Principal Financial Group

  www.principal.com
  www.principal.com
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Principal Financial Group Reviews

Updated September 12, 2014
Updated September 12, 2014
188 Reviews
3.8
188 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
119 Ratings

Review Highlights

Pros
  • work life balance, collaborative work culture, approachable leadership, good salaries (in 38 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)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1. 1 person found this helpful  

    Great culture and company. Industry leader and well respected.

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

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

    Pros

    Benefits are robust, PTO best in industry, pension still available, and vested after 3 years. Even better opportunities in Des Moines. Great home office campus. Great company to settle into.

    Cons

    Satellite office has limited advancement opportunity. Compensation could be slightly higher for internal candidates.

    Advice to ManagementAdvice

    Keep it up!

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    Great company and culture

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

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

    Pros

    benefits, PTO, Work life balance, Culture, Salary

    Cons

    Not a lot of advance opportunity outside of Des Moines.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Great Company

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

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

    Pros

    Great company to work for Great benefits wish I had never left.

    Cons

    It is a growing company and if size matters, you might get caught up in a corporate setting that loses its personal touch

    Recommends
    Positive Outlook
    Approves of CEO
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  5. 1 person found this helpful  

    Below average salary and benefits

    Current Employee - Senior IT Analyst  in  Des Moines, IA
    Current Employee - Senior IT Analyst in Des Moines, IA

    I have been working at Principal Financial Group full-time

    Pros

    People are nice and the work isn't hard.

    Cons

    Welcome to the land of COBOL and the 2% raise. Principal has always paid below market, but at least it used to have good benefits. In the past few years everything got stingier. If you have technical skills, look elsewhere.

  6. 1 person found this helpful  

    satisfactory, although a bit boring, corporate experience

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

    I have been working at Principal Financial Group for more than 8 years

    Pros

    people are authentic and the work environment is healthy

    Cons

    compensation can be an issue. HR always wants to fall a bit below the curve.

    Recommends
    Positive Outlook
    No opinion of CEO
  7. 1 person found this helpful  

    Started good, ended bad.....

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

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

    Pros

    I did go through a training program and I appreciate that. Okay benefits, low wages.

    Cons

    No hope for advancement unless you are in good with the management team. The pay is low and they wont let you apply for jobs within the company that are more than one notch above where you are currently at. It is not a family friendly place if you are one of the many low level employees. It apparently is family friendly if you are a high level employee, and get all kinds of perks. Middle managers think they are God....It was only after I left and was at another job that I realized how suffocated I was at PFG.

    Advice to ManagementAdvice

    Nothing... it is what it is.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  8.  

    Great company, if you happen to be in the right clique...

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

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

    Pros

    Principal used to be a great place to work. They had great benefits and promoted their culture as a positive reason to remain with the company. This was back when they regularly were named one of Forbes "Best Places To Work", in the mid 2000's.

    Cons

    There's a reason Principal is no longer named on the Forbes list. The atmosphere has really been degraded since 2008. Mid-management has gotten weaker and weaker, while upper management has become more focused on moving the stock price. This has led to a dilemma for many employees: do the right thing for the client and face a backlash from management or toe the company line and leave your professional integrity at the door. Their compensation package tells you all you need to know...

    Advice to ManagementAdvice

    Clean up the "good old boy (and girl)" network in middle management. It's a joke that certain employees are still employed, while great people are leaving out of frustration.

    Neutral Outlook
    No opinion of CEO
  9.  

    good people, ethical company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Account Executive II  in  Chicago, IL
    Current Employee - Account Executive II in Chicago, IL

    I have been working at Principal Financial Group full-time for more than 8 years

    Pros

    Room for development and growth within the organization

    Cons

    have to play politics at times

    Advice to ManagementAdvice

    align incentives with organizational goals then give more autonomy

    Recommends
    Positive Outlook
    Approves of CEO
  10. 1 person found this helpful  

    Compensation

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

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

    Pros

    Great benefits. Work cuulture is one of the best.

    Cons

    Low salaries. Not close to market.

    Recommends
    Neutral Outlook
  11.  

    Average/Good company overall; be aware of what dept you work in, make a huge difference(stay away from RIS)

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

    I have been working at Principal Financial Group full-time for more than a year

    Pros

    -Salary is competitive in most roles (compared to large markets)
    -PTO and general benefits are great, best I've seen or had
    -Plenty of non work functions; cheap tickets, socials, etc
    -Several gyms and locker rooms(very outdated though but are about to remodel), Upper Mgmt is proactive with health
    -dining options

    Cons

    -Each dept is run COMPLETELY different
    -Numerous people in roles they are not qualified for or have 0 experience in
    -promotions and salary are based on time at PFG, not your skill set or performance;
    hard to get a fair look when wanting to change areas, pigeon holed to same area for long time unless VP/C level. A lot of people in same role/area for 10+ yrs. get title promotions is all!
    -people can just hide behind monitor or not be at desk and float by
    -Mgmt makes up meetings so they don't have to work, pass off tasks to those below, Mgmt does very little, just talk about things and do nothing
    -people are ask to meetings they have no business being in; politics and kissing!
    -culture is promoted but it is not the best; a lot of talk but no walk
    -Downtown traffic and not much for attractions
    -Remodel is going to take a long time and cause a lot of headaches
    -dining is expensive

    Advice to ManagementAdvice

    Look at what you managers actually do! I don't mean C level either. VP's, directors, asst directors, asst managers don't do anything in the dept's i know. most are unqualified for their roles & ask others (in lower roles) what they should do. Get buy in from lower levels and stop glad handing "management" (used loosely)

    Recommends
    Neutral Outlook
    Approves of CEO

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