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Principal Financial Group

Engaged Employer

Principal Financial Group reviews

3.8

72% would recommend to a friend

(2,587 total reviews)
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Deanna Strable

81% approve of CEO

69% positive business outlook

Principal Financial Group has an employee rating of 3.8 out of 5 stars, based on 2,587 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Principal Financial Group employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

Reviews by job title

3K reviews
5.0
Jun 1, 2023
Recommend
CEO approval
Business Outlook

Pros

+ Fosters a collaborative work environment where teamwork is encouraged. Lots of opportunities to grow, learn, and cultivate knowledge from various disciplines. The company is a huge proponent of innovation i.e., Cloud computing and continuous learning. + The company recognizes the importance of maintaining a healthy work-life balance. PFG provides its employees with a supportive and flexible work environment. Back when I was still employed, there were no PTO limits, as long as you kept good performance and did your work.

Cons

+ PFG lacks competitive compensation as far as salaries go, especially after performance reviews. But, what the company lacks in salaries, they make up with their employee benefits. + High workload and tight deadlines. Most, if not, all of the work is dictated by business. Depending on the team, there may be a lot of meetings.

3.0
Jan 20, 2023
Recommend
CEO approval
Business Outlook

Pros

For an insurance company, I actually think Principal is very progressive/forward thinking. Overall good company culture, work-life balance seems to be a genuine priority. I also met some great people. Despite my issues with the claims department, the people/managers within the department are genuinely good people who make an effort to get to know you. They did implement a “phone buddy” system which essentially was a team to answer your emails and voicemails when you take time off so you didn’t come back swamped, which was pretty nice.

Cons

The life and disability claims department is kind of a mess. Tons of turnover. Whereas I think most of the company is very forward thinking, this department either isn’t, or it just doesn’t receive the needed support/funding from upper management, You’ll be hired in a large class of like 15-20 people (which come in every few months) because there is so much turnover. I think about half of my training class had either quit or been fired at the 6 month mark or so. Training lasts about 8 weeks, and is easy enough and pretty fun/chill actually. After training you’ll have a time where every single claim decision you make must be reviewed by your consultant, which takes about 3 days to do (if you make the right decision that is, if you’re wrong it takes longer), and inevitably leads to you getting calls/emails from angry claimants asking the status of their claim. I thought that once you got out of that “probationary” period it would be better, but in reality it just gets worse, because while you can make most claim decisions on your own which does reduce the time each claims takes, the number of claims you’re expected to make a decision on weekly goes up rapidly and sometimes without warning/reason. It’s just not realistic to focus on the 20+ new claims you’re getting each week, AND the ongoing management of already existing claims (for example when people request an extension of disability leave) all while also having to be a customer service rep for claimants and employers hounding you about the status of claims and why they have to complete XXX paperwork and whatnot.

4.0
Oct 4, 2022

Great

Recommend
CEO approval
Business Outlook

Pros

Work is engaging enough without being extremely stressful

Cons

Can feel like I'm stagnating. The tech stack is closed to the point where my desire to seek out additional work is minimal. Doesn't seem like a long-term fit.

Viewing 178 - 180 of 2,587 Reviews

Glassdoor has 3,078 Principal Financial Group reviews submitted anonymously by Principal Financial Group employees. Read employee reviews and ratings on Glassdoor to decide if Principal Financial Group is right for you.