Principal Financial Group

  www.principal.com
  www.principal.com
Work in HR? Unlock Free Profile

Principal Financial Group Reviews

Updated 19 September, 2014
Updated 19 September, 2014
190 Reviews
3.8
190 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Principal Financial Group Chairman, President and Chief Executive Officer Larry D. Zimpleman
Larry D. Zimpleman
121 Ratings

Review Highlights

Pros
  • work life balance, collaborative work culture, approachable leadership, good salaries (in 38 reviews)

  • Great benefits, which is nice because salaries are less than annual averages (in 15 reviews)


Cons
  • Parking is a little ways away since we're located in downtown Des Moines (in 11 reviews)

  • could make work environment more appealing such as offering ergonomic options to offices and desks (although this is currently in progress) (in 6 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Great place to work. They care about their employees.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Marketing
    Former Employee - Marketing

    I worked at Principal Financial Group full-time for more than 10 years

    Pros

    They care about their employees, they are flexible, they help you balance work and life.

    Cons

    Hard to get back in, they sometimes are too structured.

    Advice to ManagementAdvice

    Focus on bringing back the Health employees who apply! It's hard to get back in.

    Recommends
    Neutral Outlook
    Approves of CEO
  2.  

    "Great people and work"

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Technical Analyst  in  Des Moines, IA (US)
    Former Employee - Technical Analyst in Des Moines, IA (US)

    I worked at Principal Financial Group as an intern for less than a year

    Pros

    Great co-workers. everyone was really friendly and good at their jobs. I was given a lot of responsibility and feedback on my work.

    Cons

    It took them 6 weeks to get my security clearance set up. That's fine for full time employees, but not for an intern who is only there for 12.

    Advice to ManagementAdvice

    Work on the on boarding process

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Great place to earn your wings, not so good once you have them.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - IT Applications Analyst Senior  in  Des Moines, IA (US)
    Current Employee - IT Applications Analyst Senior in Des Moines, IA (US)

    I have been working at Principal Financial Group full-time for more than 10 years

    Pros

    Work Life balance is good in most areas. Retirement benefits are great, you get 401K and a pension. Onsite fitness center. Other benefits are OK. The people you work with are generally top notch, teams have a family feel. Some employees can work from home or remote.

    Cons

    If you work in a SCBU you'll have to deal with political infighting among the various business units. Once you reach a "senior" level in your position opportunities for advancement are slim to non existent if you don't have direct reports. Its not uncommon for senior staff level employees to retire having spent the previous 20 years with the same job title. At times work-life balance can tilt heavily towards work. Salary is on the high side of mediocre, other companies will pay more but Principal tries to make up for it with a flexible work environment. Another drawback is that during the remodeling some employees will get crammed into building with very little amenities.

    Advice to ManagementAdvice

    Treat all employees like you treat interns and you will get world class results on the annual EOS.

    Recommends
    Positive Outlook
    Approves of CEO
  4. We want your feedback – Are these company reviews helpful to you?  Yes | No
  5.  

    Associate Manager - Product Development and Research

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Associate Manager - Product Development and Research  in  Mumbai (India)
    Current Employee - Associate Manager - Product Development and Research in Mumbai (India)

    I have been working at Principal Financial Group full-time for more than a year

    Pros

    Good work culture and organisation environment.

    Cons

    I enjoyed working with this company. Couldn't find anything to mention here as such.

    Advice to ManagementAdvice

    Empowering people is really magical. I could take pride of what I used to do.

    Recommends
    Positive Outlook
    Approves of CEO
  6. 3 people found this helpful  

    Work life balance and fun

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Associate Consultant
    Former Employee - Associate Consultant

    I worked at Principal Financial Group

    Pros

    1) Nice package atleast 3 years back they were offering irresistable package for 2-5 yrs exp people.Heard that has been changed now.
    2) Great work life balance as very less work pressure
    3) Lots of fun activities, interest groups.Strongly suggest to participate as its the only thing brings you to focus
    4)First in last out to compute your daily hours policy.Trust me you are gonna love this in company like this specially when its near to amanora, seasons
    5)This should top the list-Free cab facility within 50 km range
    6) Relaxed exit process

    Cons

    1)can you spend 8 hours without doing anything meaningful day by day?No right?

    2)I was lucky to be under a cool manger but most of them are not

    3)If you wanna learn google is open there so search and learn .Work is not going to teach you anything meaningful

    4)Award is a joke there.Its there to demotivate the smart people and to encourages the eye candy of the managers

    5)No onsite but you would be made aware of that at the time of joining

    6) Hike is very very less and the vp is almost 15% of your package so to get that you have to KA(decode that)

    7)There is merginal difference in developers and testers salary

    8) You will have a very bad time if you are not good in singing dancing because 10% your VP is there to perform in annual function

    So you want to join this company ask yourself

    -Are you married and less ambitious ?
    -Is IT job is your side income and you have a primary business?
    -You just have 2-3 yrs of exp and looking for a cool 1-2 yrs doing nothing but fun.

    I am not being sarcastic here ,all of us have different priorities.

    Advice to ManagementAdvice

    Please try to bring the quality work as now you have sufficient faith from the onshore

    Recommends
    Neutral Outlook
    No opinion of CEO
  7. 1 person found this helpful  

    Excellent at first but with a change of CEO and the recession the entire company culture changed.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Relationship Manager  in  Des Moines, IA (US)
    Former Employee - Senior Relationship Manager in Des Moines, IA (US)

    I worked at Principal Financial Group full-time for more than 10 years

    Pros

    Good salary and excellent benefits. Ample opportunities for development.

