Pros
Principal does have a good benefits package (although that might not be as strong of an offering in the future). A large, fortune 500 company, Principal is a good place to network and bulls some experience for a resume
Cons
Principal has a serous lack of diversity, not just in terms of demographics, but in terms of thinking and style. Different perspectives are not supported here and will be squelched by those who will use "company culture" to their defense and detriment ( why you will often here "that's the way we've always done it"). Principal employees know that the company heavily favors external talent compared to internal talent which is why you see employees leave for a competitor for a year or two just to come back (obtain larger salary jumps compared to had they stayed at principal). Principal often does not consider how macro policies reinforce their workforce.