Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $35 billion in financing and leasing assets. It provides financing, leasing and advisory services to its clients and their customers across more than 30 industries. CIT maintains leadership positions in middle market lending, factoring, retail, and equipment finance, as well as aerospace, equipment and rail leasing.
CIT’s U.S. bank subsidiary CIT Bank (Member FDIC), BankOnCIT.com, offers a variety of savings options designed to help customers achieve their financial goals.
CIT was born in 1908 when Henry Ittleson found a new way to make financing available to businesses in St. Louis, Missouri. Soon CIT was forging paths across the country, into Canada and overseas. After 100 years, financing remains at the heart of the company. But time and experience have produced innovations unimagined a century ago. True to its pioneering legacy, CIT remains an agent of opportunity, providing new resources and fresh perspectives to over one million clients across thirty industries around the globe.
A NEW VENTURE (1908-1924)
Henry Ittleson's innovation and experience guided CIT early growth. The company grew with the U.S. economy as it transitioned to a new era of corporate organization, mass production and consumer spending.
STANDING FIRM (1925-1945)
Through the Great Depression, World War II and in a time when reservations about installment buying ran deep, CIT maintained an unshakeable belief in the soundness of American institutions and the good judgment of its customers
POST WAR PROSPERITY (1946-1965)
When America turned its energies to post-war production, it demonstrated the confidence of victory as well as an awesome capacity for growth and widely shared prosperity. CIT helped provide the capital fueling this unprecedented expansion of the national economy.
ADAPTING TO CHANGE (1966-1985)
By the late 1960s the postwar boom was ebbing: drift and doubt began to creep back into the economy. Through the 1970s CIT redefined its business lines in a successful effort to stay ahead of landmark changes in politics, culture, and the economy.
A NEW ECONOMY (1986-2007)
The 1980s brought a new era of business innovation, while the 1990s brought sweeping technological change. With unprecedented productivity came opportunities to prosper and build. CIT was there to help businesses and consumers make the most of them.
THE SECOND CENTURY (2008 – PRESENT)
The CIT Centennial coincided with the global financial crisis that severely impacted financial markets and posed a grave threat to all financial institutions, including CIT. The Company took dramatic measures to withstand the downturn and position it for long-term prosperity.
North American Commercial Finance
CIT Commercial Services is a leading provider of factoring services in the United States. We provide credit protection, accounts receivable management services and asset-based lending to manufacturers and importers that sell into retail channels of distribution.
CIT Corporate Finance provides lending, leasing and other financial and advisory services to the middle market with a focus on specific industries, including: Aerospace & Defense, Business Services, Communications, Energy, Entertainment, Gaming, Healthcare, Industrials, Information Services & Technology, Restaurants, Retail, Sports & Media, and Transportation.
CIT Equipment Finance provides leasing and equipment loan solutions to small businesses and middle market companies in a wide range of industries. We provide creative financing solutions to our borrowers and lessees, and assist manufacturers and distributors in growing sales, profitability and customer loyalty by providing customized, value-added finance solutions to their commercial clients.
Real Estate Finance
CIT Real Estate Finance provides senior secured commercial real estate loans to developers and other commercial real estate professionals. We focus on stable, cash flowing properties and originate construction loans to highly experienced and well-capitalized developers.
Transportation & International Finance
CIT Business Air provides financing solutions to business jet operators. Serving clients around the globe, we provide financing that is tailored to our clients’ unique business requirements. Products include term loans, leases, pre-delivery financing, fractional share financing and vendor/manufacturer financing.
CIT Commercial Air is one of the world’s leading aircraft leasing organizations and provides leasing and financing solutions—including operating leases, capital leases, loans and structuring, and advisory services—for commercial airlines worldwide. We own and finance a fleet of more than 300 commercial aircraft and have more than 100 customers in approximately 50 countries.
CIT International Finance offers equipment financing and leasing to small and middle market businesses in the UK and China.
CIT Maritime Finance offers senior secured loans, sale-leasebacks and bareboat charters to owners and operators of oceangoing cargo vessels, including tankers, bulkers, container ships, car carriers, and offshore vessels and drilling rigs.
