Pros
Bloomberg is a great place to work if you're just starting out in an entry level position. Broad exposure to multiple different facets of the financial and media worlds. Excellent opportunity to explore new fields with plenty of options for lateral movement to new departments. Enough free food that a little creativity can mean not having to buy lunch. The offices are AMAZING and very centrally located. Young atmosphere which is a pro or con depending on how you look at it. Amazing summer party.
Cons
The pay STINKS. Expect to make 30% less than you would for a comparable position in your industry and with your level of experience. Bloomberg hires people young, lets them move around, but never bothers to pay them. Almost universal dissatisfaction with pay (with the exception of management) leads to lots of people getting their experience at Bloomberg and then going elsewhere to actually make money. Bloomberg really is a very nice place to work but if pay is one of your top concerns you WILL be disappointed.