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Bloomberg Salary Negotiation Guide

Do we like negotiating with Bloomberg?

Bloomberg is open to negotiating and willing to engage if you share cross-offer details. However, Bloomberg's compensation structure is fundamentally different than most companies in tech, and they are not able to provide large enough increases to match some of the top paying companies. It is at a more established stage (i.e. not in hyper growth mode anymore) which does make it harder to negotiate to top of band.

Bloomberg's compensation structure

  • Base Salary
  • Bloomberg Signing Bonus (not included in all Bloomberg offer packages and might be split over two years)
  • Annual Bonus

There is no Bloomberg equity package, which is relatively unique for a tech company as most offer shares to employees to create an ownership mentality and align incentives.

Bloomberg performance bonus targets

Bloomberg's annual bonus depends on the role, level, personal performance, and company performance. Bloomberg has rewarded top performers with +50% above target bonus, which is certainly competitive (albeit, lower than the 2x and 3x that are theoretically possible at companies like Facebook). Bonus targets are negotiable and quoted as a $ figure - again, this is different from a typical structure. Software engineer targets range $10K-$50K and senior software engineer is $35K-$90K.

Bloomberg's approach to remote pay

Bloomberg is known to place a heavy emphasis on in-office collaboration. They are aiming to transition to a hybrid model where tech employees will be coming into the office 3 days a week and for the remaining 2 days they work from home. As a result, Bloomberg does not look to favourably upon remote workers and fully remote positions are relatively rare at the company.

It's worth noting that Bloomberg has also faced significant backlash from employees during covid for premature return to work policies.

Bloomberg's relocation package

If Bloomberg requires to move to join a specific team, they usually offer a 10k bonus post-tax for new grads. In case of senior levels, you should push for a higher bonus. It's also possible to negotiate for additional relocation perks (e.g. 2 months of corporate housing).

Most negotiable component

At many tech companies, the most negotiable component is equity, but Bloomberg does not offer that as a part of the overall Bloomberg compensation package. Hence, your best bet is to negotiate the total compensation (i.e. base + target bonus). It is worthwhile to also push for a signing bonus, though these are almost always <$50K which will not make as large of impact compared to a $30K/yearly increase in comp.

Does Bloomberg require written offers?

Bloomberg does not require written offers in most cases but they will ask for other details.

Some recruiters will also require you to completely finish other processes before negotiating, which is a bit unusual. That said, if you're very specific with your wording, you can certainly still negotiate while in the interview stage at other companies.

Will Bloomberg go above band if I have a strong competing offer?

Bloomberg has a hard time going above band when you present them with a competing offer. Recruiters are comfortable saying "we aren't able to pay as well as Google/Amazon" and that can make negotiations tricky. However, that does not mean that they will not increase comp if you play your cards right. It's just not a sure thing if you are nearing top of band. Due to Bloomberg's unique leveling structure, it's usually not possible to push for an uplevel to increase comp when at top of band.

Is my hiring manager relationship important at Bloomberg?

Bloomberg salaries are decided by a compensation team, and the hiring manager relationship is less important vs. at a company like Amazon.

Recruiters also do not have much control over your compensation, but it is still essential to have a good relationship with them, as they will be the ones advocating on your behalf for special approvals.

What does the hiring process look like at Bloomberg?

The hiring process at Bloomberg typically has four stages: initial recruiter chat (optional), phone coding screen, virtual onsite, and offer stage. There may be a few changes in the process depending on the role, but this is the general format.

The initial recruiter chat is to learn a bit about your background and why you are interested in Bloomberg.

The phone screen is typically two Leetcode questions.

The onsite stage is usually three rounds with two interviews more focused on coding/system design and one behavioural interview.

If you are successful, you'll typically get an email from your recruiter asking for a follow up call and then the Bloomberg offer negotiation process will begin.

Does Bloomberg pay well compared to Amazon?

Bloomberg doesn't have a great comparable company due to their unique comp structure. They are known to have a solid engineering hiring bar and many people also receive offers from Amazon, Microsoft, etc.

As a point of comparison, Amazon pays much better vs. Bloomberg. For instance, at Bloomberg the highest offers for senior software engineers are around $350k but at Amazon L6 can clear $600K.

What kind of benefits does Bloomberg offer?

While negotiating at Bloomberg, the focus should always be base pay, target bonus, and signing bonus. However, they provide other benefits as well. This includes health benefits such as vision and dental insurance, financial perks like 401k, FSA, Roth 401k and miscellaneous perks like tuition reimbursement, employee credits and discounts, etc.

Bloomberg Equity Vesting Schedule

Year 1
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Year 2
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Year 3
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Year 4
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Year 5
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Bloomberg Levels

Bloomberg Level

Software Engineer

Senior Software Engineer

=

Equivalent Level at Google

L3

Between L4 and L6

Why use us?

Our Clients Love Rora

Coming from a non-FAANG background, I was shocked to find out how much I could be earning. Before I signed up with Rora, I made the mistake of telling Amazon my current compensation. Thankfully, Rora knew exactly how to fix it and ended up getting me an offer that was 2.3X what I previously made and more than $600K higher than Amazon’s initial offer!

