Bloomberg Terminal vs FactSet
Financial Data & Terminals pricing comparison · 2026
Bloomberg Terminal pricing ranges from $2360–$2665/user/year, while FactSet ranges from $333–$2500/user/year. FactSet is typically 60% more affordable, though your actual cost depends on tier and team size.
Sources & confidence
Every dollar amount and contract clause below traces back to a sourced fact. We don't manufacture composite scores.
Plans at a glance
Every tier per product. Lock one to drive the cost row above and reveal a tier-specific outbound CTA.
What users say
Aggregated, with sample sizes. We use whichever review platform has data.
Bloomberg Terminal and FactSet are the two most widely used financial data platforms, but they serve different primary audiences. Bloomberg is the sell-side standard with unmatched real-time data and the industry's largest messaging network (IB Chat). FactSet is the buy-side favorite, offering modular pricing, superior fundamental analysis, and better API capabilities at 30-50% lower cost.
This comparison breaks down pricing, features, and total cost of ownership to help you decide which platform fits your workflow and budget.
Plan-by-Plan Pricing
| Plan | Bloomberg Terminal | FactSet |
|---|---|---|
| Single Terminal | $2.7K /user/year | $333 /user/year |
| Multi-Terminal (2+ users) | $2.4K /user/year | $1K /user/year |
| Enterprise | Custom | $2.5K /user/year |
| Bloomberg for Education | Custom | Custom |
Cost at Scale
Total cost of ownership — licenses, implementation, and hidden costs included.
Bloomberg Terminal
3 scenariosFactSet
5 scenariosMarket Intelligence
Bloomberg Terminal
- Median annual cost
- $31,980
- Based on
- 15 deals
FactSet
- Median annual cost
- $25,160
- Based on
- 4 deals
Continue researching
Bloomberg Terminal
Our Verdict
Choose Bloomberg Terminal if you work in sell-side trading or banking, need the fastest breaking news, rely on IB Chat for deal communication, or require the broadest real-time data across all asset classes. Bloomberg's network effects make it irreplaceable for roles where speed and connectivity matter most.
Choose FactSet if you're on the buy-side doing fundamental research, need modular pricing to control costs, want superior Excel integration for financial modeling, or require API access for quantitative workflows. FactSet delivers 80-90% of Bloomberg's capability at 30-50% less.
Frequently Asked Questions
01 How much does Bloomberg Terminal cost vs FactSet?
Bloomberg Terminal costs $28,000-$32,000/user/year with all-inclusive pricing. FactSet ranges from $4,000-$50,000/user/year with modular pricing. For equivalent functionality (real-time data + estimates + analytics), FactSet typically costs $18,000-$30,000/user/year — 30-50% less than Bloomberg.
02 Which is better for buy-side analysts?
FactSet is generally preferred by buy-side analysts. It offers superior portfolio analytics, better screening tools, more flexible Excel integration, and modular pricing that lets you pay only for needed data. Bloomberg is essential if you also need real-time trading execution or IB Chat.
03 Which has better Excel integration?
Both offer strong Excel plugins, but FactSet's is widely considered superior for fundamental analysis. FactSet uses =FDS formulas with broader data coverage and better refresh capabilities. Bloomberg's Excel Add-in (BDH, BDP, BDS) is excellent for real-time data pulls.
04 Can FactSet replace Bloomberg?
For many buy-side firms, yes. FactSet covers fundamentals, estimates, screening, and analytics at lower cost. However, Bloomberg cannot be replaced if you need: (1) IB Chat messaging network, (2) fastest breaking news, (3) deepest fixed income/derivatives data, or (4) industry-standard sell-side workflows.
05 Which offers better API access?
FactSet offers more accessible API and data feed options. FactSet's REST APIs start around $25,000/year, while Bloomberg's B-PIPE/SAPI typically costs $50,000-$200,000+/year. For quant teams needing programmatic data access, FactSet is the clear winner.
06 What are the contract differences?
Bloomberg requires a 2-year minimum commitment with rigid pricing and 50% early termination penalty. FactSet offers 1-year contracts with more flexible terms and negotiable early termination. Multi-year FactSet contracts unlock 10-20% savings.
07 Which has better real-time market data?
Bloomberg has broader real-time data coverage across 330+ exchanges and faster news delivery. FactSet's real-time data is strong but requires add-on exchange fees. For active trading desks, Bloomberg is the clear winner.
08 How do volume discounts compare?
Bloomberg: 2-10 terminals get ~11% off ($28,320/user); 50+ users negotiate to $18,000-$20,000/user. FactSet: 5-10 users get 10-15% off; 50+ users can reach 25-40% below list. FactSet generally offers steeper volume discounts.