Principal Global Investors Reviews | Glassdoor

Principal Global Investors Reviews

Updated September 16, 2017
28 reviews

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3.4
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Jim McCaughan
15 Ratings

28 Employee Reviews

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  1. "5 Star to 2 Star"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Regional Director
    Former Employee - Regional Director
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Principal Global Investors full-time (More than 10 years)

    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.

    Advice to Management

    Respect and reward the gritty and loyal professionals who built your business. With out them, nobody would have a job or see the stock back to all time highs.


  2. "Great work/life balance. Layers of bureaucracy."

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

    I have been working at Principal Global Investors (More than a year)

    Pros

    Work life balance.
    Thriving business.
    Good bonus structure.

    Cons

    Too many committees and layers of leadership.
    Very conservative culture that is afraid to have fun and enjoy work.

    Advice to Management

    Loosen up and have fun.
    Reduce the bureaucracies.

  3. "PGI"

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

    I have been working at Principal Global Investors full-time (More than 3 years)

    Pros

    Principal allows great flexibility which helps with the work/life balance. The people working at Principal are second to none. Newly renovated offices.

    Cons

    The benefit packages have been trimmed the past couple years. Principal used to be the industry leader in benefits.

    Advice to Management

    Quite adjusting to industry standard for benefits and try to get back to setting the standard.


  4. "Previous Employee"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Principal Global Investors full-time

    Pros

    PGI has a great team of people to work with.

    Cons

    Job growth is below average due to lack of turnover, so people are kept in roles much longer than what they would see elsewhere.


  5. "Not Sure"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Commercial Real Estate Intern in Des Moines, IA
    Current Employee - Commercial Real Estate Intern in Des Moines, IA
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Principal Global Investors (Less than a year)

    Pros

    Easy to get, extended internship intended as grooming for hiring.

    Cons

    Location is Des Moines, Iowa.

    Advice to Management

    Pay is low if wanting to attract top talent.


  6. Helpful (2)

    "No appreciation"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Marketing Advisor in Des Moines, IA
    Former Employee - Marketing Advisor in Des Moines, IA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Principal Global Investors (More than 3 years)

    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.

    Advice to Management

    Reward and appreciate the employees who are working the daily grind. And be more open to creativity and trying new methods and ideas.


  7. Helpful (2)

    "Fixed Income Co-op"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Fixed Income Co-op in Des Moines, IA
    Current Employee - Fixed Income Co-op in Des Moines, IA
    Recommends
    Positive Outlook
    Approves of CEO

    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

    Advice to Management

    Keep expanding this program as it is one of the better fixed income specific internships out there

  8. Helpful (8)

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

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Equity Analyst in Des Moines, IA
    Former Employee - Equity Analyst in Des Moines, IA
    Doesn't Recommend
    Disapproves of CEO

    I worked at Principal Global Investors full-time (More than 8 years)

    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.

    Advice to Management

    Try to focus on developing your investment staff so they will want to stay. Similarly, and not sure how this can be done but, make attempts to turn PGI into a talent magnet where it can become a "first choice" place to work.


  9. "Collaborative group with generally flexible environment and nice benefits"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment Analyst in Des Moines, IA
    Current Employee - Investment Analyst in Des Moines, IA
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Principal Global Investors full-time (More than 8 years)

    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.


  10. "Great values. Great ethics. Okay pay."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Commercial Real Estate Asset Management Analyst in Des Moines, IA
    Current Employee - Commercial Real Estate Asset Management Analyst in Des Moines, IA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Principal Global Investors full-time

    Pros

    Great people. A company that cares. Flexibility.

    Cons

    Pay is so so. Water fountain sometimes is broken :(

    Advice to Management

    Keep doing what you are doing.


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