The ag-industry is slow growing, has tiny margins, and doesn’t really change, hence ADM lacks a dynamic atmosphere, and more resembles an inefficient government bureaucracy. When you also consider that most CFO-group jobs are in Decatur, Il (a polluted, rundown industrial town), this leads to several negative factors:
-Minimal career development. They don’t develop their own employees, so most senior-level employees are recruited from competitors who DO develop employees.
-Low pay. Only top managers are eligible for any form of bonus. Salary is known to be far below industry standard.
-Ancient IT systems, think 1980’s DOS system. Seriously. ADM isn’t Apple.
-Brain-drain/less qualified employees. No qualified person really wants to live in Decatur. The 'leftovers' are more focused their multiple out of wedlock children and the Kardashians.
-Nepotism. It’s amazing how many people have a relative that were ‘helped.’ Many many people have the same last names, and not by coincidence.
Simply put, the CFO group is not for intelligent, hardworking and career-minded individuals. To further attest to ADM’s status, there have been several recent high profile departures, including the head of IT, while in the middle of a huge IT transformation project. The C-suite routinely brags about its high-margin acquisition strategy, but no tiny bolt-on purchase will really ad that much value when compared to ADM’s behemoth corn/oilseeds/grain divisions.
The CFO group at ADM is a place to go for a job, for a paycheck. If you are ambitious, or want at least moderate career development, AVOID any finance/accounting job at ADM. If you are interested in a merchandising role, then ADM is definitely the right place.
