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

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Helpful (1)

Average/Good company overall; be aware of what dept you work in, make a huge difference(stay away from RIS)

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

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

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

Pros

-Salary is competitive in most roles (compared to large markets) -PTO and general benefits are great, best I've seen or had -Plenty of non work functions; cheap tickets, socials, etc -Several gyms and locker rooms(very outdated though but are about to remodel), Upper Mgmt is proactive with health -dining options

Cons

-Each dept is run COMPLETELY different -Numerous people in roles they are not qualified for or have 0 experience in -promotions and salary are based on time at PFG, not your skill set or performance; hard to get a fair look when wanting to change areas, pigeon holed to same area for long time unless VP/C level. A lot of people in same role/area for 10+ yrs. get title promotions is all! -people can just hide behind monitor or not be at desk and float by -Mgmt makes up meetings so they don't have to work, pass off tasks to those below, Mgmt does very little, just talk about things and do nothing -people are ask to meetings they have no business being in; politics and kissing! -culture is promoted but it is not the best; a lot of talk but no walk -Downtown traffic and not much for attractions -Remodel is going to take a long time and cause a lot of headaches -dining is expensive

Advice to Management

Look at what you managers actually do! I don't mean C level either. VP's, directors, asst directors, asst managers don't do anything in the dept's i know. most are unqualified for their roles & ask others (in lower roles) what they should do. Get buy in from lower levels and stop glad handing "management" (used loosely)

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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. 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.


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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