Years of Experience
Those who have five to nine years of work experience see average salaries of $60K per year. When we consider tenure, a substantial portion of employees (31 percent) have been working for one to four years and make $52K annually on average.
Software Applications Analysts represent the higher end of the earnings spectrum — in fact, median pay for this job is the highest at approximately $67K per year — though Financial Analysts, Compliance Analysts, and Operations Analysts also do fairly well at $66K, about $61K, and around $50K, respectively. Near the bottom at Principal Financial Group are Sales Support Specialists, pulling in an average of just $45K.
When it comes to location, the highest average paycheck ($73K annually) can be spotted in Houston, Texas; Irvine, Calif. ($65K), Des Moines, Iowa (around $61K), and Appleton, Wisc. (approximately $54K) are the next top-paying cities. Wilmington, Del. ranks low on the pay scale — at about $51K, it is one of the lowest-paid cities. By state, Principal Financial Group employees make the most in Texas, earning $78K per year on average.
Certifications and Degrees
Those lacking certification bring in much lower salaries than Licensed Lawyers, who make $83K annually. Microsoft Certified Professionals also rank high on the pay scale, with expected average earnings of approximately $72K per year. The highest-paying degree here is a Bachelor of Science in Computer Science (CS); Principal Financial Group awards about $81K to these degree-holders.
The highest-paying skill to have may be Financial Reporting; employees who claim proficiency also report a higher average salary of $81K annually. One of the more prevalent skills at Principal Financial Group is Microsoft Excel, with nearly one in seven considering it a key competency. Customer Service, Financial Analysis, and Java are also desirable skills.
Benefits and Perks
Employees can save for retirement by joining one of several savings plans such as a 401(k) plan and a company pension plan. Most workers can count on health insurance, and most respondents have dental coverage as a benefit. Other privileges include a stock purchase plan, gym membership, flexible hours, and life insurance.