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What You'll Do

We’re looking for a High Yield Fixed Income Trader to join our Principal Global Fixed Income team. In this role, you’ll analyze and execute trades, conduct market research, and provide insights to portfolio managers and analysts.

Key Responsibilities:

+ Identify, analyze, and execute relative value trades (electronic & OTC) while ensuring compliance with Best Execution guidelines. Monitor open positions and document trades accurately.

+ Conduct research on companies and industries to assess asset value, develop trading strategies, and support investment decisions.

+ Stay informed on financial markets, global economies, and industry trends. Build and maintain relationships with traders, brokers, and market contacts to secure optimal pricing, research, and allocations.

+ Improve processes and trading systems by collaborating with IT partners to enhance workflow and analytics.

Operating at the intersection of financial services and technology, Principal builds financial tools that help our customers live better lives. We take pride in being a purpose-led firm, motivated by our mission to make financial security accessible to all. Our mission, integrity, and customer focus have made us a trusted leader for more than 140 years!

Principal Asset Management offers global asset management expertise across a diverse set of traditional and alternative asset classes. Check us out at www.principalam.com!

Who You Are

+ Bachelor’s degree in a technical field such as finance, accounting, economics, statistics, engineering, data science, or business analytics

+ Five or more years of experience in fixed income strategies across trading, research, or portfolio management

+ Credit analysis and/or credit trading experience - high yield preferred

+ Solid understanding of financial accounting, economic theory, global financial markets, and fixed income products and strategies

+ Proficiency in trading systems and platforms such as Charles River, Tradeweb, MarketAxess, and Aladdin

+ Proven ability to analyze complex trading opportunities and execute trades efficiently under market-imposed time constraints while adhering to the best execution principles

+ Strong proficiency in Excel and Bloomberg

Skills That Will Help You Stand Out

+ MBA, CFA designation, or significant progress toward either

+ Previous computer programming experience combined with familiarity with programming languages (ie, Python, MATLAB, R)

+ Collaborative and relationship-focused

+ Comfortable taking informed positions and educated risks

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 (Non-Exempt expressed as hourly; Exempt expressed as yearly)

$123000 - $167000 / year

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

This role will be based out of our World Headquarters located in Des Moines, IA.

Work Environments

This role offers the ability for in-office or four days in-office and one day remote. You’ll work with your leader to figure out which option may align best based on several factors.

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 (https://www.uscis.gov/working-in-the-united-states/temporary-nonimmigrant-workers) and Green Card for Employment-Based Immigrants (https://www.uscis.gov/green-card/green-card-eligibility/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 (https://www.principal.com/about-us/careers) 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.

Original Posting Date

2/19/2025

Most Recently Posted Date

2/19/2025