Principal Financial Group

  www.principal.com
  www.principal.com

Principal Financial Group Reviews

Updated December 3, 2014
Updated December 3, 2014
207 Reviews
4.0
207 Reviews
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Principal Financial Group Chairman, President and Chief Executive Officer Larry D. Zimpleman
Larry D. Zimpleman
132 Ratings

Review Highlights

Pros
  • The pay and benefits are very good, with an excellent work-life balance to boot (in 43 reviews)

  • Great benefits, which is nice because salaries are less than annual averages (in 20 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.  

    Equal not better than peers

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Team Lead - Retirement Services in San Mateo, CA
    Current Employee - Team Lead - Retirement Services in San Mateo, CA

    I have been working at Principal Financial Group

    Pros

    The Principal is a steady company and has made strides in being a more well rounded financial services firm.

    Cons

    It still acts and behaves like an old school insurance firm

    Advice to ManagementAdvice

    Continue to transform the culture which is far from over.

    Approves of CEO
  2.  

    Great Place to Work

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

    I have been working at Principal Financial Group

    Pros

    Flexibility; Best in Class; Great Corporate Citizen

    Cons

    Insurance/Financial Services; large corproate atomosphere (sometimes slow to react)

    Advice to ManagementAdvice

    Continue to promote from within.

    Recommends
    Approves of CEO
  3.  

    Consistently the best

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

    I have been working at Principal Financial Group

    Pros

    Principal Financial is a great employer because they take time to listen to employees. Twice a year there is a Town Hall style meeting with senior management to ask them questions. The benefits are almost overwhelming at first, especially since they offer coverage for domestic partners. The society and scope of the company is large enough that anyone can fit in any where, but not as corporate drones. Every one is encouraged to volunteer in the community, better themselves through the education tuition reimbursement, or any number of ways. Plus, the headquarters is located in downtown Des Moines, Iowa, a fairly up and coming midwestern population center.

    Cons

    Sometimes you can get stuck in a department that you don't like, but with the size and scope of what Principal does, it seems sometimes the company molds to the individual employee to make it better.

    Advice to ManagementAdvice

    Stay the course.

    Recommends
    Approves of CEO
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  5.  

    Great Place to Work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Employee Benefit Specialist in Charlotte, NC
    Current Employee - Employee Benefit Specialist in Charlotte, NC

    I have been working at Principal Financial Group

    Pros

    They care about the employees and have great benefits. It is a close group of people with which I work. They are willing to spend money on the employees to offer nice benefits which makes us want to work harder for the success of the company.

    Cons

    The biggest downside that I have found is the computer systems used by Principal. They seem to be out of date and hard to use compared to other companies in the industries.

    Advice to ManagementAdvice

    Continue to view your clients as the employees of the company as well as investors.

    Recommends
    No opinion of CEO
  6. 3 people found this helpful  

    A great place for an on-the-job vacation.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Investment Analyst in Seattle, WA
    Current Employee - Investment Analyst in Seattle, WA

    I have been working at Principal Financial Group

    Pros

    Excellent benefit package, good work-life balance. Lots of vacation and sick time. Good retirement package. Low expectations sort of job. Friendly, easy going place to work. is is is is is is isi s is is is is is is is is is is is is is is is is is is i s is is is is is is i s -- Sorry, but they made me use 100 words and I had nothing more to say.

    Cons

    Lack of career opportunities in certain fields. Weak payscale. Not particularly ambitious when motivating employees. Work environment suited best to clerks and admin people, they don't treat professionals as well as higher-class firms.

    Advice to ManagementAdvice

    Raise the intellectual level of communications with employees.

    Recommends
    No opinion of CEO
  7.  

    Not marketing-driven

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

    I have been working at Principal Financial Group

    Pros

    Fantastic benefits (especially for the Des Moines area and the Midwest), great company reputation in the industry and in the region, and good work/life balance. Performance is rewarded with career advancement, but most likely not at the pace that many people would expect. Corporate headquarters is located in downtown Des Moines, which is experiencing cultural growth. Des Moines has been rated a great place to live and to raise a family, and the cost of living is very manageable.

