Principal Financial Group Reviews | Glassdoor

Principal Financial Group Reviews

Updated April 21, 2017
500 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. "PFG"

    Star Star Star Star Star
    Former Employee - Anonymous Employee in Des Moines, IA
    Former Employee - Anonymous Employee in Des Moines, IA

    I worked at Principal Financial Group full-time (More than 8 years)

    Pros

    Stable company, fairly progressive especially given the industry and encourage employees to submit ideas for improvement. Work life balance is supported.

    Cons

    I worked at a satellite office and the dress code was casual. It would be nice to have that at Corporate. Where I'm at now is creative environment and there are a lot of young people so again the dress code is relaxed. I consider it a perk because it's comfortable.


  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)

    "Head in the sand"

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

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

    Pros

    Principal does have a good benefits package (although that might not be as strong of an offering in the future).

    A large, fortune 500 company, Principal is a good place to network and bulls some experience for a resume

    Cons

    Principal has a serous lack of diversity, not just in terms of demographics, but in terms of thinking and style. Different perspectives are not supported here and will be squelched by those who will use "company culture" to their defense and detriment ( why you will often here "that's the way we've always done it").

    Principal employees know that the company heavily favors external talent compared to internal talent which is why you see employees leave for a competitor for a year or two just to come back (obtain larger salary jumps compared to had they stayed at principal). Principal often does not consider how macro policies reinforce their workforce.

    Advice to Management

    Time to modernize management styles, culture, and policies to address the challenges of today's world. Study your people and work to enable true success.


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  5. "Good Place"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Representative, Princor Registered Representative in Tarpon Springs, FL
    Former Employee - Financial Representative, Princor Registered Representative in Tarpon Springs, FL
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Great place depending on your managing director

    Cons

    None that I can think of


  6. Helpful (2)

    "Worst job experience I've ever had."

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

    I worked at Principal Financial Group full-time

    Pros

    Good benefits, somewhat decent pay, and the training is pretty good, but there is definitely room for improvement. Benefits start on day one.

    Cons

    No opportunity for growth, major micromanagement, help is only available during scheduled "question time", lots of favoratism, and a very heavy and stressful workload. Some managers don't even know how to do the job of the people they manage. They just look at reports and listen to your phone calls and spy on your computer.

    Advice to Management

    Managers should be at least somewhat knowledgeable about the tasks/duties their employees are required to perform. It's unacceptable when a manager smirks and giggles and says "I don't know" when asked a question specific to the job. How can a person manage a team of employees if he/she cannot perform the job duties themselves?


  7. 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.


  8. "Individual Investor Specialist"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Des Moines, IA
    Former Employee - Anonymous Employee in Des Moines, IA

    Pros

    Excellent Pay, Good Support of Immediate Supervisors and Managers, Excellent Training

    Cons

    A Company of this size should provide better and more comprehensive Health Insurance


  9. "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.


  10. Helpful (1)

    "Good benefits"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Raleigh, NC
    Former Employee - Anonymous Employee in Raleigh, NC
    Recommends
    Positive Outlook

    I worked at Principal Financial Group full-time

    Pros

    Good benefits, adequate time off, company has good ethical reputation

    Cons

    Like any place else, promotion is based on who you know

    Advice to Management

    Look more to merit and hard work amd less to networking


  11. Helpful (1)

    "Call Center"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Individual Investor Specialist I in Des Moines, IA
    Former Employee - Individual Investor Specialist I in Des Moines, IA
    Doesn't Recommend
    Disapproves of CEO

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

    Pros

    Pay and benefits were pretty good.

    Cons

    I was tricked into a call center position. They said it would be light phone duties but I was taking 60 calls a day. No options to move up or out of the center. I understand they are good for the Des Moines Area but I would never recommend working there.

    Mid-level managers have no say in anything and aren't allow to manage.


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