CIT
2.9 of 5 103 reviews
www.cit.com New York, NY 1000 to 5000 Employees

CIT Reviews

Updated Apr 2, 2014

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2.9 103 reviews

                             

81% Approve of the CEO

CIT Chairman and CEO John A. Thain

John A. Thain

(42 ratings)

42% of employees recommend this company to a friend
55 Employee Reviews Back to all reviews
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Great experience, but limited mobility

Vice President (Current Employee)
Charlotte, NC

I have been working at CIT full-time for more than 8 years

ProsGreat work life balance. Great learning experience provides strong foundation.

ConsLimited mobility, both upward and lateral.

Advice to Senior ManagementSupport cross functional development of employees and open avenues for advancement.

Yes, I would recommend this company to a friend

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Like working for government in private sector

Assistant Vice President (Current Employee)
New York, NY

I have been working at CIT full-time for more than 3 years

ProsGood hours
Decent benefits
Good location
Good on resume

ConsCompany going nowhere
Pay is like government pay

Yes, I would recommend this company to a friend

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Fresh Blood Driving Top-Down IT Transformation

Anonymous Employee (Current Employee)

I have been working at CIT

ProsWhat a difference a year or two makes! I have been with CIT for over 10 years and perpetually frustrated at some poor business and technology decisions that drove us into bankruptcy and created a stagnant culture... until now.

Fast forward to 2012 with a new CEO and CIO who both systematically replaced almost their entire management teams and drove a top down change in culture. IT's relationship with the business has been especially impacted with IT going from being glorified order takers to valued partners at the table helping drive business decisions.

Stacey Goodman is known for her eye for talent and that clearly shows. She has given fresh opportunities to leaders that have been here a while, sent a clear message to those who have underperformed or not lived up to the new values, and focused a lot of energy on infusing fresh blood into many leadership roles.

CIT has become a fun and exciting place to work again - especially IT. The company is investing in technology, putting video cameras and giant TVs in conference rooms, focusing investment in projects that will drive company wide transformation and help clean up the legacy mess that has accumulated over years of decreasing investment.

The technology leadership team is a great bunch who are all masters of their domain. Frank Nazzaro has evolved the infrastructure team from bare metal provisioners to a great group of techies who are trying to modernize our foundation and leverage technologies like cloud computing. Stacey has done a good job of leveraging the best leaders she inherited and supplementing with fresh blood.

Sure there are folks from the old guard who complain no matter who's holding the wheel or where we are going. Our leadership has made a point of engaging with these naysayers and challenging them to cheer up and help move us forward or step aside and make room. I respect that greatly. Set the target, clarify everyone's role and purpose, then let's rally together and get some stuff done.

I am excited about working at CIT for the first time in a friggin decade. We are debt free, profitable, led by true visionaries, undergoing massive transformation and investing in technology to drive business growth. Couldn't be a better time for you to come on board.

ConsHQ is in Livingston, NJ
Building came via time portal straight from the 70's
Lots of legacy process (though they are attacking this methodically)
Information security (but they stink wherever you go)
Parking lot has flooded a few times since I've been here
Compliance group just gets bigger every year, what's up with that?
Lots of legacy systems, one mainframe that may never go away (but it works and everyone has warts)
The lady who makes my sandwiches in the cafeteria is sometimes grumpy

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Company continues to be in transition

Anonymous Employee (Current Employee)

I have been working at CIT full-time for more than a year

ProsGood NY location, though NJ commute can be bad. High profile CEO and management team command outsized attention for a firm of this size. Much has improved since the 2009 bankruptcy.

ConsHR is terrible. No consistency in title, salary, promotion process. Management is extremely top heavy. Not really sure what everyone's jobs are or why there are so many C-level execs. Many execs seem to have agendas other than making CIT a great company. Communication internally is very bad. Many confused people about vision and direction of firm. Management seems aloof, at best. But more like they want to be somewhere else.

Advice to Senior ManagementSpend more time in the office with the people on the line. Communicate a clear vision for employees so they know what you are trying to achieve.

