alt Hacker NewsFinancial companies are cutting down on the amount associates can bill the firm for a $30 dinner, and the time before they can have the firm pay for a $30 car ride home. They definitely wouldn't pay for Bloomberg if it could be easily replaced.
Replies
adjejmxbdjdn • today at 4:24 PM
Skipping a dinner is not losing you much money.
Making a bad trade or missing a good one due to delaying data or bad data can pay for several years worth of bloombergs for everyone in your firm in one moment.
jpfromlondon • today at 3:53 PM
Nobody ever got fired for choosing Bloomberg, even if there was a viable alternative there is no way anyone is pioneering the switch.
Bloomberg terminal is only $133/day (assuming 240 work days per year). So, while $32k/yr seems expensive at first glance, given the total annual cost of an analyst or trader, it's not huge. Of course, they'd rather not spend the $32k/yr if they could avoid it, if bloomberg can give you an edge on just one or two trades a year, you come out ahead. So...