Principal Financial Group

  www.principal.com
  www.principal.com

Principal Financial Group Reviews

Updated 28 October 2014
Updated 28 October 2014
199 Reviews
3.9
199 Reviews
Rating Trends

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Approve of CEO
Principal Financial Group Chairman, President and Chief Executive Officer Larry D. Zimpleman
Larry D. Zimpleman
129 Ratings

Review Highlights

Pros
  • The pay and benefits are very good, with an excellent work-life balance to boot (in 42 reviews)

  • Great benefits, which is nice because salaries are less than annual averages (in 19 reviews)


Cons
  • Parking is a little ways away since we're located in downtown Des Moines (in 12 reviews)

  • 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 (in 7 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Human resource

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Human Resource in Pune
    Former Employee - Human Resource in Pune

    I worked at Principal Financial Group full-time (more than an year)

    Pros

    awesome place to work at

    Cons

    none. its is a great place to work

    Advice to ManagementAdvice

    keep doing the best as always

    Recommends
    Approves of CEO
  2.  

    Great Company to work for

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Applications Expert in Pune
    Former Employee - Applications Expert in Pune

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

    Pros

    Employee Oriented, Free Cab, Subsidized Meal, Nice Work, Good Environment, Nice Culture

    Cons

    Nothing as such, less onsite

    Advice to ManagementAdvice

    The y are good

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    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
    Current Employee - Associate Manager - Product Development and Research in Mumbai

    I have been working at Principal Financial Group full-time (more than an 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
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  5. 3 people 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
    Former Employee - Consultant in Pune

    I worked at Principal Financial Group full-time (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
  6.  

    Great organisation and Amazing People

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Assistant Vice President in Pune
    Former Employee - Assistant Vice President in Pune

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

    Pros

    Seasoned organisation & employee centric. Gives opportunities to employees to experiment and be creative with enough liberity.

    Cons

    Traditional Thinking especially on Technology advancement, Adoption of newer business ideas yet focused on doing whats best known to the company over the last 100+ years

    Recommends
    Neutral Outlook
    Approves of CEO
  7.  

    good co. to learn business with technology

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Associate Manager in Pune
    Current Employee - Associate Manager in Pune

    I have been working at Principal Financial Group full-time (more than an year)

    Pros

    work life balance, collaborative work culture, approachable leadership, good salaries

    Cons

    slow growth prospects, perception based management style,

    Advice to ManagementAdvice

    walk the talk!!

    Recommends
    Positive Outlook
    Approves of CEO
  8. 1 person found this helpful  

    Fixing in Interviews

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

    I have been working at Principal Financial Group

    Pros

    Nothing as such. Only good pay on initial recruitment. Good life balance.

    Cons

    Candidates referred by employees are getting selected even though they are not possessing required skills and good candidates are thrown out just to make room for references. Spouses and friends are being brought who are actually not worth than just trash. Specifically BA team.

    Advice to ManagementAdvice

    Look into the selection process and HR TEAM. Make the right selection otherwise it would be just garbage company.

    Neutral Outlook
    No opinion of CEO
  9.  

    Good work life balance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Systems Test Lead in Pune
    Former Employee - Systems Test Lead in Pune

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

    Pros

    I worked with Principal global services, Pune for 5 years. It's well known as sister company of Principal financial group(USA).
    HR Policy are employee friendly
    Less complex work.
    Good work life balance
    Good pay. Very domain centric, if you have good domain knowledge they u are paid well.
    It is a good place for working women

    Cons

    Employees interests are not considered while allocating projects. Hence employes gets bored with repetitive work.
    No onsite opportunities.
    Growth opportunities are less.
    Management isn't transparent and

    Advice to ManagementAdvice

    Management should take actions to build knowledge across team rather than letting it accumulate with one person to avoid dependencies.

    Recommends
    Positive Outlook
  10.  

    best company I had found to work with!!!!

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

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

    Pros

    its the best company for work culture and quality of work

    Cons

    more job opportunities will enhance company.

    Recommends
    Positive Outlook
    Approves of CEO
  11. 3 people found this helpful  

    PFG is good, PGS fails

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

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

    Pros

    The review is about PGS, the Pune IT arm of PFG. Good work life balance in Pune. Good policies like cab transport, can take leave whenever you want. Many have misused the flexibility so that they did'nt need to work for years.
    Direct interaction with US team helps in gaining confidence to take complex work.
    This company is a very good place for those who want a very relax lifestyle , and don't care about career growth.

    Cons

    Poor management. The IJP system is flawed and is aimed to promote sycophants.
    Growth in terms of knowledge/system is discouraged.
    Participation in outside work (music, songs, dance, birthday songs) is considered more important than key projects.
    There are too many managers who dont understand why they exist and they pretend to know more than the HO folks. The so called L3,L2 (managers) get some one or two words from HO and then try to act as though they know it all.
    A level called AVP was created to "move up the value chain", so more festivities were executed!

    This company is good only for those who join managers and above. For any other level, team lead or developer, this company is only good, if you wish to take a break for 2 years from typically Indian IT service companies.

    Advice to ManagementAdvice

    Management does not understand what advice is and are grossly incompetent to understand and implement any action.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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