There are newer employer reviews for Principal Financial Group
There are newer employer reviews for Principal Financial Group

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A Great place to Work

  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Financial Representative in Downers Grove, IL
Former Employee - Financial Representative in Downers Grove, IL

I worked at Principal Financial Group full-time (More than a year)

Recommends
Neutral Outlook
No opinion of CEO
Recommends
Neutral Outlook
No opinion of CEO

Pros

A very personable and respectful work atmosphere. The managers are completely dedicated in your success.

Cons

I do not have any negative comments.

Advice to Management

Everyone in the office did a great job.

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  1. Helpful (2)

    Quality company...but not for everyone

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Representative in West Des Moines, IA
    Former Employee - Financial Representative in West Des Moines, IA

    I worked at Principal Financial Group

    Pros

    Great facility, support staff, first class environment

    Cons

    My personal experience was that during my recruitment, I didn't fully understand the role prior to accepting an offer - that was my responsibility. In my defense, it is truly difficult to fully understand any role without actually doing it. I based my decision on generalities rather than hard facts and I probably added some ego in the mix as well.

    With 10 years prior experience in B2B Outside Sales, I felt that my understanding of people and general business acumen would be sufficient to allow me to be successful. I was wrong.

    My hope was to develop my book of business as more of an "assets under management" type model with insurance as an added necessity. Slow, patient, sustainable growth built on willing referrals. My personal situation was that I could afford to be patient with the growth.

    It is said that insurance is never purchased, but always sold. I understand now... No one wants insurance. It's not an exciting product and it involves self evaluation on the clients part, which let's face it; no one loves to do. Also the strategies that were encouraged, involved obvious leading questions into how a person would feel if they didn't make it home that night etc. Not trying to place a moral judgment on this, but it just felt manipulative and unnecessary.

    I guess that I much prefer a straight business proposition - this is who I am, this is why I'm here, and this is why I'm the best choice for your business solution. With insurance there is very little proprietary about your product. There's not much benefit from one provider to the next other than consumer trust in your brand.

    Advice to Management

    I wasn't successful, so my opinion would carry less weight in your eyes. If I had an audience with a decision maker, I would question that the resources put toward continuous recruitment and training could be better used to offer a salary with limited income potential (instead of unlimited) to promote consistency and increase trust from the clients point of view.

    Having a few Million Dollar reps, several in the 300k to 200k range, 10+ over 100K range and the vast majority making less than 40K is less beneficial to the business and less cost effective than having 30+ making 100k to 150K.

    In my opinion the demographic you're looking for in this role is absolutley not a relationship builder. To be succesful, it's very much a transactional business.


  2. Helpful (2)

    Some good, some bad

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Client Transaction Tech in Des Moines, IA
    Former Employee - Senior Client Transaction Tech in Des Moines, IA

    I worked at Principal Financial Group full-time (More than 5 years)

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

    Pros

    Mostly good people to work with.

    Cons

    They keep taking things away that made it a great place to work. They say that they offer telecommuting and the opportunity to change your hours as needed. But that's not true. Also they do not offer changes for advancement as much as they say they do. Knew many people stuck in the same job for 20 years. I was there for five and could not get moved to a more challenging position.

    Advice to Management

    Give back what you took and work with those who want to advance.


There are newer employer reviews for Principal Financial Group
There are newer employer reviews for Principal Financial Group

See Most Recent

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