CIT

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CIT Reviews

Updated Jun 25, 2014
All Employees Current Employees Only

2.9 114 reviews

80% Approve of the CEO

CIT Chairman and CEO John A. Thain

John A. Thain

(49 ratings)

42% of employees recommend this company to a friend

Review Highlights

Pros
  • Depending on which department you are in, you usually have a great work life balance(in 11 reviews)

  • Good benefits package and reasonable work/life balance depending on role(in 14 reviews)


Cons
  • Senior management is not in touch with all of the businesses(in 7 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 4 reviews)

26 Employee Reviews Back to all reviews
in
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    2 people found this helpful  

    CIT is definitely no 7-Eleven--It's far worse!

    Database Administrator (Former Employee) Livingston, NJ

    ProsBenefits, some decent salaries, advancement (if you have the right friends), title (if you have the right friends),, Ability to land a very well-paid job with CIT (no experience required) if you were friends with the right people (CIO, CAO, COO, etc.)

    ConsIf you're not friends with an officer (CIO, COO, CAO, etc.), look elsewhere if you want a decent job (min: director-level or above). Bottom line: CIT IT CIO takes care of her own.

    Advice to Senior ManagementWatch the mass exodus begin whenever CIO leaves CIT. No new management team would tolerate this level of nepotism!.

    No, I would not recommend this company to a friend

    • Culture & Values
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    • Comp & Benefits
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    • Disapproves of CEO

     

    More interested in "not losing" than in "winning".

    Manager (Current Employee) New York, NY

    ProsThis is a great place to work if you want to have good benefits, a nice cafeteria, and very little challenge in your work. Would be good for employees of the DMV, for example. Only exception is Transportation business, which is a great business full of great employees working extremely hard to lead and innovate. Without Transportation, this firm would be a distant memory.

    ConsSystems are antiquated and there is no money for investment. The business are old, low risk, low return, and dying on the vine. Leadership is more interested in risk and compliance than in actually doing business, and after all the mistakes that have been made by the firm, they are more interested in making sure that investors are happy than whether its a good firm. Employees are either brand new and amazed at how backward the place is, or have 20 years experience and have completely forgotten how to work.

    Advice to Senior ManagementTake some risks!!! This firm is incredible - there are Risk people everywhere, but the firm takes no risk. It's beyond bizarre.

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

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    2 people found this helpful  

    It was the most toxic, compliance driven company I have ever worked for in my 20 year career

    Director (Former Employee) Livingston, NJ

    ProsPay is decent, good 401k. Free parking. Some really good people.

    ConsThose really good people suffer on an every day basis. Leadership very impressed with themselves but in reality are weak. HR has no credibility.

    Advice to Senior ManagementBlow up the HR dept. Start at the top

    No, I would not recommend this company to a friend

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    • Culture & Values
    • Work/Life Balance
    • Senior Management
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    • Approves of CEO

    4 people found this helpful  

    Only vampires covet "Fresh Blood"

    Director (Former Employee) Livingston, NJ

    ProsThe cafeteria is OK but they sell out of many things by 11:30.

    ConsWhere to begin? One of the previous posters who apparently had a full immersion baptism in the CIT Kool-Aid-assuming they are not in HR or public relations- raved about the current IT management team. Really? I won't get into naming names but they singled out the network infrastructure team for undeserved effusive praise. How can you trust that team to transition to cloud technology when they can't even manage routine network infrastructure tasks like middleware configuration or server maintenance without inevitable outages and application failures? That team is so siloed that you can't even figure out where to turn when your app goes down because of their miscues. You have to hope the offshore help desk person who processes your trouble ticket can route it to the correct person and hope they deign to assist in a timely fashion. A lot of other posters have hit the nail on the head regarding the current CIO and her inner circle so I there is little of value I can add to their dead on commentaries.

    Advice to Senior ManagementWhy bother? They could care less about anything other than their bonus checks.

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

    • Culture & Values
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    • Comp & Benefits
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    • No Opinion of CEO

     

    Company continues to be in transition

    (Current Employee)

    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.

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    I do not consider CIT a world class Financial Services Organization

    Anonymous Employee (Former Employee)

    ProsNothing to share. I do not have any pro's to speak of that were not personal in nature. Headquarters in NJ is convenient for many of the employees.

    ConsEverything was second rate compare to other financial services companies. Compensation, career potential and the quality of management will never be at the same level of its competitors.

    Advice to Senior ManagementDo not make committments to change and people that you cannot and will not keep.

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

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    2 people found this helpful  

    Dedicated Staff, marginal management

    Anonymous Employee (Current Employee)

    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

    • Culture & Values
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    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Pressure-packed work environment

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

    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

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Broken Model

    Senior Vice President (Former Employee) Livingston, NJ

    ProsGood hard working middle level people

    ConsBroken business model, lack of clear leadership, all tactical no strategy

    Advice to Senior ManagementSell

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

    • Culture & Values
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    • Career Opportunities
    • No Opinion of CEO

     

    Just another paycheck

    Vice President (Former Employee) Livingston, NJ

    ProsFlexible work hours, really nice cafeteria...that's about it. Oh, if you're in the right department, and know the right people, and say the right things, you could do OK.

    ConsFrom the tech dept. perspective. Too many consultants who are only interested in their current position and will leave the second something higher paying comes along. No long term outlook. Constantly shifting goals. Lots of layoffs, it has been almost a constant several times a year for the last five years. No one there that is over 30 actually does work anymore, they all direct "offshore" people. Onerous paperwork and regulations. Almost seems like you have to fill out a form to use the rest room. There's more, but I won't bother.

    No, I would not recommend this company to a friend

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