Jon Farney ’93 first walked into State Farm’s corporate headquarters nearly 30 years ago, an eager 22-year-old intern wanting to make a positive impression and maybe even land a full-time job with Bloomington-Normal’s largest employer.
“I did the internship at State Farm in January and February my senior year, and then I started full time in May, so it’ll be 30 years this spring,” Farney said after some mental math. “Isn’t that wild? I don’t feel that old, but I am.”
No longer an intern, Farney has served in a variety of roles focusing on finance, planning and analysis, mutual funds, and underwriting over his three decades with the company. In January 2016, he was named senior vice president, treasurer, and chief financial officer.
It’s been a dream job for the Bloomington-Normal native who knew early on that a career in business was the goal.
“My dad did some accounting work for local contractors, local builders, so I kind of grew up around it,” Farney said. “I took some accounting classes in high school and thought that business was a skill set I could build and be able to do other things with it.”
At Illinois State University, Farney’s career goals came into sharper focus. He was mentored by influential professors like the late Dr. Caroline Kern Craig. He joined Beta Gamma Sigma, an international business honor society.
“I had some great professors, great classmates. There were really a lot of hard-working students around me,” Farney said. “The school did a great job of preparing us for the CPA exam. ISU has been rightfully proud for a long time of the CPA exam pass rate for its students.”
Farney’s time at Illinois State prepared him for the fast-paced, highly competitive business world. His experience helped him navigate different roles within the company along with the ever-changing insurance landscape.
State Farm’s long history of success—the Fortune 500 mainstay is the largest provider of property and casualty insurance in the U.S.—influences the mentality of its leaders to grow and develop.
“You’ve got to have a growth mindset of ‘how can we be better?’ and ‘how can we do this differently?’” Farney said. “We’re always trying to think of what’s next and how we can position ourselves for success down the road.”
Farney and his wife are empty nesters now, with three adult children spread across three states. He’s an avid fan of Michigan football after earning his MBA there. He likes to travel. He keeps a well-stocked wine collection.
And he remains connected to Illinois State by supporting recruiting efforts, serving on advisory boards, and speaking at events. He’s thrilled to see the State Farm name on the Hall of Business. “It’s great when two things you love have that kind of connection,” he said.
Farney also supports Illinois State students, namely through two scholarships. One he established with Dr. Tom Craig, Illinois State emeritus professor and widow of the late Illinois State professor who inspired Farney during his time on campus. The other is the Farney Family Dean’s Scholarship for First-Generation Students.
Farney recently had the opportunity to lunch with the inaugural recipient of the scholarship, Lylac Lewis.
“You just want to pay it forward,” Farney said. “And my dream is that in 30 years, she’ll do the same, lend a hand and help somebody else as well.”