    Cons

    The division of labor is so great that roles and responsibilities can be quite limited in scope, greatly reducing the satisfaction (and amount) of day-to-day work. There is quite a bit of role overlap in the various marketing areas, leading to tension and turf battles over strategies and initiatives. The advancement of initiatives requires a HUGE amount of buy-in, almost to the point of becoming unmanageable. Senior leadership seems to be frequently engaged in internal political issues. There is a lot of lip service paid to observing and sharing marketing best practices, but much is left to be desired in the actual application of these practices. Marketing in general does not seem to have a leadership position within the company. On a minor issue, there seems to be almost too much internal communication.

    Advice to ManagementAdvice

    "Right-size" throughout. Develop and implement true marketing principles from the bottom up, not from the top down. Stop driving decisions based on political considerations. Evaluate talent from a professional skill perspective, and not so much from a personality/loyalty perspective. Become a client-focused organization through an improved customer experience.

    No opinion of CEO
  8. 1 person found this helpful  

    Principal Financial Group from the eyes of an intern

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

    I have been working at Principal Financial Group

    Pros

    Princiapl offers a very flexible work schedule, great people to work with, and a great environment to work in. People are there to help youif you need it, leave you alone if you don't, and they pay very well compared to compeitive intern positions I've seen. The work loads are reasonable, I have not heard anyone truly complain about their load or not having time or help to get it done. But there still is a push to be the best everyone can be and move as quickly as possible without wearing on people like some companies I've heard do.

    Cons

    I honestly have not run into any major issues that would make me not want to work here full time. The parking situation is my only gripe, but they are currently building a large parking garage across the street from the building I work in that I can probably end up in. As of now, they are busing people to and from a flat lot, which while they are making their best attempt to accomodate the employees, it still adds 20-30 minutes to your day, and you have to show up and leave by the bus schedule. Nothing in the office is a turn off for this job so far.

    Advice to ManagementAdvice

    The senior management at Principal Finiancial Group is very determined and very precise with what they want from us as employees, and what they want for the company. Their goals are precisely set and measured, and often reacehd here, and they reward the employees for reaching them.

    Recommends
    Approves of CEO
  9.  

    Promotes work-life balance, great benefits

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • 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

    Pros

    work life balance, benefits package, great place for women to work

    Cons

    largest employer in Iowa, so lots of competition to advance.

    Advice to ManagementAdvice

    work to reduce underacheiving employees so high performing can be rewarded fairly.

    Recommends
    Approves of CEO
  10.  

    Principal, a great place to work!

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

    I have been working at Principal Financial Group

    Pros

    Flexible work hours, excellent benefits, great work environment, and opportunities for growth. They also embrace technology and business partners work closely with IT to produce solutions that fit the need of our customers. And finally there are lots of different ways Principal reaches out to the community. Many of our casual days require us to pay a small amount of money that goes to charity and many times we are presented with different causes to support. It's good to know that my employer has an eye on the whole community.

    Cons

    Change is something you need to get used to. If you are someone who does not embrace changes with a positive state of mind then this may not be the company for you. However, in the years I've been at Principal Financial the change is usually a good thing.

    Advice to ManagementAdvice

    Keep up the communication. There are so many new things happening at Principal that it gets hard to keep focused on the overall goal. We get frequent reminders of our policies and goals as a company, and when something isn't going right it doesn't get shoved under a rug. Instead the management steps up and helps us get back on track.

    Recommends
    Approves of CEO
  11.  

    Principal is a top place to work!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Senior Relationship Manager in Atlanta, GA
    Current Employee - Senior Relationship Manager in Atlanta, GA

    I have been working at Principal Financial Group

    Pros

    Principal strives to give it's employees a great work/life balance. They see their employees as their greatest asset.

    Cons

    Employees who have been with the company a long time or have never worked anywhere but the Principal sometimes don't see the larger picture.

    Advice to ManagementAdvice

    Keep up the great work. It's a great company and a great place to work.

    Recommends
    Approves of CEO

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