CIT
2.9 of 5 113 reviews
www.cit.com New York, NY 1000 to 5000 Employees

CIT Reviews

Updated Jun 25, 2014
All Employees Current Employees Only

2.9 113 reviews

                             

79% Approve of the CEO

CIT Chairman and CEO John A. Thain

John A. Thain

(48 ratings)

41% of employees recommend this company to a friend
113 Employee Reviews
in

Review Highlights

Pros:
  • "Good salaries and flexible work/life balance in general"
    in 10 reviews
  • "Good benefits package and reasonable work/life balance depending on role"
    in 13 reviews
Cons:
  • "Senior management is not in touch with all of the businesses"
    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 4 reviews
  • Show more review highlights

Reviews

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

     

    Hierarchies and fiefdoms; bureaucratic, stifling with no opportunity for innovation

    VP+ (Current Employee)
    Livingston, NJ

    ProsPay... maybe. CIO is new, and there's hope.

    ConsStifling, bureaucratic, extreme administrative overhead. People cannot seem to execute on new. Stuck in hierarchy and fiefdoms. The market they're in is rife with opportunity but the "guard" stops any innovation in it's path. Antiquated infrastructure with zero tools for collaboration.

    Advice to Senior ManagementClean house.

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

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    Horrible leadership by management

    VAA (Current Employee)

    ProsDecent benefits. Pay is okay.

    ConsManagement is very disorganized and change the rules of the game every few weeks.

    Advice to Senior ManagementGet your act together already. You need organized training for the employees.

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

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    • Culture & Values
           
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    Once a great company, now struggling to redefine itself

    Anonymous Employee (Former Employee)

    ProsOverall decent benefits; great opportunity for new graduates to "get the feet wet".

    ConsNot a long-term environment; continuous layoffs aimed at reducing expenses. Limited mentors.

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

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    • Work/Life Balance
           
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    1 person found this helpful  

    Not surprising the Home Lending unit failed during sub-prime crisis!

    Underwriter (Former Employee)
    Saint Louis, MO

    ProsThe benefits package wasn't too bad. I was able to get most days off. Some of the other supporting staff was very pleasant to work with on a daily basis.

    ConsManagement at local office was more concerned about the bottom line than the underwriting the correct way at times. This was a problem throughout the whole sub-prime industry. Doing the right thing and following guidelines all of the time would get you labeled a trouble maker. When asking for days off management would sometimes ask too many questions about why you wanted to take a day off or use a personal day.

    Advice to Senior ManagementBetter focus on quality control and lending within CIT guidelines.

    No, I would not recommend this company to a friend

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    • Work/Life Balance
           
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    Don't bother, if CIT survives it may not be of any value to work there.

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

    ProsTechnology is leading edge. Some of the front line technologists left are very highly skilled. Most have left or were outsourced to India.

    ConsOutsourcing culture. Senior management is very susceptible to group think. Like minded individuals with poor management, decision, and communication skills who surround themselves with individuals with poor management, decision, and communication skills.

    Advice to Senior ManagementYou have lost the company's trust. Decisions that were made to make CIT a Fortune 200 company have backfired and now the company is trying to survive during this financial crisis.

    No, I would not recommend this company to a friend

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    1 person 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

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    • Culture & Values
           
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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

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    • Culture & Values
           
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    • 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
           
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    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

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    • Culture & Values
           
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    • Senior Management
           
    • Comp & Benefits
           
    • Career Opportunities
           
    • 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.

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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 113 reviews posted anonymously by CIT employees.