Anyone else feel BBG doesnt treat its existing (3+ years at bbg) employees well when it comes to annual raise. They are expected to perform and reminded of senior engineer's duties but company treats them for granted. Then one day they lose to them to G or hedge funds and they try to counter. This is true for most in Trading Systems. Avg raises has been between 1-3% till 2020. (Checked with 10+ folks). This year in team meeting they told us due to market downturn the bonus pool is small #tech #bloomberg #finance TC: 201 YOE: 9 Edit: The post is for senior software engineers At the eval, the manager and TL come to the conclusion I am in top 10% performance but it doesn’t reflect on compensation due to factors controlled by hr, market, blah blah…
I think companies realize some people just stay. Oracle doesn’t do raises every year and I still don’t understand how there are people who’ve been there for 10+ years.
Bloomberg new hire salaries are decent. Op, all companies do what you are saying though. It's just how it works. You have no idea how much msft employees complain about salary. Don't get me wrong, msft did increase budget for raises and everything but even then it was not much. The truth is not that many people left and there is enough influx no one cares. Not to mention the company went ahead and started investing in Atlanta and Texas to pay people even less. It's how it works if your employer is somewhat desirable. Bloomberg knows the job stability for engineers there is unmatchable and they take advantage of that.
Are you in trading systems? Global data people report less TC than engineering. That is low if you are in engineering even considering Bloombergs lower TC. New hires make barely less than that. Apply to finance companies. The freezing is limited to tech companies.
Sad but true, happens in most of places. I’ve been at my org for past 7yrs and year over year seen mediocre hikes though I’m among top band. Laterals get better cut. I’m jumping for Bloomberg for 70% hike. What’s your role at BB? Levels.fyi show your tc is way way low for yoe
Senior SDE. Levels.fyi isnt an accurate representation of existing engineers. I mean many older folks here don’t even know levels.fyi or even blind
The cold truth that people don't like to hear is that Bloomberg pay for performance. I managed many hundreds of comp reviews so I understand the system well. For juniors the money grows quickly for the first 3 years. After that, and for seniors, pay is heavily linked to performance. The curve is very steep. Low performers will get little or nothing, mid performers will do ok, high performers will do very well. The uncomfortable truth is that most people are not top performers.
Does this also apply to seniors who are low yoe?
But if OP is saying that TL and manager arrive at top 10% and the increase is still low and they’ve been at bbg for a while, wouldn’t that suggest that over the duration they either misunderstood their feedback, was lied to, or their management chain is bad at calibrating or setting the right expectations? If it’s the first case then there’s nothing to be said. If it’s the latter two though would that not suggest a deeply rooted flaw stemming from subpar managers resulting in an IC living in performance purgatory? I don’t think anyone has a problem with accepting that top performers get paid more, but knowing that bar and communicating it effectively seems like a management job.
I’m at Bloomberg, in TS. My lowest raise was 6%, which was also my first raise. Highest was ~20%. Had 3 years of raises at roughly 20%. I would consider myself to be a fairly high rating employee, but I know of multiple people that are higher. I’m by no means at the top. Sorry to say but if you’re at 9 YOE at 201 TC then you are either a very underperforming employee, or your TL hates you, or both. We pay new grads like 180-200ish now. Based on your edit, your management chain is giving you a bad rating and they don’t have the guts to tell you so.
TC and YOE?
Yoe: 7 TC: 330
Jeeesus what's department are you in? I would expect that for a 2 YOE
You are SWE with that YOE & TC? In NYC? Please leave.
I have been wanting to. Was grinding LC but all the target companies went into freeze. Is it twitter hiring back ?
You’re complaining about being overworked and underpaid and at the same time considering working at Elon’s twitter?!