How many employees does BlackRock have? Headcount by year and quarter

This page is for sellers sizing BlackRock as an account, analysts comparing asset managers, and anyone who needs a BlackRock headcount they can cite. Every figure comes from BlackRock's own SEC filings. Unlike most companies, BlackRock states its headcount in every 10-Q as well as every 10-K, so there is a figure newer than the annual report. The third-quarter 2026 earnings release, filed October 14, 2026, doesn't give one.

BlackRock employees by year

Each filing gives the figure as "approximately", rounded to the nearest hundred. The changes are our arithmetic.

BlackRock headcount by quarter

The quarterly figures come from the opening paragraph of each 10-Q; the December figures are from the 10-Ks. June 2026 is 3,500 (15.4%) above June 2025. The largest quarterly rises came when Preqin and HPS closed. The 1,100 rise in the third quarter of 2024 came before GIP closed, and the filing doesn't explain it.

One company, two SEC filers

EDGAR shows two BlackRock filers. When GIP closed on October 1, 2024, a new holding company (formerly BlackRock Funding, Inc.) became the parent, took the name BlackRock, Inc. and the BLK listing; the old BlackRock, Inc. became BlackRock Finance, Inc. The old company (CIK 1364742) filed the 10-Ks for 2023 and earlier, the new one (CIK 2012383) those since. It is the same business, so the series is continuous.

What the number includes

• The whole group. The 2025 10-K says BlackRock and its subsidiaries had "approximately 24,900 employees in more than 30 countries as of December 31, 2025", serving clients in more than 100 countries.
• Acquired firms. The 2025 10-K notes that "over the past two years, the firm welcomed thousands of new colleagues through acquisitions," and the quarterly counts jump in the quarters those deals closed.
• No definition of full-time or part-time. The filing doesn't say whether the count is a headcount or full-time equivalents, and gives no contractor count. It is a point-in-time figure at each quarter end.

What changed and why

• 2018 to 2022: steady growth. Headcount rose from 14,900 to 19,800 in four years; the filings don't give a reason year by year.
• Late 2022 and late 2023: two restructurings. In the fourth quarter of 2022 BlackRock recorded a $91 million restructuring charge, including $58 million of severance, "in connection with an initiative to modify the size and shape of the workforce to align more closely with strategic priorities." In the fourth quarter of 2023 it recorded $61 million, including $47 million of severance, to "reorganize specific platforms, primarily Aladdin and illiquid alternative investments." Year-end headcount was 19,800 in both years, with dips to 19,300 in mid-2023 and the first half of 2024.
• October 2024 to September 2025: private markets acquisitions. BlackRock closed GIP (infrastructure, October 1, 2024), Preqin (private markets data, March 2025, for £2.55 billion in cash), HPS Investment Partners (private credit, July 1, 2025) and ElmTree (September 2025). Headcount rose by 4,200, from 20,400 to 24,600, between September 2024 and September 2025.
• Mid-2025: a smaller restructuring. In the second quarter of 2025 BlackRock recorded a $39 million charge, including $27 million of severance, to modify its organization "to fit more closely with strategic priorities."

The regional mix has moved too. Asia-Pacific held 22% of employees at the end of 2022 and 29% at the end of 2025, roughly 4,400 to 7,200 people (our calculation from the rounded figures). The 10-K's leased offices include Gurgaon and Mumbai in India.

Revenue per employee

BlackRock's 2025 total revenue was $24,216 million. Divided by the year-end headcount, that's $24,216 million ÷ 24,900 = about $972,500 per employee (our calculation). The same sum for 2024 ($20,407 million ÷ 21,100) gives about $967,200, and for 2018 ($14,198 million ÷ 14,900) about $952,900. Year-end counts include acquired staff whose firms contributed only part of the year's revenue (HPS from July 1, 2025), which pulls the 2025 figure down a little.

BlackRock reports a single operating segment, and the 10-K doesn't split headcount by business. It does split revenue:

Selling to a company of BlackRock's size

General guidance on how a 26,000-person asset manager buys, not a description of BlackRock's internal processes.

• Pick the business before the person. One reporting segment hides very different buyers: iShares, institutional and wealth client teams, Aladdin, and the private markets firms it just bought, each with its own leaders and budget.
• Integration is the opening. Three acquisitions in a year mean systems, data and processes being merged, which gives tools for data migration, reconciliation or onboarding a reason to be bought now.
• Expect regulated-vendor review. BlackRock is regulated in many countries, and its 10-K notes that the EU's Digital Operational Resilience Act, which "focuses on direct regulation of providers and users of technology and data services," applied from 2025. A technology or data vendor should expect resilience, security and incident-reporting questions before a contract.
• Use the regional mix. With 29% of staff in Asia-Pacific, the team that runs a process may sit far from the executive who sponsors it; how to find decision makers covers mapping both.

Mapping the right team across a firm this broad is the slow part. Bebop researches each account and suggests who to talk to and the angle to open with; check what it finds against the company's filings.

How to check the number yourself

1. Open BlackRock's filings on SEC EDGAR (the current filer, CIK 2012383) and pick the latest 10-Q or 10-K.
2. Search for "employees in more than 30 countries": it's in the first paragraph of Item 1 in the 10-K and the Overview of Item 2 in the 10-Q. The regional split is in the 10-K's Human Capital section.
3. For 2023 and earlier, use the old filer, BlackRock Finance, Inc. (CIK 1364742).

Next step: see how BlackRock compares with other managers on our list of the largest asset management firms.