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Principal Financial Group

Engaged Employer

Unhappy - Claims Analyst II Principal Financial Group Employee Review

1.0
Feb 14, 2024
Recommend
CEO approval
Business Outlook

Pros

Vested pension, ability to work remote

Cons

Unrealistic expectations, poor work/life balance, the department screams beyond successful all year but when performance reviews come, staff can’t buy a “successful” rating, and receive “solid” effecting pay increase of <3%, we can perform our jobs well and consistently meet goals, yet are treated as we don’t do enough justifying low pay raises, if at all. The excuse leadership uses give is that we have to spend a lot as a company to maintain our success and competitiveness, whilst ignoring the actual employees that make the wheels turn. Our CEO actually mocked an employee in our town hall that brought up legitimate concerns regarding low pay in an economy where rent and groceries are at an all time high. He said something along the lines of-even if we gave everyone a ten percent raise they’d still be unhappy. So out of touch and just wrong when many of the employees are trying to pull part time jobs to stay afloat. The blatant disregard for the thoroughly thought out question that was asked-when most of the comments on our company survey were regarding low pay and work loads, what cost of living has become and an honest request to senior leadership to consider these rapidly changing influences on our lives and mental health.

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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