CIT Reviews

Updated September 1, 2015
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3.5
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CIT Chairman and CEO John A. Thain
John A. Thain
50 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

99 Employee Reviews

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

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - VP+ in Livingston, NJ
    Current Employee - VP+ in Livingston, NJ
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at CIT full-time (Less than a year)

    Pros

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

    Cons

    Stifling, 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 Management

    Clean house.


  2. Helpful (1)

    stagnant. Oppresive working atmosphere.

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

    I have been working at CIT full-time (More than 8 years)

    Pros

    decent med and dental benefits. Nice coworkers. Good central location in Jax Fl. Decent shift work. Close to shops and restaurants.

    Cons

    Low morale. Little or no advancement opportunities. Absentee mgmt. Bonuses unfairly distributed.

    Advice to Management

    To Corp in NJ I say start fresh with Jax mgmt from top to bottom. Train your mgrs. Stop tge nepotism in hiribg and promotion process. Fire HR Mgrs. Curent staff does not want to get involved in employee complaints. They rat you out! You get black-balled.


  3. Helpful (1)

    No direction - bad place for women

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President in New York, NY
    Current Employee - Vice President in New York, NY
    Recommends
    Negative Outlook
    Disapproves of CEO

    I have been working at CIT full-time (More than 5 years)

    Pros

    Great mid-level management team. Good benefits package and reasonable work/life balance depending on role.

    Cons

    No strategic direction. Disturbingly high number of senior executives without requisite skill set to perform effectively. Token female representation in leadership team. Senior women often pushed aside to provide development opportunities for men. In general, lip service paid to employee development.

    Advice to Management

    Executive management needs to be rebalanced with experienced bank managers.


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  5. Helpful (5)

    Experience depends on the department

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

    I have been working at CIT full-time (More than 8 years)

    Pros

    Great Leadership if you are in the finance departments. John Thain really is a visionary and brilliant manager. Good salaries and flexible work/life balance in general.

    Cons

    Terrible IT leadership. The CIO brought in 10 managers from UBS to secretly offshore/outsource the IT staff. They are killing morale and destroying the ability of the IT staff teams to deliver on any projects. One manager is dumber than the next and they are only focused on their bonuses. I've never worked for a company where EVERYONE in IT that wasn't a manager was looking for a job - It's incredible and really sad since you have some great people in the organization. Also very tough for women to work under this crew. They really think it's 1970 - You wouldn't believe the wildly inappropriate comments that come out of this UBS crew.

    Advice to Management

    Fire the lot of them and put in IT management that actually cares about the overall corporate goals and isn't trying to get around labor laws by driving out the existing staff.


  6. Helpful (1)

    this company is broken.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Contractor - IT Consultant in Livingston, NJ
    Current Contractor - IT Consultant in Livingston, NJ
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at CIT as a contractor (More than 8 years)

    Pros

    -good cafeteria - good food and good people work there. -foosball table.

    Cons

    -no moral compass. -the good people have left already or are leaving. -this was once a good company but senior management team broke it and continue to drive this ship in the dirt with reckless abandon.

    Advice to Management

    “...people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” ― Maya Angelou


  7. 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.


  8. Horrible leadership by management

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

    I have been working at CIT full-time (More than 5 years)

    Pros

    Decent benefits. Pay is okay.

    Cons

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

    Advice to Management

    Get your act together already. You need organized training for the employees.


  9. Helpful (1)

    Going Down the Tubes

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Managing Director in New York, NY
    Current Employee - Managing Director in New York, NY
    Doesn't Recommend
    Disapproves of CEO

    Pros

    They bribed me to join the company. It is currently in turnaround mode. There is not that much pressure as so many people in the company are not currently performing.

    Cons

    Company is currently in distress. Without access to the unsecured credit markets, it is tough to originate new loans. The company is too large for its present level of business activity and it needs to be severely downsized. Thus, working there is a constant uphill battle if you are actually trying to deliver results. There is a general malaise among employees.

    Advice to Management

    Sell the company soon to someone that has cheaper access to funds.


  10. Helpful (1)

    The company has great benefits, but you may find yourself unhappy and unsatisfied.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Jacksonville, FL
    Current Employee - Anonymous Employee in Jacksonville, FL
    Doesn't Recommend
    Disapproves of CEO

    Pros

    The benefits are good. They start you up on medical and dental immediately, no waiting period. the 401k match is great. overall the benefits are some of the best I have seen. The main reason I accepted the position

    Cons

    The training is horrible, No one wants to share information. There is little team work here. communication is lousy.

    Advice to Management

    I would suggest he offer better training. Train managers to better assist their employees with work related issues. encourage the employee do better at their job. Your current mid to low level management often berate their employees for making simple mistakes.


  11. 18 months spent at the CIT Group, Inc.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Management Associate in Charlotte, NC
    Current Employee - Management Associate in Charlotte, NC
    Doesn't Recommend

    Pros

    The company has a good benefits package. There is a good work/life balance culture. There are seasoned veterans with a wealt of knowledge.

    Cons

    The Charlotte office has a flat organizational structure so there is not much movement for growth and advancement. After successfully completing the management associate program management associates are placed in positions where there is a need. The position may not necessarily be a good fit for the management associate.

    Advice to Management

    There are many seasoned veterans who have a wealth of experience at CIT. That is a positive. CIT should recognize that young talent who come to the organization should be groomed to rise up within the organization. Nepotism and handpicking certain employees for positions should be discouraged. It creates an environment where employees become distrustful of management. Try to foster an inclusive work environment as oppose to an exclusive work enironment. Work relations within the organization may greatly improve.



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