Principal Financial Group Reviews

Updated July 30, 2015
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3.9
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Recommend to a friend
Approve of CEO
Principal Financial Group Chairman, President and Chief Executive Officer Larry D. Zimpleman
Larry D. Zimpleman
111 Ratings

Pros
  • Great work life balance as very less work pressure (in 43 reviews)

  • Great benefits, which is nice because salaries are less than annual averages (in 20 reviews)

Cons
  • Parking is a little ways away since we're located in downtown Des Moines (in 12 reviews)

  • could make work environment more appealing such as offering ergonomic options to offices and desks (although this is currently in progress) (in 7 reviews)

More Pros and Cons

169 Employee Reviews

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  1. Principal

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Principal Financial Group full-time (More than 10 years)

    Doesn't Recommend
    Doesn't Recommend

    Pros

    free parking, free bus passes

    Cons

    little or no advancements, stagnant wages, erratic schedule, late nights


  2. Helpful (1)

    Good

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Principal Financial Group

    Pros

    Employee Friendly and good Work Culture

    Cons

    No Onsite opportunities and no work from home facility

    Advice to Management

    Management is doing well


  3. Beware the guilded cage!

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Intern in Des Moines, IA
    Current Employee - Intern in Des Moines, IA

    I have been working at Principal Financial Group

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    The benefits are good, the pay is not. The awesome benefits come at the price of pay. Work-life balance is good, you won't be asked to work long hours at this job.

    Cons

    This company is a mess from top to bottom. At a superficial level things seem okay but in reality the employees are extremely spoiled with a strong sense of entitlement. Employees expect to be 'given' everything. For this reason it is not uncommon for coworkers to come in late, leave a couple of hours early and complain about others the rest of the time, all the while expecting the next promotion will be theirs. The culture of the company is only nice on the surface, scratch beneath the top layer and the people are treacherous, manipulative and untrustworthy. On top of that many have a "Me first" attitude. The egos at this place are outrageous and because of it people don't genuinely listen to what others have to say. That is to say the culture is extremely insular. Case in point of this a surprising number of the people I worked with were totally clueless when it came to basic business knowledge even as it pertained to finance which was surprising in a financial services company, and being woefully uninformed seemed to be totally acceptable just so long as you didn't inform anyone of that because everyone believes they can walk on water. My guess is that the company may be doing well now but as the industry becomes more competitive the company will slip and the people that work there will only get worse. Worse yet Principal pays below market average and try to lowball you as much as possible as a premium to get to live in Des Moines I guess. Its hard to imagine that in the long term the company will continue to attract top talent if they even do already. Don't expect a lot from this company!

    Advice to Management

    Company is way too insular. You hire from the same four colleges and the same handful of Des Moines companies and you expect somehow to get a different result? You need to make your company more inviting to outsiders. Instead of bragging about how great you and Des Moines are just treat people better.


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  5. Professional Development at its finest

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Client Service Associate in Des Moines, IA
    Current Employee - Client Service Associate in Des Moines, IA

    I have been working at Principal Financial Group full-time (More than a year)

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    Great place for coach and professional development

    Cons

    Work schedule is not flexible


  6. Financial Advisor

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Principal Financial Group full-time

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Principal offers a great deal of flexibility and independence. Advisors are allowed to build their practices largely as they see fit. The comp structure is very competitive and the benefits are very good. This is largely like owning your own financial planning practice with the corporate benefits that come for working with a large institutions.

    Cons

    The comp structure is good, but it is very complex. It is unnecessarily so in my opinion. The technology, while improving, is significantly deficient when put next to large firms. The technology costs can also be a bit imposing for new employees. Principal offers virtually nothing to its own advisors that is does not wholesale through to the advisors at the wire houses.

    Advice to Management

    Address the technology gaps. Be willing to take a more active role in practice development by offering existing advisors better incentive to take joint work while a new practice is being developed.


  7. Good Company to Work

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Analyst in Pune (India)
    Current Employee - Business Analyst in Pune (India)

    I have been working at Principal Financial Group

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Good Work-Life balance and very good environment.

    Cons

    Top level management is not good.


  8. Good opportunities if you are good at sales

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Principal Financial Group full-time (More than a year)

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    Access to wide variety of products and services

    Cons

    Nashville office is ugly and staff is under trained


  9. The best company I have ever worked for

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Business Analyst in Des Moines, IA
    Current Employee - Senior Business Analyst in Des Moines, IA

    I have been working at Principal Financial Group full-time (More than 5 years)

    Pros

    Good work life balance Nice colleagues Friendly atmosphere

    Cons

    Slow career advancement Pay slightly lower than average but it is fine for me

    Advice to Management

    Value your people


  10. Good.

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Principal Financial Group

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great place to work at. Ethical Company.

    Cons

    Needs improvement in technology. Told we are the best tailer in the park.


  11. Great company to work for

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Sales Representative
    Current Employee - Sales Representative

    I have been working at Principal Financial Group

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Cares about their employees, great perks

    Cons

    No cons at this time



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