Principal Financial Group Reviews | Glassdoor

Principal Financial Group Reviews

Updated August 1, 2017
330 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. Helpful (5)

    "Information Security Analyst - Senior"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Information Security Analyst - Senior in Des Moines, IA
    Current Employee - Information Security Analyst - Senior in Des Moines, IA
    Doesn't Recommend
    Negative Outlook

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

    Pros

    Flexible work environment
    Low pressure atmosphere

    Cons

    10 years behind the curve on security practices/view points
    Business puts low value on security
    Very low salaries for high demand skills
    Politics more important than skills for advanced promotions

    Advice to Management

    Move away from broad job classifications, salaries need to be commensurate with skill level AND market demand. The "benefits" you tout as differentiators are not.


  2. Helpful (1)

    "Long-time Employee"

    StarStarStarStarStar
    • 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 8 years)

    Pros

    Work/Life Balance
    Great co-workers and leaders

    Cons

    Pay tends to be below median

    Advice to Management

    Increase pay according to local job markets, not the national market. We're losing good people because they can make alot more elsewhere.

  3. "Registered Representative"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Principal Financial Group full-time

    Pros

    The people are really good

    Cons

    Not a great amount of internal support


  4. Helpful (1)

    "Accountant"

    StarStarStarStarStar
    • 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.


  5. "Changes are a coming...."

    StarStarStarStarStar
    • 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

    Pros

    Principal is a conservative yet forward thinking company. With new DOL regulations beginning 1/1/17 they are positioned to stay an industry leader.

    Cons

    It feels like salaries are going down as commissioned positions are affected by the DOL rulings.

    Advice to Management

    This ia rhe time to be a leader in human capital AND AUM. Please be sure to price jobs a little higher today, the rewards will come back 10 fold.


  6. Helpful (1)

    "Overall a great place to work"

    StarStarStarStarStar
    • 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.


  7. Helpful (1)

    "Can be a great place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    Pros

    Good work balance, insurance, some stock options and profit sharing.

    Cons

    To advance you have manage people, or in rare cases go an architecture route. There is no place for career paths for the technical.

    Advice to Management

    Listen to you employees. You will have better products, more productivity from your employees and happier employees

  8. "Individual Investor I"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    do nice things for employees

    Cons

    management not supportive for their employees


  9. Helpful (1)

    "Compliance Analyst"

    StarStarStarStarStar
    • 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.


  10. "Financial Advisor"

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

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

    Pros

    Flexible schedule that pairs well with being a mother, great benefits, excellent resources to help you be successful at building your business. Good support in the back office to get business done. Very rewarding helping people achieve their financial goals.

    Cons

    Hard work and desire to achieve goals is a necessity. The grind never stops when looking for new business in the first five years.

    Advice to Management

    Need more communication from management on meeting goals, facilitate more succession planning for senior advisors to create teams to provide more service to clients.


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