Principal Financial Group Reviews | Glassdoor

Principal Financial Group Reviews

Updated November 16, 2017
557 reviews

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3.5
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Daniel J. Houston
123 Ratings

557 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. "Great Place to Work"

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

    Pros

    Flexibility; Best in Class; Great Corporate Citizen

    Cons

    Insurance/Financial Services; large corproate atomosphere (sometimes slow to react)

    Advice to Management

    Continue to promote from within.


  2. "Great Place to Work"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Employee Benefit Specialist in Charlotte, NC
    Current Employee - Employee Benefit Specialist in Charlotte, NC
    Recommends
    No opinion of CEO

    Pros

    They care about the employees and have great benefits. It is a close group of people with which I work. They are willing to spend money on the employees to offer nice benefits which makes us want to work harder for the success of the company.

    Cons

    The biggest downside that I have found is the computer systems used by Principal. They seem to be out of date and hard to use compared to other companies in the industries.

    Advice to Management

    Continue to view your clients as the employees of the company as well as investors.

  3. Helpful (1)

    "Principal Financial Group from the eyes of an intern"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - IT Intern in Des Moines, IA
    Current Employee - IT Intern in Des Moines, IA
    Recommends
    Approves of CEO

    Pros

    Princiapl offers a very flexible work schedule, great people to work with, and a great environment to work in. People are there to help youif you need it, leave you alone if you don't, and they pay very well compared to compeitive intern positions I've seen. The work loads are reasonable, I have not heard anyone truly complain about their load or not having time or help to get it done. But there still is a push to be the best everyone can be and move as quickly as possible without wearing on people like some companies I've heard do.

    Cons

    I honestly have not run into any major issues that would make me not want to work here full time. The parking situation is my only gripe, but they are currently building a large parking garage across the street from the building I work in that I can probably end up in. As of now, they are busing people to and from a flat lot, which while they are making their best attempt to accomodate the employees, it still adds 20-30 minutes to your day, and you have to show up and leave by the bus schedule. Nothing in the office is a turn off for this job so far.

    Advice to Management

    The senior management at Principal Finiancial Group is very determined and very precise with what they want from us as employees, and what they want for the company. Their goals are precisely set and measured, and often reacehd here, and they reward the employees for reaching them.


  4. "Principal, a great place to work!"

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

    Pros

    Flexible work hours, excellent benefits, great work environment, and opportunities for growth. They also embrace technology and business partners work closely with IT to produce solutions that fit the need of our customers. And finally there are lots of different ways Principal reaches out to the community. Many of our casual days require us to pay a small amount of money that goes to charity and many times we are presented with different causes to support. It's good to know that my employer has an eye on the whole community.

    Cons

    Change is something you need to get used to. If you are someone who does not embrace changes with a positive state of mind then this may not be the company for you. However, in the years I've been at Principal Financial the change is usually a good thing.

    Advice to Management

    Keep up the communication. There are so many new things happening at Principal that it gets hard to keep focused on the overall goal. We get frequent reminders of our policies and goals as a company, and when something isn't going right it doesn't get shoved under a rug. Instead the management steps up and helps us get back on track.


  5. "Principal is a top place to work!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Relationship Manager in Atlanta, GA
    Current Employee - Senior Relationship Manager in Atlanta, GA
    Recommends
    Approves of CEO

    Pros

    Principal strives to give it's employees a great work/life balance. They see their employees as their greatest asset.

    Cons

    Employees who have been with the company a long time or have never worked anywhere but the Principal sometimes don't see the larger picture.

    Advice to Management

    Keep up the great work. It's a great company and a great place to work.


  6. "The Principal Financial Group is top-notch!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Accounting Intern in Des Moines, IA
    Former Employee - Investment Accounting Intern in Des Moines, IA
    Recommends

    Pros

    The Principal Financial Group has great company culture. It is a fun place to work, and makes life easy. There is a top-quailty Wellness Facility, on-site banking, dry cleaning, and pharmacy, and a great cafeteria. It is easy to get around to all the buildings. There is a large opportunity for growth within the company, and there are tons of areas you can work in.

    Cons

    Des Moines isn't the greatest city in the U.S.

    Advice to Management

    They are doing a great job


  7. "Great company, great people, leader in the retirement industry"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President Sales in Grand Rapids, MI
    Current Employee - Vice President Sales in Grand Rapids, MI
    Recommends
    Approves of CEO

    Pros

    great senior management leadership, great products, award winning service, excellent total compensation package. There is reason why so many people at PFG have 20 plus years with the company

    Cons

    too much middle management, need more people from the outside, not enough product development, improve incentives for service team

    Advice to Management

    cut middle management, increase product pipeline, more incentive for consistent year over year production

  8. "Tough business to start, but worth it when you make it."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Tampa, FL
    Current Employee - Financial Advisor in Tampa, FL
    Recommends
    Approves of CEO

    Pros

    Great company and support. Independence wihout being on your own entirely. Great group of producers and advisors to lean on and learn from.

    Cons

    More than half will burn out or give up. Toughest job ever. Do not try if you are not commited.

    Advice to Management

    Get long time producers involved in training earlier on. Focus on investment knowledge for new producers as well as insurance.


  9. "Great Place to Work."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Des Moines, IA
    Current Employee - Anonymous Employee in Des Moines, IA
    Recommends
    Approves of CEO

    Pros

    Great Place to Work and they offer great benefits

    Cons

    Promotions are difficult to obtain


  10. Helpful (2)

    "Career redo"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Minneapolis, MN
    Current Employee - Financial Advisor in Minneapolis, MN
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Midwestern sensibilities. Well managed. Great culture. Support and encourage entrepreneurship. Best or next best-in-class in all core competencies: Retirement, insurance and investments. Great benefits. Great overall employee experience.

    Cons

    At times cautious to their detriment. With few exceptions their platform--pricing and client solutions--are available to captive and non-captive advisors alike.
    Captive advisors, while we are open architecture (full access to non-Principal products), there is an over-emphasis via compensation disparity to favor PFG whenever possible. Coming from twenty year advisor and management wirehouse background where proprietary product favoritism was regulated out of existence, unsure how they get away with it. But who am I to complain?
    Statutory employee--employer relationship (advisors are essentially contract employees with full benefits), while appealingly flexible for advisors, is said to be not-so-much in the eyes of the IRS!

    Advice to Management

    Mine has a tendency to over-promise. I think they could also benefit from making more of an effort to keep the stresses of management, particularly things that crowd out--even if only perceived by the advisors--time and advisor space ought to be kept to themselves. "If it doesn't directly impact my world, or negatively does so, I don't want to hear about it. And I sure don't want you using it as an excuse where my wellbeing is concerned."


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