High Yield Analyst

What You'll Do

We’relooking foranAnalystto joinPrincipalGlobal Fixed IncomeHigh Yield team. In this role,you'llconduct high yield andleveragedloan research and analysis on assigned companies/industries, develop financial models,whileprovidingresearch insightswithdetailedbuy, sell and hold recommendations to support portfolio managers in making informed investment decisions!

• Independently perform fundamental credit analysis,assessing economic, competitive, sector, and political drivers of credit risk;maintaincredit ratings, outlooks, and relative value assessments, and proactively communicate material developments to senior analysts and portfolio managers.

• Provide ongoing credit monitoring and reporting,includingreviewingongoingperformanceofcompanies under coverage including written and verbal updates.trackingcovenant trends, escalating concerns related to deteriorating creditquality, andresponding to basic inquiries from internal partners and clients.

• Build market and sectorexpertiseby analyzing macroeconomic trends, industry dynamics, and competitive developments,identifyingemerging risks and opportunities, contributing insights to portfolio managers and senior leadership, andmaintainingrelationships with external industry contacts.

Principal Asset Management is the global investment solutions business for Principal Financial Group® (Nasdaq: PFG), managing about$580 billionin assets and over 60 years of experience. Principal Asset Management has been recognized as a “Best Places to Work in Money Management” for 14 consecutive years! Check us out at www.principalam.com!

Who You Are

• Bachelor's degree in a technical field (iefinance, accounting, economics, statistics, engineering, data science, business analytics)

• At least one (two preferred) years'investmentexperience withan emphasison research

• Solid understanding of financial accounting and economic theory, global financialmarketsand fixed income products

• Proficiencywith Excel

Skills That Will Help You Stand Out

• High yield andleveragedloan experience ispreferred. Relevant experience in other fixed income asset classesisalso helpful
• Experience with Bloomberg

• Progress towards CFA

• Applied use of AI tools in credit research and analysis

• Familiarity with database structures, big data techniques, and programming languages

• Strong analytical judgment related to credit risk and valuation

• Financial modeling experience related to corporate credit analysis

Salary Range Information

Salary ranges below reflect targeted base salaries. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer.

Salary Range

$110200 - $148200 / year

Salary Details

The base salary range for this role is $110,200 – $148,200 as indicated above. Final compensation will be determined based on skills, experience, and alignment with the role’s responsibilities.

In addition to base pay, this role participates in an annual profit share bonus plan. Note your base expectations when answering the application questions.

Time Off Program

Flexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short-term illness. Employees don’t accrue a bank of time off under FTO and there is no set number of days provided.

Pension Eligible

No

Additional Information

Location(s)

This role will be based out of our World Headquarters located in Des Moines, IA. You can check out our home office here:

Work Environments

This role offers the ability for in-office or four days in-office and one day remote.

Work Authorization/Sponsorship

At this time, we're not considering applicants that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States. This includes, but IS NOT LIMITED TO: F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc. For additional information around work authorization needs please use the following links.

Nonimmigrant Workers and Green Card for Employment-Based Immigrants

Investment Code of Ethics

For Principal Asset Management positions, you’ll need to follow an Investment Code of Ethics related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.

Experience Principal

At Principal, we value connecting on both a personal and professional level. Together, we’re imagining a more purpose-led future for financial services – and that starts with you. Our success depends on the unique experiences, backgrounds, and talents of our employees. And we support our employees the same way we support our customers: with comprehensive, competitive benefit offerings crafted to protect their physical, financial, and social well-being. Check out our careers site to learn more about our purpose, values and benefits.

Principal is an Equal Opportunity Employer

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.

Posting Window

We will accept applications for 3 full days following the Original Posting Date, after which the posting may remain open or be removed based upon applications received. If we choose to post the job again, we will accept additional applications for at least 1 full day following the Most Recently Posted Date. Please submit applications in a timely manner as there is no guarantee the posting will be available beyond the applicable deadline.

Date First Posted (TTF)

4/20/2026

Latest Post Date: Careers - US

4/21/2026