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What You'll Do

Our Technology & Engineering internship program offers opportunities for 95+ interns and has a strong reputation with over 20 years of history. You’ll work on real projects collaborating with a range of team members, including other interns through senior level management. We'll place you in a role customized to your expertise and interests, all while working in an Agile team environment. You'll be assigned a formal leader and mentor to help guide you through the program. This is an excellent opportunity to understand and learn more about Principal’s Technology Engineering culture!

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.

As a **COBOL Engineer Intern** , project involvement could include:

+ Designing and implementing solutions used by our clients and business partners.

+ Creating and driving strategy and architecture for our applications and services within a mainframe environment.

+ Gaining experience with COBOL, JCL, SQL, batch processing, and more on a highly collaborative scrum team.

+ Assignments in technical analysis and design, development, debugging, system documentation, automated testing, implementation and maintenance.

Who You Are

+ Current enrollment - or has a degree - in a preferred science, technology, engineering, or math-related field of study

+ Involvement in student organizations on respective campus, within the community or prior internship experience

+ Exceptional communication and organizational skills

+ Strong work ethic

+ A passion for technology which includes:

+ Technical curiosity

+ Ability to think critically and solution for technology-based problems

Skills That Will Help You Stand Out

+ Leadership positions within student, work or community organizations

+ Past IT internship or work experience

+ Consideration will be given to candidates that demonstrate continuous learning through certifications and other non traditional learning paths

+ Technology experience with:

+ Programming languages - COBOL, JCL, SQL, etc.

+ DevOps, Agile methodologies

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)

$28 - $30 / hour

Time Off Program

Paid company holidays and any time off required in your state.

Pension Eligible

No

Our Internship Culture

Join an established program that provides hands-on experiences for 200+ interns each year! You'll learn new skills with dedicated teams and mentors, build your professional network and collaborate across a global Fortune 500 company. We care about offering you diverse experiences and exciting challenges that push you to reach for bigger life goals, all while enjoying our flexibility and work life balance. Join us for events such as our Executive Speaker Series, gain career direction, and much more.

Internship Stipend

You will receive a lump sum stipend of $3,000. This amount is intended to support incidental expenses you may incur as part of your internship. The Company will provide a tax gross-up on this stipend as a financial benefit, but is not intended to compensate for all tax liabilities.

Work Environments

This role will be based out of our Des Moines, IA office location. Individuals in this role are required to work a minimum of 3 days per week in the office.

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 interns.

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

10/16/2025

Most Recently Posted Date

10/27/2025