Principal Global Investors Reviews

Updated Mar 27, 2021

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3.8
83%
Recommend to a Friend
65%
Approve of CEO
Principal Global Investors CEO Jim McCaughan (no image)
Jim McCaughan
29 Ratings
Pros
  • "Principal allows great flexibility which helps with the work/life balance(in 10 reviews)

  • "good salary(in 4 reviews)

  • Cons
  • "The pension was discontinued as well as recognition programs(in 3 reviews)

  • "want to work(in 2 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.
    1. 5.0
      Former Employee, less than 1 year

      Intern

      Oct 29, 2019 - Anonymous Employee 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good work experience with large company

      Cons

      taking off time from school

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    2. 4.0
      Current Employee, more than 1 year

      Management Pains

      Nov 8, 2018 -  
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great people Benefits are awesome Love the location

      Cons

      True corporate environment--leadership is definitely out for themselves. Not a lot of training. No job clarity.

      3 people found this review helpful
    3. 1.0
      Former Employee, more than 3 years

      Stay away from this company

      Mar 22, 2019 - Marketing in New York, NY
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Nice people working in the NY office that are on the level and you can trust.

      Cons

      My boss was a liar!

      Continue reading
      2 people found this review helpful
    4. 2.0
      Former Employee, more than 8 years

      High turnover, constantly changing strategy & organization, mostly average PMs & Analysts

      Jul 11, 2014 - Equity Analyst in Des Moines, IA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Decent place to start out of college. Because of large AUM, immediately get access to top sell-side analysts, most investment conferences and above average management access - this all leads to opportunity to develop solid contacts in investment industry for when you choose to leave PGI. Great place to work if you are from Iowa, you actually like Iowa and want to spend your whole life in Iowa. Mid Cap Blend manager is excellent. Great track record.

      Cons

      Iowa is a very dull place. Constantly reshuffling teams (separate Value & Growth teams across all mkt caps, then sorted by Large, Mid, Small across all investment styles, then turned into a quant shop where analysts are basically window dressing.) With some exceptions, ineffective at attracting money outside captive Principal pension client. Probably because of combination of middling investment performance and poor marketing skills (both from marketing staff and investment staff). Mediocre PMs and analysts (again, with some exceptions, of course). Most people who have real talent leave for better pastures. Lot of Iowa based people who, if they keep their head down, don't take many chances and don't blow themselves up, can have a long, decently compensated career.

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      9 people found this review helpful
    5. 4.0
      Former Employee, less than 1 year

      PFG is a good place to work

      Oct 16, 2009 -  
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good people, lots of room to work independently, company involved in the community and gives time to employees to volunteer. In my department hours were flexible as long as you got your work done and attended floor meetings.

      Cons

      Little formal training for the position. It was a learn on the job atmosphere with a very steep learning curve. A little more standardized training would have helped put people on the same skill level. When layoffs started there was never really a clear reason given for why certain people were let go, you just had to make your own assumptions.

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    6. 2.0
      Current Employee, more than 5 years

      If you want to go nowhere, come here

      Apr 24, 2013 - Anonymous Employee in Des Moines, IA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Flexible hours, able to work remotely and the time off is PTO rather than sick time and vacation time so you use it as you see fit

      Cons

      Poor training so you feel adrift when taking on a new position, and then when you struggle due to the fact that there's no formalized training, you take a hit for it in the way of compensation. The genuine lack of appreciation for their employees is overwhelmingly known throughout the company. You watch management tell you that there is no money in the budget for raises, and then go out and buy themselves an expensive toy or go on a lavish vacation. It's more who you know and how well you cuddle up to management that gets you places here. Skills and experience tend to not get you far.

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      7 people found this review helpful
    7. 4.0
      Former Employee, more than 10 years

      5 Star to 2 Star

      Jun 27, 2017 - Regional Director 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Very fortunate to have represented the firm for 12 years. Exciting build out of Principal Funds sales distribution company, complete with an exciting and generous compensation package. A great recognition program complete with executive deferred compensation, defined benefit pension and a top shelf health plan.

      Cons

      It all ended in 2016 when Principal Global took over from the parent (Principal Financial). The compensation was cut by 42% in 2016 (120% from 2012). The pension was discontinued as well as recognition programs.

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      4 people found this review helpful
    8. 2.0
      Former Employee, more than 3 years

      No appreciation

      Nov 8, 2015 - Marketing Advisor in Des Moines, IA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Corporate benefits, onsite gym, views from the top floor windows

      Cons

      After the 2008 financial crisis, the company took away a lot of the extra perks and laid off the more 'expensive' employees. The ones that were left were stuck absorbing all the extra work, with little to no raises each year. There is a yearly bonus, but nothing to be too excited about. Goals are a joke just like other corporations and there is 'never any money' for raises or promotions. Employees work their butt until they realize that is getting them nowhere. The culture was depressing with good reason. My department continuously did very poorly on the employee survey, and one year, we even 'got in trouble' for having such bad company reviews! If you manage to get a promotion/raise, there are 10 additional duties/goals added and you're on the chopping block for the next round of layoffs. And portfolio managers and other non-marketing leadership run the marketing department.

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      2 people found this review helpful
    9. 5.0
      Current Employee, less than 1 year

      Fixed Income Co-op

      Feb 24, 2015 - Fixed Income Co-op in Des Moines, IA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great buy side experience with numerous opportunities to learn, and individuals whom will take the time to help you along the way. The co-op program is fairly comprehensive in terms of learning the basics of fixed income analysis, and individuals whom seek to dive deeper into debt markets will enjoy the resources available at their finger tips.

      Cons

      None, had a great experience at PGI

      Continue reading
      2 people found this review helpful
    10. 4.0
      Current Employee, more than 8 years

      Collaborative group with generally flexible environment and nice benefits

      Apr 25, 2014 - Investment Analyst in Des Moines, IA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Being a leading company in the area you are exposed to more to the Wall Street contacts. People are good to work with and it is a collaborative environment. Benefits can add up with employer match of 401(k) and discounted stock purchase program. Leaders are supportive of education and company pays for a limited portion on an annual basis.

      Cons

      Promotions are limited in certain areas, and diversity is more important than performance. No defined benefit pension plan.

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