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Principal Financial Group

Engaged Employer

They believe their own hype - Software Engineer Principal Financial Group Employee Review

2.0
Sep 12, 2023
Recommend
CEO approval
Business Outlook

Pros

Not too many, since they’re currently forcing employees back into the office. Flexibility was their biggest benefit.

Cons

I witnessed a pattern of behavior over the years where older employees were strategically targeted in order to force them out. In IT, many older female employees were pushed out - throw in a bit of sexism to boot. It’s a common strategy - they’re following a management playbook that has IBM embroiled in at least one lawsuit over age discrimination. It’s a bad look for a retirement services company. They also use their “soft benefits” as justification for underpaying employees. Be aware that they no longer have much to differentiate them from the rest of the corporate pack. There are no substantial raises for the majority of employees. Team reorg and manager churn is an issue. It’s difficult to form a cohesive, functional team when upper management keeps moving the pieces around, trying to find the magic combination where they can get all the work done without hiring more people. Team management should be a valued skill, as opposed to a career stepping stone. I averaged one new leader per year. Don’t tell me that works for anyone.

Explore other reviews about Principal Financial Group

5.0
Jun 24, 2026
Recommend
CEO approval
Business Outlook

Pros

good FTO policy good opportunity for career development flexible work arrangements

Cons

health insurance sucks - United annual reviews- everything's made up and the points don't matter more and more pressure to be in-office despite team members being remote

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Principal Financial Group Response
3d
Thank you for taking the time to provide this feedback. Your input is valuable as we work to improve as an employer.
2.0
Jun 4, 2026
Recommend
CEO approval
Business Outlook

Pros

Decent work life balance and benefits. Principal offers a pension which is unheard of in today’s age.

Cons

Pay is below average and Principal does not offer inflation raises. Once you hit the midpoint of your salary, you will get a 0% raise until you’re promoted, which will take multiple years regardless of performance. Performance reviews are vague and often used against employees to avoid promotions. At least in my department, I’ve yet to see any of the remote workers be promoted. This is starting to affect attrition and we’re already starting to see people leaving. It’s well known at this point that the best way to get promoted is to leave Principal and get rehired, which even leadership has stated publicly. This is a huge frustration and blow to morale, as it starts to feel like employees need to compete against their co-workers for raises.

1
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Principal Financial Group Response
2w
We appreciate you sharing your feedback. As a leader in retirement solutions and employee benefits, we strive to provide our employees with a competitive benefits package. Our global pay philosophy is guided by market-driven principles. and we leverage third-party market data to ensure our base salary and incentives remain appropriately competitive.
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