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Good people, but management

Anonymous Employee (Current Employee)
New York, NY

I have been working at CIT full-time for more than 3 years

ProsThe people are fantastic! Really great, intelligent people.

ConsThe company is struggling with who they want to be and what the areas of focus are. Plus there is still a lot of apathy from bankruptcy. Senior management is not in touch with all of the businesses.

Advice to Senior ManagementPut the businesses first.

Yes, I would recommend this company to a friend

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Financial Industry Makes a Difference!

Vice President (Current Employee)
Livingston, NJ

I have been working at CIT full-time for more than 3 years

ProsTalented group of individuals who jointly collaborate to meet company goals.
Challenging, fast paced and a terrific place to grow, exceed and be recognized.
Excellent compensation package.

ConsRegulation requirements sometimes hinder overall success.
Leadership IT team is slightly top-heavy.
Advancement can be challenging.

Advice to Senior ManagementConsider conducting an internal assessment of human resources before going out into the marketplace to seek skills that might already exist in-house.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Dedicated Staff, marginal management

Anonymous Employee (Current Employee)

I have been working at CIT full-time for more than 10 years

ProsCoworkers band together despite frequent management replacements

ConsManagement still cannot get it right

Advice to Senior ManagementFind work in a different industry sector or planet.

– I'm not optimistic about the outlook for this company

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Pressure-packed work environment

Vice President of Information Technology (Current Employee)
Livingston, NJ

I have been working at CIT full-time for more than 5 years

ProsGood work/life balance. Well-run cafeteria. Most people are nice and easy to work with. Good opportunity for on-the-job learning. Some directors go the extra-mile to make CIT a satisfying place to work.

ConsNot enough directors go the extra-mile to make CIT a satisfying place to work. No opportunity to learn new things, unless self-motivated and can squeeze it in. Those with talent are stretched too thin. Those that are less-motivated get away with doing the bare minimum. Some subordinates feel managers aren't in-touch, therefore those managers are not respected. Promises made by management are too often not kept. Managers that are sharp are not appreciated. Low employee morale. Lots of job-seeking going on. Plenty of complaints, bad language, bad attitudes, and behind-the-back-bad-mouthing. Goal setting policy is implemented like it was a forced government mandate rather than as a tool to develop talent. Politically correct surveys are a joke.

Advice to Senior ManagementRecognize the talent you have and reward it. Create a policy of regularly clearing out dead-wood. Implement a 360 degree feedback program.

No, I would not recommend this company to a friend

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this company is broken.

IT Consultant (Current Employee)
Livingston, NJ

I have been working at CIT as a contractor for more than 8 years

Pros-good cafeteria - good food and good people work there.
-foosball table.

Cons-no moral compass.
-the good people have left already or are leaving.

-this was once a good company but senior management team broke it and continue to drive this ship in the dirt with reckless abandon.

Advice to Senior Management“...people will forget what you said, people will forget what you did, but people will never forget how you made them feel.”

― Maya Angelou

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Experience depends on the department

IT Developer (Current Employee)
Livingston, NJ

I have been working at CIT full-time for more than 8 years

ProsGreat Leadership if you are in the finance departments. John Thain really is a visionary and brilliant manager. Good salaries and flexible work/life balance in general.

ConsTerrible IT leadership. The CIO brought in 10 managers from UBS to secretly offshore/outsource the IT staff. They are killing morale and destroying the ability of the IT staff teams to deliver on any projects. One manager is dumber than the next and they are only focused on their bonuses. I've never worked for a company where EVERYONE in IT that wasn't a manager was looking for a job - It's incredible and really sad since you have some great people in the organization.

Also very tough for women to work under this crew. They really think it's 1970 - You wouldn't believe the wildly inappropriate comments that come out of this UBS crew.

Advice to Senior ManagementFire the lot of them and put in IT management that actually cares about the overall corporate goals and isn't trying to get around labor laws by driving out the existing staff.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Glassdoor is your free inside look at CIT reviews and ratings — including employee satisfaction and approval rating for CIT CEO John A. Thain. All 55 reviews posted anonymously by CIT employees.