CIT Rail is an industry leader in offering customized leasing and financing solutions and a highly efficient, diversified fleet of railcar assets to freight shippers and carriers throughout North America and Europe.
Our Commitment to Diversity
CIT strives to create a culture where employees with varied perspectives, skills and experience work together to meet organizational goals. An inclusive environment that values the collaboration of diverse cultures and ideas fosters greater creativity and innovation, building value for our stakeholders – customers, investors and employees.
CIT is committed to ensuring our recruitment and employment practices provide equal opportunity to all applicants and employees. If you are an individual with a disability who would like to request a reasonable accommodation as part of the recruitment process, please email email@example.com. Our goal is to respond to accommodation requests within 48 hours.
Learn more about some of our initiatives:
INROADS is a non-profit organization whose goal is to develop and place talented underserved youth in business and industry. CIT works with INROADS to create internship opportunities throughout the Company with the potential for full-time placement upon graduation.
CIT Diversity Council
CIT recognizes that diversity gains will not be sustained if the work environment does not promote behaviors that encourage new ways of problem-solving and reward diversity of thought. The Diversity Council was created to facilitate an employee-driven culture of inclusion through networking events and initiatives that bring a heightened sense of engagement, awareness and acceptance of people from all backgrounds. These activities provide a forum for employees to interact with their peers, share their backgrounds and build relationships with people who are different from them.
At CIT, we deliver results for our investors by providing commercial financing solutions to address market needs.
- We have over 100 years of operating history behind us, superior industry expertise and a well-established brand.
- We're building on a strong foundation to take full advantage of business opportunities that will fuel our growth moving forward.
- We have global presence in numerous countries, including offices in Dublin, Hong Kong, London, Mexico City and Toronto.
Integrity We deliver on our promises and build trust in our relationships. We stand by what we say and we do what is right – every time. We are honest, trustworthy and truly accountable for our actions.
Respect We give and earn respect by genuinely considering what our colleagues, customers and shareholders are saying. We develop respect with our words, deeds and actions.
Resilience Approach each challenge as an opportunity to adapt new methods, skills and strategies for moving our business forward.
Finance Development Program (FDP)
CIT Group will be hiring for Internship positions within its accounting and finance department at its Livingston, NJ and Jacksonville, FL Offices, for the summer of 2015. The Internship will offer an exciting opportunity to work in one of several disciplines within the Finance Organization.
Why the CIT Finance Development Program is Unique:
- Interns are the first to be considered for the 2-year rotational analyst program
- Involves four, 6-month rotations offering the participant broad experience and a holistic view of the finance organization while providing enough time to make valuable contributions.
- Emphasis on leadership training and developing internal talent in the form of lunch and learns, executive speaker series, team building activities, technical and other structured training
- Frequent exposure to and support from senior management
- Support for certain advanced training and continued education (e.g. CPA, CFA, MBA, MS)
- Work/Life Balance
- Culture & Values
- Career Opportunities
- Comp & Benefits
- Senior Management
I worked at CIT (More than 10 years)RecommendsPositive OutlookApproves of CEORecommendsPositive OutlookApproves of CEO
Company heading in the right direction since the bankruptcy filing. Offers competitive benefits package to employees. Provides perpetual educational programs to employees.
Staffing in certain areas are very thin which leads to long hours, projects not meeting deadlines and low morale among employees.
Advice to Management
Identify and replace poor performing managers. Management needs to better determine the appropriate staffing levels based on workload. "Too many chiefs not enough Indians".
Getting an Interview
Getting an Interview
- No OfferPositive ExperienceAverage Interview
I applied online. The process took 2 weeks – interviewed at CIT (New York, NY) in May 2015.
Applied through online website. Human resources reached out for interview. 2 Rounds of interview before a decision is made. Good experience. Interviewers were Vice President, Assistant Vice President, and two directors. Office was very nice and transparent environment.
- Tell me about yourself. Answer Question
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Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $35 billion in financing and leasing assets. It provides financing, leasing and advisory services principally to middle market companies across more than 30 industries primarily in North America, and equipment financing and leasing solutions to the transportation industry worldwide. Its U.S. commercial bank subsidiary, CIT Bank (Member FDIC) BankOnCIT.com, offers a variety of savings options designed to help customers achieve their financial goals. cit.com