Principal Financial Group

  www.principal.com
  www.principal.com

Principal Financial Group Reviews

Updated October 21, 2014
Updated October 21, 2014
197 Reviews
3.8
197 Reviews
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Principal Financial Group Chairman, President and Chief Executive Officer Larry D. Zimpleman
Larry D. Zimpleman
128 Ratings

Review Highlights

Pros
  • The pay and benefits are very good, with an excellent work-life balance to boot (in 41 reviews)

  • Great benefits, which is nice because salaries are less than annual averages (in 19 reviews)


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

  • Salary is on the high side of mediocre, other companies will pay more but Principal tries to make up for it with a flexible work environment (in 7 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Continuously learning new product and/or sales material, developing skills to guarantee success.

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

    I have been working at Principal Financial Group full-time (more than an year)

    Pros

    Outstanding archived training library available 24/7, augmented with frequent, optional to attend, webinars.

    Cons

    Nothing of note comes to mind. Really.

    Advice to ManagementAdvice

    Keep up the great work.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  2.  

    Human resource

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Human Resource in Pune (India)
    Former Employee - Human Resource in Pune (India)

    I worked at Principal Financial Group full-time (more than an year)

    Pros

    awesome place to work at

    Cons

    none. its is a great place to work

    Advice to ManagementAdvice

    keep doing the best as always

    Recommends
    Approves of CEO
  3.  

    My search is over- I'm sold!

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

    I worked at Principal Financial Group as an intern (less than an year)

    Pros

    This is a company that really values their employees from full-time staff to interns. Senior management is very accessible, the culture is fun and inviting, and the opportunities are endless. This is an incredible company for those looking for a 'career company'. I got hooked on the values, the transparency and most of all, the people. I look forward to seeing further global expansion and growth and returning for a full-time position post graduation.

    Cons

    I do not think my experience would have been the same if I had not worked in the headquarter office in Des Moines.

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    Best Company Out There from a Financial Advisor

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Advisor in San Diego, CA
    Current Employee - Financial Advisor in San Diego, CA

    I have been working at Principal Financial Group full-time (more than an year)

    Pros

    Principal has the best training program for people who want to get into the business where the real money is at. They start you off with a 4 month salary and even provide benefits. Commissions are complicated but the best out there. The biggest 401k player in the market. Great Managing Director who is a straight shooter. He is very ethical and is an expert at sales.

    Cons

    Expect to work hard, but rewarded handsomely. The biggest challenge to learn to focus and keeping ourselves accountable.

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    Best Internship program yet!

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

    I have been working at Principal Financial Group as an intern (more than an year)

    Pros

    The program was well-structured, they provided you with a mentor within your team as well as an available leader to help you with anything you needed. I enjoyed the programs that they put on just for interns such as listening to upper level executives speak & professional development seminars. The pay was great too, and they hook you up with housing nearby!

    Cons

    There isn't a lot of internship to full-time conversion if you aren't in the IT field.

    Recommends
    Positive Outlook
    Approves of CEO
  7.  

    Great Company to work for

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Applications Expert in Pune (India)
    Former Employee - Applications Expert in Pune (India)

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

    Pros

    Employee Oriented, Free Cab, Subsidized Meal, Nice Work, Good Environment, Nice Culture

    Cons

    Nothing as such, less onsite

    Advice to ManagementAdvice

    The y are good

    Recommends
    Positive Outlook
    Approves of CEO
  8.  

    Great company to work for

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

    I have been working at Principal Financial Group full-time (more than 3 years)

    Pros

    They care about their employees, provide great benefits, continually train, and try to create a positive work environment.

    Cons

    They tend to keep piling on the work until you cry uncle...but then most companies do in this day and age.

    Recommends
    Positive Outlook
    Approves of CEO
  9.  

    "Great people and work"

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

    I worked at Principal Financial Group as an intern (less than an year)

    Pros

    Great co-workers. everyone was really friendly and good at their jobs. I was given a lot of responsibility and feedback on my work.

    Cons

    It took them 6 weeks to get my security clearance set up. That's fine for full time employees, but not for an intern who is only there for 12.

    Advice to ManagementAdvice

    Work on the on boarding process

    Recommends
    Positive Outlook
    Approves of CEO
  10. 3 people found this helpful  

    Weak Pune Management, good for short term stay

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

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

    Pros

    Principal Global Services, the IT & ITES extension of Principal Financial Group provides excellent facilities like cab service (yes AC cabs!) and Industry average pay. Your salary will usually be around the average salary for typical captives like RBS, Wellsfargo etc. Thanks to the US office, the work load is usually never heavy, and typical of a reversal role in IT outsourcing, the US office usually works extra, while the India office has less work. There are Pune employees who have not worked for several years.
    Work and direct interaction with US office is the highlight of being in PGS and hence there is no onsite to play work related stunts.
    If you work hard, you can learn a lot and use it after you leave PGS and join other companies.

    Cons

    Due to captive nature of organization, there is no outward thinking and management is more on operations side - ie simple supervisory job. the senior managers in PGS don't act or work because there is not incentive for them to perform.
    Promotion is in the form of IJP and is highly controversial. There are instances of employees being promoted because they played "Tambola" (Bingo) and hence contributed to organizational activities and therefore promoted! Promotion has come in the form of shooting an email to the CIO on asking how backups are taken!!
    Decisions are based on hearsay and loose talk - anyone can "conspire" against anyone by going to the senior management and saying that "he/she said like this...." and the management takes decisions on such loose talk. In fact, the concept of "spies" aka "khabaris" is common in PGS. Every manager has a gossip monger and more the filthy talk, better is the reward granted in promotions or townhall awards.
    Unethical practices like personal relations being favoured in job selection and promotions.
    Learning in technology and business is strictly restricted. Even exams for certifications can't be refunded, and domain knowledge and skill building is a strict no no. There are weird reasons for not supporting knowledge like "We don't want to build knowledge, we build relations".
    Some managers curse and use abusive language to employees and despite complaining to higher ups, things have been hushed up making a mockery of the so called employee values and ethical policies.
    Birthday celebrations for the so called top management are executed in style, the most of the lazy bunch practice for a day and when the d-day arrives, what you see is songs, Mexican waves, balloons and sycophants that can put the the middle age dark world to shame.
    You may be wondering what is US office doing despite knowing the razzmatazz in Pune? Perhaps, US office is the main culprit in the kind of total waste of Princial's public shareholder wealth. The cost to PGS is a hedge to the ineffective team of PGS so that US jobs are safe.

    Advice to ManagementAdvice

    None, they are in a world of their own!

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  11.  

    Great place to earn your wings, not so good once you have them.

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

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

    Pros

    Work Life balance is good in most areas. Retirement benefits are great, you get 401K and a pension. Onsite fitness center. Other benefits are OK. The people you work with are generally top notch, teams have a family feel. Some employees can work from home or remote.

    Cons

    If you work in a SCBU you'll have to deal with political infighting among the various business units. Once you reach a "senior" level in your position opportunities for advancement are slim to non existent if you don't have direct reports. Its not uncommon for senior staff level employees to retire having spent the previous 20 years with the same job title. At times work-life balance can tilt heavily towards work. Salary is on the high side of mediocre, other companies will pay more but Principal tries to make up for it with a flexible work environment. Another drawback is that during the remodeling some employees will get crammed into building with very little amenities.

    Advice to ManagementAdvice

    Treat all employees like you treat interns and you will get world class results on the annual EOS.

    Recommends
    Positive Outlook
    Approves of CEO

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