Principal Financial Group Reviews | Glassdoor

Principal Financial Group Reviews

Updated April 21, 2017
500 reviews

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500 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. "VP of Sales"

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

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

    Pros

    Great culture and integrity. Industry leader focused on customer service.

    Cons

    Managing large business in ultra-competitive marketplace. - maintaining high customer service levels while offering competitive pricing structure.

    Advice to Management

    Continue to focus on most important resources


  2. "Good Pay, Less work, Stagnant Growth after a while..."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Associate Consultant in Pune (India)
    Former Employee - Associate Consultant in Pune (India)
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Principal Financial Group full-time (More than 3 years)

    Pros

    Work Life balance, less work, Encouraging L1 and L2s

    Cons

    L3, Less opportunities in role progression, Managers keep favorites, Agile practices slows down the productivity

    Advice to Management

    Increase employee engagement activities, be a bit strict on L3s


  3. "TeleApp Counselor"

    Star Star Star Star Star
    • 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

    Great team, great benefits, and great pro!

    Cons

    No room for growth, but it's a well paid job for what you do.

    Advice to Management

    Improve/update the system.


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  5. "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.


  6. Helpful (2)

    "Dinosaurs still roam in Des Moines, Iowa."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I worked at Principal Financial Group full-time

    Pros

    One of the few things to evolve beyond the Triassic period is the flexibility for some jobs to work from home. Benefits are decent as is the pay. Senior level management seems to genuinely care and want to serve as good role models.

    Cons

    Sales management in the benefits division is crusty and reptilian. Lifers in the home office are straight off the set of Madmen -outdated thinking and tolerance for sexism, ageism and homophobia in the sales offices. If you're a sales person and you have xy chromosomes, you're at the top of the food chain. And don't try to innovate - you'll be punished.The best thing that could happen to sales management is mass extinction...

    Advice to Management

    Evolve. Pangaea doesn't exist anymore. Encourage new thinking by hiring new managers onto your sales team.


  7. Helpful (1)

    "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.


  8. "A place for work and life balance. Best for women employees. Relax company."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Associate Consultant in Pune (India)
    Former Employee - Associate Consultant in Pune (India)
    Recommends

    I worked at Principal Financial Group full-time (More than 3 years)

    Pros

    Good place to work.
    Good work life balance.
    Some department has good quality work.
    Chances to learn new technology if such a demand from your project.
    Free Cab facility available.

    Cons

    More into process.
    Management will overlook your work and always keep on telling you about your negative points.
    They keep on asking to suggest some innovative ideas, developing some utility, giving some sessions etc. etc. Only these things matter & not work.
    Some projects don't have much work.

    Advice to Management

    Please be fare while assessing any resource.


  9. "Full Line of Insurace and Investments"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Representative
    Former Employee - Financial Representative
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Great Place to start career in Financial Services and Insurance.

    Cons

    Starting a New Book of Business...


  10. "A very ethical organization"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Solution Architect in Pune (India)
    Current Employee - Solution Architect in Pune (India)
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Principal Financial Group full-time (More than 8 years)

    Pros

    1. A company with strong ethics.
    2. Very good co-workers.
    3. Good compensation, as compared to other similar organizations.
    4. Excellent growth opportunities.

    Cons

    None that i can think of.

    Advice to Management

    Keep up the good work. Thanks!


  11. "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.


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