Principal Financial Group Reviews | Glassdoor

Principal Financial Group Reviews

Updated May 17, 2017
512 reviews

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Full-time Part-time

3.4
Star Star Star Star Star
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Daniel J. Houston
102 Ratings

512 Employee Reviews

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Pros
Cons
  • slow advancements unless you move to Des Moines (in 29 reviews)

  • Wish it was easier to work from home or if there were more locations around Des Moines to work from (in 8 reviews)

More Pros and Cons

  1. "Decent place"

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

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

    Pros

    nice place with good work environment.

    Cons

    low starting salary and limited income growth when promoted

    Advice to Management

    too much HR. could use some cost saves in that area.


  2. "Financial Representative"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Services Representative in Lansing, MI
    Current Employee - Financial Services Representative in Lansing, MI
    Doesn't Recommend

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

    Pros

    High income opportunity, challenging and rewarding. Practice holistic financial planning.

    Cons

    Lack of management, support and training that's applicable to real life client situations. Not designed for individuals just starting out in the financial advising industry - more fit for those who are transitioning from another firm

    Advice to Management

    Revise your training processes - they are not being used regularly by those who are successful in the field. Design a program that sets your new hires up for success rather than throwing them in to something for them to figure out on their own. Bring a focus back to the future employees of the company rather than those who are already successful. Stay committed to the promises you make.


  3. "Financial advisor"

    Star Star Star Star Star
    Former Employee - Financial Advisor in The Villages, FL
    Former Employee - Financial Advisor in The Villages, FL
    Recommends
    Positive Outlook

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

    Pros

    Principal is a company of great integrity and ethics. They invest in all their reps and give them the necessary tools to exceed.

    Cons

    None really just need to be committed to work hard to succeed because it is 100% commission.

    Advice to Management

    None


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  5. "Wouldn't recommend"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Annuity Technician I in Grand Island, NE
    Former Employee - Annuity Technician I in Grand Island, NE
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    Flexible, if management likes you.

    Cons

    Slow advancement, don't like hard workers, management

    Advice to Management

    Stop being so political and let people work. Don't show favoritism.


  6. "Excellent Work/Life balance"

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

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

    Pros

    Work/life balance, flexibility, job opportunities, variety, benefits, strong senior leadership, solid financial standing

    Cons

    Lower base salary, can feel like a number in a big company, less perks through out the years.

    Advice to Management

    Allow more employee empowerment, increase perks starting with base salary.


  7. "Positive Work Environment"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Salt Lake City, UT
    Former Employee - Anonymous Employee in Salt Lake City, UT

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

    Pros

    The expectations were aggressive, yet realistic and attainable. Great management. Never dreaded going to work.

    Cons

    They made a business decision to exit the medical insurance business which is why I am no longer working there.


  8. Helpful (2)

    "A Good Place to Work... If You're a Kiss-Up"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Des Moines, IA
    Current Employee - Anonymous Employee in Des Moines, IA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Work/Life balance
    Flexible hours
    Good cafeteria

    Cons

    Middle Managers
    Performance toteming system
    Varying yearly bonus instead of market-level salaries
    Health care benefits
    Technology

    Advice to Management

    Train your middle managers to distinguish high performers from low ones. Having employees rate each other every ten weeks leads to competition rather than collaboration. The toteming system does not recognize the best and brightest, but those who schmooze well with others, primarily their boss.

    Managers delegating work is not employee empowerment.

    If a hostile work environment is reported, action needs to be taken. "I didn't see it" is the wrong answer.


  9. Helpful (4)

    "Girls Club"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst in Des Moines, IA
    Current Employee - Analyst in Des Moines, IA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Cliquish - apparently a great place for women in management, to relax.
    They will ask for your input to feign consensus, then dismiss it out of hand.
    There is a significant amount of make work, that is, more important than real work.
    Conference rooms for projects are full of people around the table most have very little reason of being there, then claim they were never told about x.y.z.
    Female management will mother hen every thing.
    Agree with the most absurd plan your "leader" presents and you are GOLDEN.
    Best to just simply play dumb, and simply just not care.

    Cons

    The favorites are well known, as are the patsy's.
    If your thoughts are dismissed management will laugh behind your back, then expect to be "counseled". Strike ONE
    The continual churn of the make work is embarrassing:
    Project managers insist that the project fits into their personal template method.
    Project managers insist on using a past projects, that are similar in name only to populate the new project. This leaves no room for something new or different. All tasks must be accounted for. Most tasks are left N/A. Then the project team goes through each task to scrutinize each task, followed by mass confusion. STRIKE 2
    Mother Hen / Queen Bee will scrutinize every word you write, every word you say. They will guide you to go left when straight is the correct course, the project team will demand to go right even after advising of the risks. Strike 3
    After some further manipulation, it is broadcast that you are not a team player.
    Management decides to coach you, and now you are officially blackballed. From that point on your management will always go all historical on you. Many are kept around as patsy's. Most simply claim they don't know anything about anything to avoid any and all possible work. Many Many others are just simply bullied, until the preference is to kill yourself.
    PFG claims to be the most ethical company.
    Employee class action (settled) showed that the only offered 401K investment vehicles chosen were offered by PFG which carried significantly higher fees than nearly identical index funds. These higher fee funds have now been replaced with a percentage rate management fee, which now suggests PFG will make more money off of employees retirement accounts.

    Advice to Management

    Stop confusing legal with ethical.
    Stop pretending that you value employee's input.
    Stop feeding the clear favoritism towards women. Is PFG a sorority?
    PFG as an organization is not always correct understand that.
    Stop enabling the principal cultural bullies.


  10. "Asset management for 7 years"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Asset Manager in Des Moines, IA
    Former Employee - Asset Manager in Des Moines, IA
    Recommends
    Approves of CEO

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

    Pros

    Benefits, 401k, great people and leadership

    Cons

    Work life balance and political environment


  11. "Working for Principal"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment & Product Proposal Specialist in Seattle, WA
    Current Employee - Investment & Product Proposal Specialist in Seattle, WA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Principal Financial Group full-time (More than 3 years)

    Pros

    Flexible work time (allows for work/life balance); good benefit package; empowered environment

    Cons

    Some areas can be political


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