Principal Financial Group

www.principal.com

Principal Financial Group Reviews

Updated January 18, 2015
Updated January 18, 2015
214 Reviews
3.9
214 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Principal Financial Group Chairman, President and Chief Executive Officer Larry D. Zimpleman
Larry D. Zimpleman
134 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. 1 person found this helpful  

    "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
  2.  

    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
  3. 1 person found this helpful  

    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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  5.  

    Great company to work for

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Principal Financial Group

    Pros

    Successful company. Organized. Supportive.

    Cons

    Can be stressful at times...depends on the advisor you work for.

    Advice to ManagementAdvice

    Continue support for associate staff.

  6. 1 person found this helpful  

    Excellent at first but with a change of CEO and the recession the entire company culture changed.

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

    I worked at Principal Financial Group full-time (more than 10 years)

    Pros

    Good salary and excellent benefits. Ample opportunities for development.

    Cons

    Ineffective leadership at the team and department levels. A company culture that was more talk that action. Many things the company supported were not liked or supported by team and department leadership so those areas just missed out. When Barry Griswell was CEO there was a real "people" culture. When I left it was all about metrics, numbers and reporting. The people were undervalued, not recognized, and overworked.

    Advice to ManagementAdvice

    Make sure leaders/managers at all levels know how to support what HR promotes as the company culture. Fix the review system which is completely broken.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7.  

    Great first and last Internship

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

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

    Pros

    Real Project Experience
    Encouraged to Learn
    Leaders including Dan Houston willing to meet with Interns

    Cons

    Lots of first time internships.

    Advice to ManagementAdvice

    Continue to invest in Interns as a source of new technology.

    Recommends
    Positive Outlook
    Approves of CEO
  8.  

    Working for Principal was a fantastic experience with great team members.

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

    I worked at Principal Financial Group full-time (more than 3 years)

    Pros

    The pay and benefits are very good, with an excellent work-life balance to boot. Vacation time was excellent, 401K match was standard and the health benefits were great. It is a large company with a lot of room for improvement. Employees are also eligible for bonuses in most areas. Awesome food selections and location.

    Cons

    Promotions are a little lacking, even if just a title promotion such as Sr. etc. There is little to no recognition depending on your area, and the food is so good you gain too much weight!!!

    Advice to ManagementAdvice

    Continue to recognize those who improve processes, work hard and drive results.

    Recommends
    Positive Outlook
    Approves of CEO
  9. 1 person found this helpful  

    Some areas might be good but not all

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior IT Applications Analyst
    Former Employee - Senior IT Applications Analyst

    I worked at Principal Financial Group full-time (more than 3 years)

    Pros

    Decent, though not outstanding benefits; Fairly stable company; Their public facing image is terrific, very community minded, etc - don't seem as compassionate internally . . .

    Cons

    Training was non-existent; position was presented as one thing but in truth was very different; very indecisive and out-of control management; focused totally on short-term results not the right thing for customers; a lot of back-stabbing low end managers trying at all costs to rise above one another.

    Advice to ManagementAdvice

    Find some maturity in the management training processes. Don't reward those that just shift the blame to others.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10.  

    Very tech driven

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

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

    Pros

    As an IT Intern I got to work on real projects in many different fields. They also held an intern Code Jam (similar to a hackathon) where teams of interns competed to create the best web app. Overall great learning experience

    Cons

    For interns, it is difficult to get time to view other business units/positions. This would be helpful for young professionals who is not sure what they would like to do for a full time position.

    Advice to ManagementAdvice

    Keep up the good work but keep in mind after College it can be difficult to know exactly what career path an individual would like.

    Recommends
    Positive Outlook
    Approves of CEO
  11.  

    Great group of people in the Nashville office

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

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

    Pros

    The manager is hands on and a true mentor

    Cons

    dealing with big company politics

    Recommends
    Neutral Outlook
    Approves of CEO

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