Principal Financial Group Reviews | Glassdoor

Principal Financial Group Reviews

Updated January 15, 2018
564 reviews

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3.5
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Daniel J. Houston
129 Ratings

564 Employee Reviews

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Pros
Cons
  • Pay is often not competitive for like positions in the Des Moines market (in 32 reviews)

  • Drive time to work so it would be nice to work from home (in 9 reviews)

More Pros and Cons

  1. Helpful (1)

    "Good company, but shrinking benefits"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - IT Analyst in Des Moines, IA
    Current Employee - IT Analyst in Des Moines, IA
    Recommends
    Positive Outlook
    Disapproves of CEO

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

    Pros

    Good health, stock & retirement plans, competitive pay, positive culture, great campus in Des Moines, work from home options. Work-life balance is generally good.

    Cons

    Benefits have been changing rapidly in recent years, while stock and company performance are the best ever. Most of the changes benefit the company financially and take away from the employee.

    Advice to Management

    Please consider adding benefits that differentiate yourself from other employers competing for your better employees. Continually reducing benefits for financial gain will eventually have a large impact on the company and its ability to retain (good) talent.


  2. "Financial Representative"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Principal Financial Group full-time

    Pros

    You get to start out with a salary for the first 6 months, so there's a floor to what you bring home. Very rare in the industry.

    Cons

    The success of the job depends ultimately on the individual.

  3. "Work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Approves of CEO

    Pros

    the hours are great. monday thru friday

    Cons

    sitting at a desk is not the best


  4. "Receptionist"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Principal Financial Group full-time

    Pros

    good benefits and good location

    Cons

    bad pay and management style


  5. Helpful (1)

    "Medium size company. The employees are mostly dedicated people but most management are bad"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - IT Programmer/Analyst in Raleigh, NC
    Former Employee - IT Programmer/Analyst in Raleigh, NC
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    Working from home, flexibility, modern buildings and work spaces, the worker bees, locations and ability to work remotely. Employees are very dedicated.

    Cons

    Low pay, team politics, old boys network, nepotism(It’s very common for upper management have family working here, and they do get preferential treatment), some people don’t get promotions regardless of the experience and dedication, some managers don’t even make eye contact with the regular Joe unless you play golf.

    They make you believe this is the best place to work(always on top 100 best places to work not sure how). Some departments are better than others. Do your home work before you apply here).

    Some of the benefits offered like the dental insurance is really the worst out there. No employee should have to pay for a plan that pays for no claims.

    On the outside, the place looks phenomenal (state of the art buildings), but inside it stinks rotten because of the bad culture. You have to be blind or build a tough skin to make it here. Lots of people with Assistant Directors, Directors and Vice Presidents titles but they don’t deserve it.


  6. Helpful (1)

    "Mixed"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Individual Investor Representative in Grand Island, NE
    Former Employee - Individual Investor Representative in Grand Island, NE
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Principal Financial Group full-time (More than 5 years)

    Pros

    Training was always available to improve skills on taking inbound phone calls and help was always available when you had questions about a product to explain to a customer.

    Cons

    You had to transfer to different departments to gain more experience and have opportunity for promotions to management. When trying to improve myself or gain more responsible I was always told don't worry your tun will come or master the products and we will talk about it later.

    Advice to Management

    When you see an employee with potential don't keep them down. Management needs to be more available to staff and not to be so dismissive of employees with talent or potential talent.


  7. "Retirement specialist II"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Retirement Specialist II in Cedar Falls, IA
    Current Employee - Retirement Specialist II in Cedar Falls, IA
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    Pros

    The cedar falls office does have a lunch room.

    Cons

    The management team micro manage, bullies, inflexible, pay is lower than the main corporate office, too much over time for work/life balance and not supportive of working mothers.

    Advice to Management

    Remove the management...especially the one with an outside craft. She provides more time to her craft than her job.

  8. "Overworked"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    Former Employee - Claims
    Former Employee - Claims
    No opinion of CEO

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

    Pros

    Well, you do get Excellent pay and Benefits

    Cons

    But... there is certainly and unreasonable workload with possible "mandatory overtime.."


  9. "Great CompanY"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Teleapp Counselor I in Des Moines, IA
    Current Employee - Teleapp Counselor I in Des Moines, IA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Principal Financial Group full-time (More than a year)

    Pros

    Flexible, tons of advancement opportunities, and great environment.

    Cons

    Tons of people work here.


  10. "DevOps/Software Engineering Intern"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Devops Intern in Des Moines, IA
    Former Employee - Devops Intern in Des Moines, IA
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Principal Financial Group (More than a year)

    Pros

    Very friendly workplace, decent compensation, lack of strict heirarchy

    Cons

    Work is very compartmentalized, making it somewhat cliquey. Lack of direction at times. Gossip


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