Principal Financial Group
3.5 of 5 177 reviews
www.principal.com Des Moines, IA 5000+ Employees

Principal Financial Group Reviews

Updated Jul 7, 2014
All Employees Current Employees Only

3.5 177 reviews

                             

84% Approve of the CEO

Principal Financial Group Chairman, President and Chief Executive Officer Larry D. Zimpleman

Larry D. Zimpleman

(111 ratings)

76% of employees recommend this company to a friend
177 Employee Reviews
Relevance Date Rating
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Review Highlights

Pros:
  • "Flexible schedule, talented work force, work-life balance, very good culture"
    in 37 reviews
  • "Great benefits, which is nice because salaries are less than annual averages"
    in 15 reviews
Cons:
  • "Parking is a little ways away since we're located in downtown Des Moines"
    in 11 reviews
  • "could make work environment more appealing such as offering ergonomic options to offices and desks (although this is currently in progress)"
    in 6 reviews
  • Show more review highlights

Reviews

    • Culture & Values
           
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    • Senior Management
           
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    • No Opinion of CEO

    1 person found this helpful  

    Lots of perks, not very family orientated

    Anonymous Employee (Former Employee)
    Grand Island, NE

    ProsThey are a big company, so the perks are endless. Not only do they have an onsite workout room, they occasionally offer fitness classes onsite. Their are many business in town that offer you a discount just by showing them your badge. You tend to develop a 'work family' with the others you work around. A real sense of community among co-workers. The benefits package is great. Compensation is adequate. Some days of the week they have local vendors come in so that you can purchase lunch without leaving the building.

    ConsThey say the work ours are flexible, but that is only when they aren't giving you mandatory overtime (OT) to work on a weekly basis. Very hard to balance work and family. When you don't work the OT, it is frowned upon and you get passed up for raises and promotions. The 2nd position I held there that I worked for over 2 years, was sent to India and the closed my department down and we all had to look for other positions (inside or outside the company).

    Advice to Senior ManagementTo burnt out to give any advice.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Great Midwestern Company

    Assistant Director - IT (Current Employee)
    Des Moines, IA

    ProsPrincipal is a great company located in a great location. You get the benefits of working in a fortune 500 company without the costs associated with working on the coasts or a huge metropolis.

    Principal is big enough that you can move around to change careers but stay at the same company, but small enough that you can build close relationships.

    ConsLike most financial services companies, the last 4 years have brought a lot of pressure to keep the bottom line in the black.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    1 person found this helpful  

    Horrible, I hated every minute that I worked here

    Anonymous Employee (Former Employee)

    ProsThe vacation schedule was nice

    ConsManagement was a joke and didn't have a clue of how to effectively provide direction and support. It is governed by the "good ol boys club" if you don't drink their Kool Aid then you won't be successful.

    Advice to Senior ManagementLook for others perscpetives and stop relying on your multiple levels of incompetent mangement to provide direction. Look to all of your employees and if you still don't get a clue, then hire consultants to provide direction.

    No, I would not recommend this company to a friend

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    • Culture & Values
           
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    It has been a good place to get my feet wet and learn

    Financial Advisor (Current Employee)

    ProsThe training program and resources are top notch. Very ethical. Management genuinely wants you to succeed.

    ConsWorking on a commission only basis is tough. The stress level can be high at times around the office. Some of the corporate training is not entirely necessary and you get the feeling that you are at times getting the short end of the compensation stick.

    Advice to Senior ManagementProvide the sales staff with preset leads or appointments. Take some of the money that is spent on training seminars and put that money into the sales staff marketing budget.

    Yes, I would recommend this company to a friend

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    Overall great experience

    Anonymous Employee (Former Employee)
    Des Moines, IA

    Prossupportive work community; all sorts of different opportunities to develop; accepting and encouraging of the individual employee; friendly and approachable senior level management; "something for everyone": the company is big enough to move around to a totally different function if that's what you're interested in

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

    Advice to Senior Managementcontinue to attract diversity

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Long term employment with ups and downs.

    Broker Dealer Counselor II (Current Employee)
    Des Moines, IA

    ProsGood people to work with. Many different roles available...if you know the right people.

    ConsLayer upon layer upon layer of management. Can get political inside of the company, much like other large organizations.

    Yes, I would recommend this company to a friend

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    Great Company

    Anonymous Employee (Current Employee)

    ProsEthical and the foresight to stay strong into the future.

    ConsCan be slow moving at times.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Tough Industry, Good Company

    Financial Representative (Current Employee)
    Roseville, CA

    ProsExcellent Life & Disability Products and Principal Funds are very sound and award winning. Training is average. Workmates are always ready to help.

    ConsLike any financial company if you need help, you need to ask. No one will hold your hand. Be ready to subsidize your business for maybe 2 years with cash in the bank. Some get going faster than others. Targets are high to stay on the benefit contract.

    – I'm optimistic about the outlook for this company

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    • Disapproves of CEO

    1 person found this helpful  

    The most "click-ish, backstabbing, hateful, fear promoting " company in America!

    Anonymous Employee (Former Employee)
    Des Moines, IA

    ProsSmall town location (Des Moines). Easy to get around. Close to many places to eat. Lots of big buildings and long walks to conference rooms.

    ConsThis company has HORRIBLE middle management. They treat those who actually do the work like slaves. They rule by fear and FEAR ONLY. They treat their consultants like crap. DO NOT WORK HERE...you will regret it. There is no training and you are literally thrown into the fire and nobody helps you. I only stayed long enough to find a job where "Nightmare on Elm Street" isn't the theme movie of all management.

    Advice to Senior ManagementGo to a country that accepts your management style... any country ruled by the elite using fear as a "management style. Just get on a boat on either coast of the US and you will find your kind of place to treat people like trash.

    No, I would not recommend this company to a friend

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    1 person found this helpful  

    Not a great place to work in IT

    IT Applications Analyst Senior (Current Employee)
    Des Moines, IA

    ProsThis is a great place to work in general. The work/life balance and flexible scheduling is great. The retirement plan is great.

    ConsThis is not a great place to be a software engineer in many departments. The discipline is not valued. There is a belief that they don't have to be a great software development organization since they aren't selling software...but they still have to support the stuff they create! Much of the entry level development is done by contractors in some departments.

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Glassdoor is your free inside look at Principal Financial Group reviews and ratings — including employee satisfaction and approval rating for Principal Financial Group CEO Larry D. Zimpleman. All 177 reviews posted anonymously by Principal Financial Group employees.