How Much Do Software Engineers Make at Bloomberg? Salary and Benefits Revealed
Looking to work as a Software Engineer at Bloomberg? Wondering how much you could earn? Read on to find out about salaries, benefits, and more.
6 min read
31 May, 2023
Bloomberg's mission is to provide the world's most influential business leaders with the critical news, data, analytics, and insights they need to gain a competitive edge.
As a Software Engineer at Bloomberg, you will be part of a dynamic team responsible for developing and maintaining the systems that power the company's financial data and news platforms. Whether you're an entry-level Software Engineer or a Senior Software Engineer, you will have the opportunity to work on cutting-edge technology and make a significant impact on the financial industry.
Salaries by Level
All data in this article is taken from Levels.fyi, which relies on employee supplied information.
Based on this we can see that Bloomberg offers competitive compensation packages for software engineers.
Here's a breakdown of the salaries by level:
|Senior Software Engineer
Software Engineer (Entry Level)
The entry-level software engineer position at Bloomberg offers a total compensation package of $191K. This includes a base salary of $167K, $2K in stock per year, and a $22K bonus. As an entry-level software engineer, you will be responsible for developing, testing, and maintaining software applications. You will work with a team of experienced engineers and collaborate with other departments to ensure that the software meets the needs of the business.
Senior Software Engineer
The senior software engineer position at Bloomberg offers a total compensation package of $277K. This includes a base salary of $231K, $3K in stock per year and a $44K bonus. As a senior software engineer, you will be responsible for leading the development of complex software applications. You will work closely with other departments to identify business needs and develop solutions that meet those needs. In addition, you will mentor and train junior engineers to ensure that they have the skills and knowledge needed to succeed in their roles.
Would you like a 4 day work week?
Bloomberg employs a whopping 7,000 software developers across the world across 100's of locations.
Using open software engineering positions as a proportional indicator, we've estimated the number of software engineers that potentially work at each location. Although this method provides a rough estimate, it gives us an intriguing perspective on the global presence of Bloomberg's engineering force. Here's what we found:
- New York: ~4,096 engineers
- Princeton: ~1,266 engineers
- London: ~521 engineers
- Frankfurt: ~223 engineers
- Hong Kong: ~223 engineers
- Pune: ~149 engineers
- Tokyo: ~149 engineers
- Dublin: ~80 engineers
- Orangeburg: ~70 engineers
- Sao Paulo: ~70 engineers
- Shanghai: ~60 engineers
- Singapore: ~60 engineers
- Toronto: ~50 engineers
Career Progression at Bloomberg
At Bloomberg, there are two levels for Software Engineers - Entry Level and Senior. The career progression at Bloomberg is as follows:
1. Promotion from Entry Level to Senior Software Engineer
- Salary Increase: $86K
- New Responsibilities: Senior Engineers are expected to lead projects and mentor junior engineers. They are responsible for designing and implementing complex systems and ensuring the quality of the codebase.
2. Promotion to Manager
- Salary Increase: $50K
- New Responsibilities: Managers are responsible for leading teams of engineers, setting goals and priorities, and ensuring that projects are delivered on time and to a high standard. They also play a key role in hiring and training new engineers.
3. Promotion to Director
- Salary Increase: $100K
- New Responsibilities: Directors are responsible for managing multiple teams of engineers, setting the overall technical direction of the company, and ensuring that projects are aligned with business objectives. They also play a key role in recruiting and retaining top talent.
4. Promotion to Vice President
- Salary Increase: $150K
- New Responsibilities: Vice Presidents are responsible for managing large teams of engineers, setting the company's strategic direction, and ensuring that the company is well-positioned for future growth. They also play a key role in developing new products and services.
It's important to note that promotions at Bloomberg are based on merit and performance, and there is no fixed timeline for promotions. However, on average, employees can expect to be promoted every 2-3 years, depending on their performance and contribution to the company.
Top Benefits Offered by Bloomberg
Bloomberg is known for providing an extensive range of benefits to its employees. Here are the top benefits offered by the company, based on data from levels.fyi:
- Free Meals: Employees can enjoy complimentary breakfast, lunch, and dinner at the office on all working days.