Through several weeks of interviews, Ganesh was always available to make sure I knew what to say for each conversation. I interviewed with start ups, Google, Facebook and Amazon and was really impressed that Rora knew the comp ranges and were able to give me tailored advice for each – even the start ups.

There ended up being two particularly complex moments in my negotiation. One of the start-ups I had a personal relationship with and I wasn’t sure how it would affect the negotiation. I like that there was a focus on my individual circumstances and that they were leveraged to get me a higher offer. The other situation is that Amazon made a mistake on my written offer and initially wouldn’t rectify it. Ganesh was able to guide me through a challenging conversation to get it resolved.

Steve Commisso
L7 Principal Software Engineer, Amazon

Thanks to Wilson and the team at Rora I got a ~$250K increase on my remote Facebook offer! I was initially worried I wouldn’t have much leverage because Facebook reached out to me, and I wasn’t interviewing anywhere else. Rora introduced me to an Amazon L7 recruiter and helped me get that process started. I didn’t even end up needing to finish the Amazon interviews, since we were able to use some early compensation conversations to justify our numbers to Facebook.

At one point I was also considering pushing for an E7 role, and they wrote up a great script for me to broach the subject with my recruiter. She ended up giving me the option to do an additional interview to be considered for the higher-level position.

The whole process was very smooth, and I wouldn’t hesitate to use the service for any future negotiations. I found the regular calls with Wilson where we walked through strategy and discussed the scripts to be extremely helpful. Not only did it help with this negotiation, but I also learned a lot of useful negotiation tactics that I’ve already started to use in other situations.

Chris Jones
E6 Software Engineer, Facebook

As an engineering leader with decades of experience and having now gone through the negotiation with the team at Rora, the only thing I can say is — get the help. Whether you realize you need it, or even if you think you don’t. Just because you have done well in engineering doesn't mean that you understand the tactics and limits of the recruiting process.

Rora helped me get a $200K increase on my original Facebook offer without any competing offers.  It was clear that Rora was deeply familiar with Facebook's negotiation playbook. I’d honestly give the experience an 11/10.

In addition, Rora guided me on how to get the position switched to a revised remote role which was a huge deal at a personal level. They showed me how to redirect FB’s questions so that I could explore the possibility of not relocating, without ever having to say no to my original offer.

E7 Hardware Engineer
Facebook

This is my first FAANG role and I'm so happy I worked with Rora (thanks again Annie!) for the negotiation. My goal was to increase my Google offer, but I was in a tricky situation where I only had 1 other interview (no offer yet) at a small startup. With their guidance, I managed to get a $240K increase on my Google offer, despite Google's policy of requiring cross offers in writing to justify an increase.

The mock negotiations were a big part of why I was able to get this increase. Going into the negotiation, I assumed the key factor was what to say but I quickly learned that how you say it is equally if not more important. This was clear when over the course of the call"no" turned into "I'll see what I can do" and eventually"I think we can make this work". A big part of this was also having someone with me on the calls to provide real time guidance. This took a lot of the stress out of the situation. I can't recommend this team highly enough!

Andrei Gorbushkin
L5 Technical Program Manager, Google

After receiving several job offers, I needed to make a decision within a few days. I wanted to make sure I was getting the best offer possible, so I decided to use Rora. I was very pleased with their service. My coach, Sameer, was well prepared and had information about what compensation increases were likely possible. He provided detailed scripts covering a range of scenarios, and he did practice negotiations with me that helped me feel confident when I had the actual conversations.  

With his help I was able to increase one offer by $45k per year plus get a $50k signing bonus and then use that to increase my offer from Square, which was my first choice. All throughout he was very responsive as I was dealing with some tight deadlines and looking to wrap things up quickly. Rora's fee was only a tiny fraction of the increase they helped me negotiate, and even though they would have made more money if I had taken the highest offer, Sameer always put my goals first and never pressured me to do so. I highly recommend Rora!

L6 Software Engineer
Square

My friend introduced me to Rora and I’m so glad they did. I initially did some calculations to see if working with them would be worth it - my final increase ended up being ~3x higher than what I had estimated to be possible!

Their data is much more accurate than anything I found online. Without Sameer's guidance, I would have never known (and would have probably been too nervous) to ask for >$800K for anAmazon L7 offer. Of course, it's not just not enough to throw out a big number, you also need to be able to justify it. Sameer guided me through negotiating an up-level at another company, which I didn’t even know was possible at my level. With their scripts, I was able to leverage my competing offer to get exec approval for my Amazon offer. They also knew all the tricks Amazon would play (e.g., assuming 15% stock appreciation) and exactly how to counter them.

My total 4-year compensation increased by $570K. I don't think I've ever had a higher ROI – I’m very thankful that this service exists!

L7 Principal Software Engineer
Amazon

Maximize your Bloomberg Offer

Bloomberg

has a unique set of negotiation policies. If you don’t have experience negotiating with them, you risk losing out on large amounts of money because of very small mistakes.

There are many of these rules you need to know to get the highest

Bloomberg

offer possible.