Principal Global Reviews

Pros

Good people, lots of room to work independently, company involved in the community and gives time to employees to volunteer. In my department hours were flexible as long as you got your work done and attended floor meetings.

Cons

Little formal training for the position. It was a learn on the job atmosphere with a very steep learning curve. A little more standardized training would have helped put people on the same skill level. When layoffs started there was never really a clear reason given for why certain people were let go, you just had to make your own assumptions.

Advice to Senior Management

Develop a formalized or standardized training program for entry-level position so employees can feel more competent in their positions. Be more realistic about timelines for new systems because nobody believes the dates as stated, the projects are constantly behind.

Pros

Fellow staff employees at Principal Global Investors are well qualified and very competent. Many employees have significant experience, although company doesn't necessarily value this.

Cons

Company pays long time employees poorly, taking advantage of limited opportunities in the Midwest markets. Historically anyone who dared raise objections to any management move was labeled "not a team player", with career opportunities truncated. During crisis of 2008-2009, significant staff was laid off, while virtually no managers lost their positions. Employees have consistently voiced complaints in employee surveys, with limited actions by management (I don't plan to fill out survey again anytime soon -- questions about management performance are limited and rigged to be vague).

Advice to Senior Management

The lack of respect for staff employees at the top of the organization is palpable. With this type of leadership, dysfunctional environment will likely continue.

Pros

Generally friendly people, many hard-working, strong emphasis on work-life balance, some (not many) legacy benefits, family friendly and low cost of living Midwest environment

Cons

Largely weak senior mgmt team, seriously damaged investment performance, US/Midwest view of investing, uninspiring pay, benefits progressively downgraded, passive-aggressive culture. Marked deterioration in quality of PFG's CEO is a liability for PGI, esp since he decidedly would prefer to keep PGI on a leash.

Advice to Senior Management

Mgmt group think and uninspiring performance can't be totally blamed on the strong Iowa perspective among the rank and file...or on PFG smothering. Culture comes from the top. Always chasing the latest investment product is great for ST bonuses, poison for LT success. How about getting back to investment fundamentals?

Pros

Great work-life balance, sometime a little more life than work especially with management. Very casual enviorment with less of the attitude and politics of other Wall St. firms

Cons

Poor compensation and bonususes are almost non-existant. Review are pointless and when it comes to bonus time senior managerment always seem to find money for themselves but expect you to understand that these are difficult times. Clear cronyism on all levels. Senior management is not the brightest by any stretch of the imagination, and junior expressing any ambition to contribute beyond their role is immediatley squashed.

Advice to Senior Management

Training program, create a meritocracy not an aristocracy.