- Generous Time Off: Bloomberg offers 20 days of paid time off (PTO) to its employees. In addition, employees can take advantage of unlimited sick time and volunteer time off.
- Health and Wellness: The company offers a range of health and wellness benefits, including health insurance, dental insurance, vision insurance, and a flexible spending account (FSA). Employees can also receive up to $300 per year for gym and wellness expenses.
- Life and Disability Insurance: Bloomberg provides life insurance coverage of up to two times the employee's base salary, up to $200,000. The company also offers long-term disability (LTD) insurance with 60% coverage up to $10,000 per month.
- Retirement Benefits: Employees can take advantage of a 401k plan with a 75% match on the first 8% of base salary up to $7,750 per year. The company also offers a Roth 401k option.
- Family Benefits: Bloomberg provides 26 weeks of paid maternity leave and 4 weeks of paid paternity leave. The company also offers adoption assistance of up to $14,890 per child, as well as fertility assistance of up to $30,000.
- Other Perks: Bloomberg offers a range of other perks, including a relocation bonus of $10,000, accidental death and dismemberment (AD&D) insurance of up to $1,000,000, and a bike-to-work program. Employees can also use tuition reimbursement, learning and development opportunities, and an employee referral program.
Bloomberg's Working Culture
Bloomberg's working culture is one of the most attractive aspects of the company. The company is known for its fast-paced, high-energy environment that fosters innovation and creativity. Employees are encouraged to think outside the box and come up with new ideas that can help the company grow and succeed.
The company has a strong focus on collaboration and teamwork. Employees are encouraged to work together on projects and share their knowledge and expertise. This helps to create a supportive and inclusive working environment where everyone feels valued and respected.
Bloomberg also places a strong emphasis on work-life balance. The company offers a range of benefits that help employees to manage their work and personal lives. These benefits include unlimited sick time, 20 days of PTO, and remote work options.
Overall, Bloomberg's working culture values innovation, collaboration, and work-life balance. This makes it an attractive place to work for software engineers who are looking for a challenging and rewarding career.
Frequently Asked Questions
Q. What is the average salary for a Software Engineer at Bloomberg?
According to the salary data provided, an Entry Level Software Engineer at Bloomberg earns a total of $191K, with a base salary of $167K, $2K in stock per year, and a $22K bonus. On the other hand, a Senior Software Engineer earns a total of $277K, with a base salary of $231K, $3K in stock per year, and a $44K bonus.
Q. What benefits does Bloomberg offer to its employees?
Bloomberg provides a rich array of benefits to support its employees' health, work-life balance, and financial stability. Key benefits include unlimited sick time and 20 days of personal time off each year. Employees enjoy free meals five days a week and the flexibility to work remotely.
Insurance coverage is comprehensive, covering health, dental, vision, life, and even pets. Particularly generous is the provision for accidental death and dismemberment insurance and life insurance. New parents can look forward to substantial maternity and paternity leave provisions.
In terms of financial perks, Bloomberg offers a $300 annual gym or wellness reimbursement, a relocation bonus, and an impressive retirement plan with a 75% match on the first 8% of base salary. They also have a tuition reimbursement program and a referral program that donates $2,500 to a charity of your choice when a referred candidate completes six months of employment.
These key benefits illustrate Bloomberg's commitment to fostering a supportive, inclusive, and healthy work environment.
Q. What industry does Bloomberg operate in?
Bloomberg operates in the online media industry, providing business news, market news, financial advice, social media for business professionals, technology news, climate change news, clean energy news, cities, finance, wealth, travel, supply lines news, commodities, green technology, and equality.
If you're interested in a career at Bloomberg, the salary data shows that software engineers can expect to earn between $191K and $277K per year, depending on their level of experience.
Most finance jobs are known for having a pretty poor work-life balance however. So if you're instead interested in a more balanced lifestyle, check out our software engineering jobs with a 4 day work week.