Principal Financial Group

www.principal.com
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Employee Reviews

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  1.  

    Great company

    • 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 8 years)

    Pros

    People, culture, stability, future growth potential

    Cons

    Comp less competitive than other top companies in their peer group

    Advice to ManagementAdvice

    Break down some political barricades between operating units

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    Lots of opportunities for development.

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

    I have been working at Principal Financial Group full-time (more than 5 years)

    Pros

    Employees are supported in their decisions to move between departments and professional development is encouraged. For the most part they also support work life balance and have options to work remote some days of the week (depending on your department) or flexible starting/stopping hours.

    Cons

    They seem reluctant to pay market salaries even when they say they are going to start doing so- I was always at the 25th percentile in pay and it's hurting me now that I am job seeking. Also there are a lot of "lifers" there and it's hard to get people to accept change.

    Advice to ManagementAdvice

    Keep up the ethical "tone at the top."

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    My experience at Principal Financial Group was very positive.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - CSA Assistant in Cedar Falls, IA
    Former Employee - CSA Assistant in Cedar Falls, IA

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

    Pros

    The technology is one of the best. The training is excellent. A person is always challenged to learn and move ahead. The benefits, insurance, 401K, pension, dental, short term disability. Work from home. Opportunities to be innovative and creative.

    Cons

    A person will probably always work overtime which for some people can be a pro. Expectations are high, a person needs to have high quality work in a minimal about of time. To move ahead a person might have to move to another location.

    Advice to ManagementAdvice

    The best bosses and leaders get results by generously giving credit where is due. Generosity gene managers inspire trust and in doing so they unleash productivity and creativity.

    Recommends
    Positive Outlook
    Approves of CEO
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  5. 2 people found this helpful  

    Great Company, Bad Manager

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

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

    Pros

    For the most part, the people at Principal are great. Their commitment to the community and volunteering is unprecedented.

    Cons

    It's all about your team. I enjoyed most everyone I worked with at Principal except my own team. In addition, the company is very much a "Good 'ol Boys" mentality, where promotions are based on who's ass you've kissed and not about the talent of the individual.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  6. 4 people found this helpful  

    Unpleasant experience.

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

    I worked at Principal Financial Group full-time (less than a year)

    Pros

    the people, in general, were decent.

    Cons

    Frighteningly Incompetent management, serious lack of people skills.

    Advice to ManagementAdvice

    If your units need to hire someone, they really do need to make sure the manager of that unit is competent enough to make sure the new person is being trained and that those being asked to train by the manager FOLLOW THROUGH. I was asked to move here from my home in Mn, to work as a storage admin on a 10 month contract. Starting on 12/9/13 right before the corporate freeze. My first week was spent trying to get all the correct access required. (NO training took place.) My second and third week, smack dab in the middle of the freeze, when NOTHING was allowed to be done, I was told to familiarize myself with the processes used in excel. Again, because of the freeze, NO training. Come January 2nd,, when the freeze was done and everyone was back from their extended vacations, work was made available but guess what? No one had time now to train me fully on systems. Instead, I was given 42 workflows to enter into excel, which I completed properly in eight hours.

    At that point, i was ..let's call it gently admonished..for completing them all so soon because it meant the next person's queue was going to be loaded with workflows, and that I should do no more than 8-10 a day, despite the word "LATE" being attached to each workflow, as they were due days earlier.

    then... nothing else to do at for days on end, as no workflows could be created until new systems were set up for migration. Meanwhile, I asked constantly for new workflows and to be trained, only to be told by the one person who had been assigned to train me that he was too busy doing his own work to train me. (???) I approached others to see about training on the SVC, and Hitachi SM to learn Principal's processes but was continually put off or given only 15-20 minutes of training on a given day.

    Finally, the manager (in name / title only, really, as he's not at all cut out for this job beyond maintaining schedules) cancelled the contract that I moved here to do and to add insult to injury, rather than stating it was because they had nothing for me to do and no one would train me, (things about which I had contacted the company who placed me there more than once, btw) he stated I did not live up to expectations as the reason for cancelling the contract.

    The fact that I routinely came in 45 minutes early, Ate lunch at my desk every single day in case someone had time to train me, constantly asked for new workflows, constantly asked for training or ANYTHING else to do, instead of having to bide my time reading manuals and surfing the net. apparently counts in the eyes of principal as not living up to expectations.

    Of the total actual workdays there, more than 10 of which were under freeze, I think I had, realistically, about 90 minutes of actual training, and 14 hours worth of real work.

    So now I'm out $3,200.00 it cost to move to Des Moines (cost of truck rental, meals for those helping pack/move, fees for their time, having to break a lease where I was living, etc.) but I'm back on unemployment.

    This is NOT how to treat people.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  7.  

    Good work life balance

    • 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

    Pros

    Work life balance, flexibility, benefits

    Cons

    Compensation as compared to market

  8. 1 person found this helpful  

    Okay company to work for.

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

    I have been working at Principal Financial Group full-time (more than 5 years)

    Pros

    PTO accrual, ability to purchase time off, stock purchase options, decent insurance costs

    Cons

    Public company - focused more on shareholders than employees

    Advice to ManagementAdvice

    Listen to employees more. Quit wasting money and use that to increase wages instead.

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

    Outstanding opportunities for working women

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

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

    Pros

    Company is very pro-women advancement, and is extremely conscientious to be open to all cultural, gender, and other backgrounds without bias. The work is very interesting and they are open to discussion and suggestions

    Cons

    Some of the entry level positions are very numbers-driven and unrealistic on time demands. It can be very stressful to work here

    Advice to ManagementAdvice

    Please leave room for quality along with demanding the quantity. If you look only the numbers of calls made or the number of calls/emails taken care of...the question is... were they really taken care of. Was the question really considered and addressed rather than just firing off a quick reply without understanding what that customer was asking? When the numbers are too high,I can guarantee that many of the responses were of a mediocre nature, and creating many problems down the line for our company.

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

    Application Developer Intern

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

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

    Pros

    This is a great company not only to intern at but to start a career. Management is really open to intern ideas and ways that they can make the program better. A big beneficial part of the IT intern program is taking the opportunity explore other IT roles.

    Cons

    There weren't any cons of being an intern for this company. My voice was continually heard and they are really great at giving constructive feedback during the internship as well as formally at the end of the internship.

    Recommends
    Positive Outlook
    Approves of CEO
  11.  

    I interviewed and was hired as a Investment Advisor Representative with this company. The process was smooth but long.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Contractor - Investment Advisor Representative in Roseville, CA
    Current Contractor - Investment Advisor Representative in Roseville, CA

    I have been working at Principal Financial Group as a contractor (more than a year)

    Pros

    They are really concerned with that the applicant understands the difficulty of the road ahead.

    Cons

    The testing phase is without pay. An applicant is required to cover the costs of the tests/prep, can be over $1000.

    Advice to ManagementAdvice

    I think the management is doing a good job of informing and inspiring potential job applicants.

    Recommends
    Positive Outlook
    No opinion of CEO

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