    Cons

    Ineffective leadership at the team and department levels. A company culture that was more talk that action. Many things the company supported were not liked or supported by team and department leadership so those areas just missed out. When Barry Griswell was CEO there was a real "people" culture. When I left it was all about metrics, numbers and reporting. The people were undervalued, not recognized, and overworked.

    Advice to ManagementAdvice

    Make sure leaders/managers at all levels know how to support what HR promotes as the company culture. Fix the review system which is completely broken.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8.  

    Great first and last Internship

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Intern - Hourly  in  Des Moines, IA (US)
    Current Employee - Intern - Hourly in Des Moines, IA (US)

    I have been working at Principal Financial Group as an intern for less than a year

    Pros

    Real Project Experience
    Encouraged to Learn
    Leaders including Dan Houston willing to meet with Interns

    Cons

    Lots of first time internships.

    Advice to ManagementAdvice

    Continue to invest in Interns as a source of new technology.

    Recommends
    Positive Outlook
    Approves of CEO
  9.  

    Working for Principal was a fantastic experience with great team members.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - TeleApp Counselor  in  Des Moines, IA (US)
    Former Employee - TeleApp Counselor in Des Moines, IA (US)

    I worked at Principal Financial Group full-time for more than 3 years

    Pros

    The pay and benefits are very good, with an excellent work-life balance to boot. Vacation time was excellent, 401K match was standard and the health benefits were great. It is a large company with a lot of room for improvement. Employees are also eligible for bonuses in most areas. Awesome food selections and location.

    Cons

    Promotions are a little lacking, even if just a title promotion such as Sr. etc. There is little to no recognition depending on your area, and the food is so good you gain too much weight!!!

    Advice to ManagementAdvice

    Continue to recognize those who improve processes, work hard and drive results.

    Recommends
    Positive Outlook
    Approves of CEO
  10. 1 person found this helpful  

    Weak Pune Management, good for short term stay

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Consultant  in  Pune (India)
    Former Employee - Consultant in Pune (India)

    I worked at Principal Financial Group full-time for more than 5 years

    Pros

    Principal Global Services, the IT & ITES extension of Principal Financial Group provides excellent facilities like cab service (yes AC cabs!) and Industry average pay. Your salary will usually be around the average salary for typical captives like RBS, Wellsfargo etc. Thanks to the US office, the work load is usually never heavy, and typical of a reversal role in IT outsourcing, the US office usually works extra, while the India office has less work. There are Pune employees who have not worked for several years.
    Work and direct interaction with US office is the highlight of being in PGS and hence there is no onsite to play work related stunts.
    If you work hard, you can learn a lot and use it after you leave PGS and join other companies.

    Cons

    Due to captive nature of organization, there is no outward thinking and management is more on operations side - ie simple supervisory job. the senior managers in PGS don't act or work because there is not incentive for them to perform.
    Promotion is in the form of IJP and is highly controversial. There are instances of employees being promoted because they played "Tambola" (Bingo) and hence contributed to organizational activities and therefore promoted! Promotion has come in the form of shooting an email to the CIO on asking how backups are taken!!
    Decisions are based on hearsay and loose talk - anyone can "conspire" against anyone by going to the senior management and saying that "he/she said like this...." and the management takes decisions on such loose talk. In fact, the concept of "spies" aka "khabaris" is common in PGS. Every manager has a gossip monger and more the filthy talk, better is the reward granted in promotions or townhall awards.
    Unethical practices like personal relations being favoured in job selection and promotions.
    Learning in technology and business is strictly restricted. Even exams for certifications can't be refunded, and domain knowledge and skill building is a strict no no. There are weird reasons for not supporting knowledge like "We don't want to build knowledge, we build relations".
    Some managers curse and use abusive language to employees and despite complaining to higher ups, things have been hushed up making a mockery of the so called employee values and ethical policies.
    Birthday celebrations for the so called top management are executed in style, the most of the lazy bunch practice for a day and when the d-day arrives, what you see is songs, Mexican waves, balloons and sycophants that can put the the middle age dark world to shame.
    You may be wondering what is US office doing despite knowing the razzmatazz in Pune? Perhaps, US office is the main culprit in the kind of total waste of Princial's public shareholder wealth. The cost to PGS is a hedge to the ineffective team of PGS so that US jobs are safe.

    Advice to ManagementAdvice

    None, they are in a world of their own!

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  11.  

    Very tech driven

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Intern - Hourly  in  Des Moines, IA (US)
    Current Employee - Intern - Hourly in Des Moines, IA (US)

    I have been working at Principal Financial Group as an intern for less than a year

    Pros

    As an IT Intern I got to work on real projects in many different fields. They also held an intern Code Jam (similar to a hackathon) where teams of interns competed to create the best web app. Overall great learning experience

    Cons

    For interns, it is difficult to get time to view other business units/positions. This would be helpful for young professionals who is not sure what they would like to do for a full time position.

    Advice to ManagementAdvice

    Keep up the good work but keep in mind after College it can be difficult to know exactly what career path an individual would like.

    Recommends
    Positive Outlook
    Approves of CEO

Worked for Principal Financial Group? Contribute to the Community!

Your response will be removed from the review – this cannot be undone.