CIT Reviews

Updated June 28, 2015
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CIT Chairman and CEO John A. Thain
John A. Thain
9 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

24 Employee Reviews

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  1. Helpful (1)

    Team Lead

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Portfolio Specialist in Jacksonville, FL
    Former Employee - Portfolio Specialist in Jacksonville, FL
    Doesn't Recommend
    Negative Outlook

    I worked at CIT full-time (More than 8 years)

    Pros

    At the baseline employee level there are great co-workers willing to help each other and work together. They all support each other and stick together.

    Cons

    Management is the worst. There is a major communication breakdown between the base employee and upper management. Too much politics and FDIC requirements to "...stay in compliance." This does not allow the employees to remain focused on their jobs, they spend way too much time having to document for the "management" and protect themselves to retain their positions.

    Advice to Management

    Upper management, not middle, needs to listen to their lower level employees. Unbiased outside consultants should be brought in to shadow the lower level ranks for a month in key depts, i.e. Cust Ser, Collections, Premier, Fin. Adj., etc., as well as management. The "consultant" can then freely ask questions and interact with the employees to get a real feel for the "dissension among the ranks" in regards to how the Team Lead and Director positions are "micro-managing".


  2. Helpful (2)

    Don't waste your time

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Pay and that is about it

    Cons

    Place is run like a death camp. If you like to work until all hous of the night, CIT is your place.


  3. Helpful (2)

    Toxic Work Environment

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Administrative in Newark, NJ
    Former Employee - Administrative in Newark, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Good Location, decent benefits, cafeteria in the building

    Cons

    unprofessional work environment, CONTROL and COMMAND leadership, outdated IT systems, limited room to advance, No diversity in the leadership positions at all or on the Board.

    Advice to Management

    STOP pretending to be a profitable organization by downsizing. RE-VAMP and overhaul all C-level


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  5. Helpful (2)

    What knowledge, what work?

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Great place to work for those who don't have career ambitions and would like to be paid, have benefits, and flexibility.

    Cons

    -No growth -Little commitment to employee training -Unfulfilling, dull work -Unmotivated workers who are unknowledgeable and don't care to gain more knowledge -Great reluctance to do anything outside of one's job description -If you're a young professional, steer clear of this place -Atrocious culture -Hideous office space in Livingston


  6. Helpful (3)

    The overall company is well grounded and there is room for advancement

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    opportunity to advance with the amount of positions

    Cons

    inability to advance due to unethical work habits such as favoritism.

    Advice to Management

    clean sweep management department along with HR department. Mild change would be ideal in moving forward.


  7. Helpful (5)

    Horrible Company

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Really can't think of any other than the benefits. Nothing good to say about this company.

    Cons

    This company has been under a constant restructure since I started working there in 2008. Management keeps putting employees in new positions without giving them a choice in the move. They can't get any process to work so they keep switching gears while putting the employees thru hell. The pay is lower than other companies. Corporate politics and culture is highly toxic. Management fuels a hostile work environment.

    Advice to Management

    Close the doors go out of business since that is where you are heading.


  8. Helpful (2)

    Poor environment where people are not valued, only the perception on the street is valued

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Director in Livingston, NJ
    Current Employee - Director in Livingston, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at CIT full-time (More than 10 years)

    Pros

    Pay - they overpay their new employees

    Cons

    -management would rather see employees leave then reward existing employees -no career path -constantly starting new projects without managing capacity -only focusing on the present, no long-term view and no leadership skills on the management team

    Advice to Management

    Abandon the acquisition strategy and focus on people and processes. Without fixing the core problems, CIT will always be a mediocre company at best.


  9. Was a good place to work for may years but last 12 month were very difficult due to wind down of operations

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Legal in Livingston, NJ
    Former Employee - Legal in Livingston, NJ
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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

    Pros

    Due to wind down there are currently no pros.

    Cons

    Company n wind down, therefore no opportunities.


  10. Helpful (1)

    Nice People! But a very unpleasant place to work!

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Vice President in New York, NY
    Former Employee - Senior Vice President in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    There are none! Most of the people there are very nice. But there is not much else to say!

    Cons

    1) The corporate culture is awful 2) There is little to no employee development, continuing education, training etc. 3) The firm's offices are 20 years out of date and the office equipment and offices are a wreck. The carpets are stained everywhere. 4) The firms technology, systems and infrastructure is pitiful. There is a high turnover in the technology group. 5) Each of the operating units is run like it is a separate company and there is little synergies, coordination or cooperation. 6) There is little ambition among employees. It seems that many stay for a few years until something better comes along 7) The firms finance, risk, credit and other policies and procedures are very outdated. 8

    Advice to Management

    I think John Thane and Scott Parker need to rip the firm apart and rebuild it from the ground up. What they have now is very broken and unfixable!


  11. All about facetime

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Human Resources in Livingston, NJ
    Former Employee - Human Resources in Livingston, NJ
    Doesn't Recommend
    No opinion of CEO

    I worked at CIT full-time (More than a year)

    Pros

    CIT is a large global financial institution across several markets--good opportunities to grow. Headquarters are in NJ but in NYC as well.

    Cons

    All about the facetime - work life doesn't matter to mgmt as this company is typically a vacation away from the more competitive banking. While everyone has laptops, old school mgmt looks down if there are empty seats at 6 pm even on Friday nights in the summer

    Advice to Management

    Need a better career proposition to keep strong talent other than ' these hours are better then Merrill'



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