CIT Reviews

Updated July 20, 2015
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CIT Chairman and CEO John A. Thain
John A. Thain
22 Ratings

Pros
  • There is a Good work-life balance (in 16 reviews)

  • Great company, good benefits, nice atmosphere (in 15 reviews)

Cons
  • Senior management lacks transparency (in 8 reviews)

  • this was once a good company but senior management team broke it and continue to drive this ship in the dirt with reckless abandon (in 5 reviews)

More Pros and Cons

42 Employee Reviews

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  1. Too much GE blood in this small-business-minded, Fortune 500 company.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Customer Service Representative in Chicago, IL
    Current Employee - Customer Service Representative in Chicago, IL

    I have been working at CIT

    Approves of CEO
    Approves of CEO

    Pros

    Majority of employees are friendly and easy to work with. Middle managment is talented and willing to work with lower employees. Plenty of projects and opportunities to get a wide variety of work experience. The company is large enough to offer good benefits package and fairly competitive compensation packages. Being of Fortune 500 size, it is a reputable company that can look really good on a resumee. Very corporate atmosphere, nice office space and comfortable amenities. Location of offices is usually very centrally located in major cities across the globe. Opportunities to expand globally are a possibility in the near future.

    Cons

    Small business sector (Rail) has limitied opportunities for advancement within the company. CIT is not very open regarding their compensation possibilities, everything regarding pay, bonuses, and raises is kept very quiet. Employee training programs are HORRIBLE. No way to advance your own knowledge within a position without looking for outside opportunities (which may or may not be reimbursed.) Knowledge and information systems seem very stagnant. Though new ideas are encouraged and received well, little encouragement and support in actually inputting those new ideas. Due to the nature of the [rail] industry, much of the technology is behind the times and not as efficient as it could be.

    Advice to Management

    Begin investing in employee development programs. This is key to employee retention. Also, place more importance on employee ratings systems. These are not taken seriously and there are employees who are very clearly not doing the work they are getting paid for. Start offering middle managment more support for fixing the problems.


  2. CIT employees are the key to success for the company!

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY

    I have been working at CIT

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    CIT Group is a company that demonstrates respect and a high level of integrity. Although the financial services industry is struggling we appear to be making the right kind of decisions under the guidance of the CEO and senior management.

    Cons

    As with any other company, the management team sometimes forget that they most manage the people in addition the the work. Some lose site of the most important asset to the company, the people.

    Advice to Management

    Don't forget about the magnificient, skilled, and intelligent employees that are working hard each and every day to ensure the success of the company.


  3. Great place

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Summer Analyst in New York, NY
    Former Employee - Summer Analyst in New York, NY

    I worked at CIT

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    The internship program at CIT Group is extremely good. Interns got the opportunity to meet the current CEO, John Thain. Mr Thain is a Wall Street icon and he give advice to all of the interns as to how to move their career forward. Additionally, interns attended workshops and seminars to help them develop personal and professionally. Furthermore, CIT has amazing clients such as Michael Kors, Toys R US, and Borders.

    Cons

    If you are not interested in middle market jobs then it may not be the place for you.

    Advice to Management

    It was extremely good, I appreciate the fact that they care about the development of their interns.


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  5. I am new but so far friendly, helpful and team oriented group. Poor technology is frustrating.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President in Livingston, NJ
    Current Employee - Vice President in Livingston, NJ

    I have been working at CIT

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    Stay in the financial arena without going to NYC. Pay is high. Company is a manageable size. People are professional.

    Cons

    Technology is very old which makes people jump through hoops. People are less sophisticated than at larger companies. Limited resources.

    Advice to Management

    Invest in infrastructure and you will have the information you need to run your business.


  6. Extremely knowledgeable senior management, help you learn the mechanics

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Corporate Finance Intern in Livingston, NJ
    Former Employee - Corporate Finance Intern in Livingston, NJ

    I worked at CIT

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    Nice people, eager to help you learn the various aspects of financial reporting (Sarbanes- Oxley), TIC Reports, etc. Brief you on the weekly asset sales and help you prepare for the professional world.

    Cons

    The company went bankrupt recently and is under heavy surveillance from the regulators, so the bonus and salaries are below the industry average.


  7. Helpful (1)

    A wonderful onsite experience. A lot learned in a while.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Contractor - Business Analyst in Livingston, NJ
    Current Contractor - Business Analyst in Livingston, NJ

    I have been working at CIT as a contractor (Less than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Its a going concern. Very good and knowledgeable senior management, always engaged in new business plans for the growth. Good work culture. Everyone comes up to table with innovative ideas participating in healthy brainstorming sessions.

    Cons

    IT infrastructure is not bad but can be better with a little improvement. More integration needed between the departments.

    Advice to Management

    start looking for employees on full time basis. As by the time contractors get equipped by the work , their contracts expires. Look for more in-house application / software to reduce the licensing fee.


  8. Assistant VP, Leveraged Finance, NYC

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Assistant Vice President, Corp Finance in New York, NY
    Former Employee - Assistant Vice President, Corp Finance in New York, NY

    I worked at CIT full-time (More than 5 years)

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    Decent people; collegial atmosphere. Reasonable if not very competitive salary.

    Cons

    Poor morale, continues stream of layoffs. Horrible systems and work flows - not staffed or built to be a regulated bank. Little career advancement. Substandard pay vs. competition. Severe lack of leadership at many levels.


  9. Helpful (1)

    Great internship experience.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Intern - Anonymous Intern in Livingston, NJ
    Current Intern - Anonymous Intern in Livingston, NJ

    I have been working at CIT as an intern (Less than a year)

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    Well established, well structured company; as would be expected for a company that's been around as long as they have. Great intern program, with really engaging projects. Management was organized (at least in my department) and knew what they were doing

    Cons

    The market really had taken it's toll by the second summer I interned there. The atmosphere was a little tense (as would be expected since they were filing for Chapter 11). I'm sure things have stabilized for them now. Probably not the most enjoyable atmosphere for younger talent, as most of the employees tended to be from an older generation.


  10. Very rewarding

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at CIT

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Very knowledgible employees Good atmosphere great first level management on site caf. great sdlc procedures current applications management keeps employees informed

    Cons

    not enough offices some mangers are in cubicles bad meeting rooms some enclosed by glass only Livingston building needs to be modernized


  11. Helpful (1)

    CIT is a great place to work for if you want quiet office life.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Intern - Business Analysis in New York, NY
    Former Intern - Business Analysis in New York, NY

    I worked at CIT as an intern (More than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Quiet, relaxed environment, decent pay, friendly employees

    Cons

    Rarely see young employees and the office is too dull

    Advice to Management

    Hire more young talents



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