Principal Financial Reviews

Pros

Good comp, but comp structure is not explained properly.
Benefits are fair, but are very costly to the sales team.

Cons

Talk a big game about supporting the sales force and puts together a front of training, but at the end of the day, any issues are not dealt with and are just brushed aside as being part of the industry.

Pros

Generally, the company provides a stable, reliable work place with the typical employee tenure between 15-20 years. The business has great potential and a solid track record within the market and community. Leadership supports individuals willing to make a long term commitment to the organization and is willing to nurture that relationship.

Cons

Being in the financial and insurance industries, the enterprise is slow to adapt or innovate. A combination of low risk tolerance, heavy regulation, and lack of solid, visionary leadership keep the organization from providing a challenging work environment, an energized workforce, and driving significant growth.

Advice to Senior Management

The Principal has great potential and should more effectively utilize the talent it has on staff. During the recent market crisis many employees supported the decisions management made to cut salaries, amenities, and benefits. However, with the enterprise in recovery, many talented individuals left due to little or no effort being made to make the whole again.

Pros

Great Place to Work and they offer great benefits

Cons

Promotions are difficult to obtain

Pros

Great company and support. Independence wihout being on your own entirely. Great group of producers and advisors to lean on and learn from.

Cons

More than half will burn out or give up. Toughest job ever. Do not try if you are not commited.

Advice to Senior Management

Get long time producers involved in training earlier on. Focus on investment knowledge for new producers as well as insurance.

Pros

Good health insurance & 401 retirement benefits,

Cons

No sick leave available. You have to use your PTO for this.

Advice to Senior Management

none

Pros

Flexibility and control of your own schedule without a lot of direct supervision. If you can handle that responsibility, it is a good career.

Cons

Just like any large corporation, there is a ton of bureaucracy and red tape that makes doing your job a little tough. Coupled with FINRA and it can be a beast at times.

Advice to Senior Management

Those who can, do; those who can't, manage. Management, for the most part, has never been in the field selling so often there is a disconnect.

Pros

Good work life balance at PFG.

Cons

Project Prioritization and scheduling of work.

Advice to Senior Management

Emphasize employees as much as shareholders.

Pros

Great benefits and flexible schedules. Our divisional management were acceptable.
Salary was fair in our market. Some advancement potential at PFG.

Cons

Health Division no longer a priority at Principal Financial Group. All claims and health benefits are not longer with Principal Financial.

Advice to Senior Management

Health Division no longer a priority at Principal Financial Group. All claims and health benefits are not longer with Principal Financial.

Pros

retirement benefits, company recognition in retirement services

Cons

weak name recognition in group employee benefits

Advice to Senior Management

go back to the way you lead the company prior to you becoming a public company

Pros

Better to work in home office, better on-site benefits and better chance of promotion

Cons

Large company, very slow to change