Principal Financial Group Reviews | Glassdoor

Principal Financial Group Reviews

Updated April 25, 2017
316 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. "Accountant"

    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
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Senior leaders are genuinely interested in personal development and aiding employees to meet their career goals. Salaries are more than fair and the bonus program is generous.

    As an employee, I am pushed to be innovative in my space and share ideas. As a leader, I am taught to coach my direct reports to do the same.

    Principal is financially conservative but socially liberal and is doing a great job of developing a culture of inclusion and diversity.

    Cons

    They tighten up budgets when the economy gets rough, but doesn't loosen reigns when the market stables. Like many companies around the world, employees are asked to do more with less.

    Advice to Management

    Continue to actively listen to employees and demonstrate you are really listening.


  2. Helpful (1)

    "Overall a great place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - IT Applications Analyst - Lead in Des Moines, IA
    Current Employee - IT Applications Analyst - Lead in Des Moines, IA
    Recommends
    Positive Outlook

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

    Pros

    Decent pay, great benefits, flexible hours, good work environment, etc

    Cons

    Limited chance for growth. You'll find that PFG will appreciate the work you do more if you leave the company and come back.

    Advice to Management

    I'd like to see PFG stop shutting down business units. Management use to brag about the diverse products but now all the eggs seem to be in one basket.

    It would also be nice to actually see senior management. I've been to companies that were similar in size and it wasn't uncommon for the CEO to visit your work area once a year or so. In 10 years I've never seen any of the senior management visit the work areas and in 8 of those years they were in the same building as me.


  3. Helpful (1)

    "Compliance Analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Compliance Analyst in Des Moines, IA
    Current Employee - Compliance Analyst in Des Moines, IA
    Recommends
    Neutral Outlook

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

    Pros

    Great company culture and benefits. Many driven and ambitious people, lots of learning opportunities. Flexible work life.

    Cons

    Disconnect between the different divisions. Very few opportunities outside of Des Moines.


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  5. "Principal Employees"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Defined Benefit Technician in Mason City, IA
    Current Employee - Defined Benefit Technician in Mason City, IA
    Recommends
    Positive Outlook

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

    Pros

    Amazing benefits and opportunities for growth. Top rated company, even if the job sucks you stay for the company and the perks and balance of work and life.

    Cons

    Lots of overtime due to baby boomers, just in this position.


  6. Helpful (5)

    "SAY No to Claim Life if you want to Live Your Life"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Claims Examiner- Claim Analyst in Des Moines, IA
    Current Employee - Senior Claims Examiner- Claim Analyst 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 3 years)

    Pros

    All of the fringe benefits are positive-
    Flexible in the hours you actually work, good food , healthy options and homemade options with on site cafe, good work out facility, decent benefits, clean working environment.

    Cons

    Management is cliquish, HR is sub-par, and the salary can be at the bottom of the range
    They are working on this in the claims department trying to bring up the pay to be on par with other claims departments in the area.

    If you are hired hourly you are expected to work 50 plus hours as needed. Which ends up being all the time. So the flexibility is just in the hours you work but you will actually be working all the time. Good if you just want to make money and have no life.

    Claim work is exhausting. It has a very high burnout rate and management does not have a clue on how to fix the problem- which seems simple HIRE more people and increase retention of the employees you already have, by treating them better!
    Career opportunities are non existent in the Claim department.

    Advice to Management

    Treat your employees better! Increase retention rate by hiring enough people to handle the work load.


  7. "Claims Examiner"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Claims Examiner in Altoona, IA
    Current Employee - Claims Examiner in Altoona, IA
    Positive Outlook
    Approves of CEO

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

    Pros

    Great company. Currently renovating entire headquarters campus.

    Cons

    Claim examination can take a lot out of you.


  8. "Great company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Cincinnati, OH
    Current Employee - Anonymous Employee in Cincinnati, OH
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Benefits and compensation. Opportunities for growth.

    Cons

    Corporate culture and policies are inconsistently adhered to or followed in field offices.


  9. "Great Company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Distribution - Sales (Pension) in Des Moines, IA
    Current Employee - Distribution - Sales (Pension) in Des Moines, IA
    Recommends
    Positive Outlook

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

    Pros

    Outstanding retirement plans, strong matching on 401K and a Cash Balance PENSION. Really value work/life balance. Nice campus with tons of amenities on site.

    Cons

    Principal is still an insurance company at its core, so if you are looking for a TRUE hardcore investment management company, this isn't it. Sometimes wish our investment product line would be deeper.

    Advice to Management

    More emphasis on customer experience and the aspects that actually affect customer experience.


  10. Helpful (2)

    "Senior manager in marketing"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Manager in Tampa, FL
    Current Employee - Senior Manager in Tampa, FL
    Doesn't Recommend
    Disapproves of CEO

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

    Pros

    Good salary and medical benefits

    Cons

    Patronage ridden with loyalists to Des Moines hdg. Not innovative. Even tried to sell expensive mutual funds to own employees. Will rip off their own clients. A dull workplace.

    Advice to Management

    You will never break the patronage culture. Hope the DOL and SEC investigate you.


  11. "Great first job!"

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

    Pros

    Great work life balance in my area (e.g. can take PTO whenever needed); leaders are perceptive to when change is needed/wanted

    Cons

    Wish it was easier to work from home or if there were more locations around Des Moines to work from

    Advice to Management

    Keep it up! New brand unveiling was a needed facelift - great job being perceptive to that


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