Principal Global Investors Reviews | Glassdoor

Principal Global Investors Reviews

Updated February 8, 2017
23 reviews

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3.5
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Jim McCaughan
12 Ratings

23 Employee Reviews

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  1. Helpful (2)

    "Fixed Income Co-op"

    Star Star Star Star Star
    • 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


  2. "Not Sure"

    Star Star Star Star Star
    • 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.


  3. Helpful (2)

    "No appreciation"

    Star Star Star Star Star
    • 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.


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  5. Helpful (8)

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

    Star Star Star Star Star
    • 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.


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

    Star Star Star Star Star
    • 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.


  7. "Great values. Great ethics. Okay pay."

    Star Star Star Star Star
    • 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.


  8. Helpful (4)

    "If you want to go nowhere, come here"

    Star Star Star Star Star
    • 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
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Principal Global Investors full-time (More than 5 years)

    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.

    Advice to Management

    Pay attention to your resources and the rapidly dwindling staff. At one point Principal WAS a great place to work, but we are out of the recession now. Start investing in your employees, not your skywalks and buildings.


  9. "PFG is a good place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Approves of CEO

    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.

    Advice to Management

    Develop a formalized or standardized training program for entry-level position so employees can feel more competent in their positions. Be more realistic about timelines for new systems because nobody believes the dates as stated, the projects are constantly behind.


  10. Helpful (1)

    "Great to work here when you don't want to work hard, and want to collect a paycheck every two weeks."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate in New York, NY
    Current Employee - Associate in New York, NY
    Disapproves of CEO

    Pros

    Great work-life balance, sometime a little more life than work especially with management. Very casual enviorment with less of the attitude and politics of other Wall St. firms

    Cons

    Poor compensation and bonususes are almost non-existant. Review are pointless and when it comes to bonus time senior managerment always seem to find money for themselves but expect you to understand that these are difficult times. Clear cronyism on all levels. Senior management is not the brightest by any stretch of the imagination, and junior expressing any ambition to contribute beyond their role is immediatley squashed.

    Advice to Management

    Training program, create a meritocracy not an aristocracy.


  11. "Very Good employer"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Mumbai (India)
    Former Employee - Anonymous Employee in Mumbai (India)
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Opportunties to grow, freedom to design strategies

    Cons

    Limited market share in India

    Advice to Management

    Initiate more tie ups / enhance product suite



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