CIT
2.9 of 5 103 reviews
www.cit.com New York, NY 1000 to 5000 Employees

CIT Reviews

Updated Apr 2, 2014

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2.9 103 reviews

                             

81% Approve of the CEO

CIT Chairman and CEO John A. Thain

John A. Thain

(42 ratings)

42% of employees recommend this company to a friend
103 Employee Reviews
in

Review Highlights

Pros:
  • "Good salaries and flexible work/life balance in general"
    in 8 reviews
  • "Good benefits package and reasonable work/life balance depending on role"
    in 11 reviews
Cons:
  • "Was a good business but prior senior management made some stupid decisions"
    in 5 reviews
  • "Management needs to do more to break down the business unit silos in the holding company"
    in 3 reviews
  • Show more review highlights

Reviews

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Good place to work

Senior Accountant (Former Employee)
Livingston, NJ

I worked at CIT full-time for more than 5 years

ProsEnergetic, smart, upward, profitable, moving forward

ConsTraining, was bankrupt in 2009, emerged from bankruptcy the same year

Advice to Senior ManagementValue

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Great experience, but limited mobility

Vice President (Current Employee)
Charlotte, NC

I have been working at CIT full-time for more than 8 years

ProsGreat work life balance. Great learning experience provides strong foundation.

ConsLimited mobility, both upward and lateral.

Advice to Senior ManagementSupport cross functional development of employees and open avenues for advancement.

Yes, I would recommend this company to a friend

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2 people found this helpful  

Only vampires covet "Fresh Blood"

Director (Former Employee)
Livingston, NJ

I worked at CIT full-time for more than 3 years

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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Like working for government in private sector

Assistant Vice President (Current Employee)
New York, NY

I have been working at CIT full-time for more than 3 years

ProsGood hours
Decent benefits
Good location
Good on resume

ConsCompany going nowhere
Pay is like government pay

Yes, I would recommend this company to a friend

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Fresh Blood Driving Top-Down IT Transformation

Anonymous Employee (Current Employee)

I have been working at CIT

ProsWhat a difference a year or two makes! I have been with CIT for over 10 years and perpetually frustrated at some poor business and technology decisions that drove us into bankruptcy and created a stagnant culture... until now.

Fast forward to 2012 with a new CEO and CIO who both systematically replaced almost their entire management teams and drove a top down change in culture. IT's relationship with the business has been especially impacted with IT going from being glorified order takers to valued partners at the table helping drive business decisions.

Stacey Goodman is known for her eye for talent and that clearly shows. She has given fresh opportunities to leaders that have been here a while, sent a clear message to those who have underperformed or not lived up to the new values, and focused a lot of energy on infusing fresh blood into many leadership roles.

CIT has become a fun and exciting place to work again - especially IT. The company is investing in technology, putting video cameras and giant TVs in conference rooms, focusing investment in projects that will drive company wide transformation and help clean up the legacy mess that has accumulated over years of decreasing investment.

The technology leadership team is a great bunch who are all masters of their domain. Frank Nazzaro has evolved the infrastructure team from bare metal provisioners to a great group of techies who are trying to modernize our foundation and leverage technologies like cloud computing. Stacey has done a good job of leveraging the best leaders she inherited and supplementing with fresh blood.

Sure there are folks from the old guard who complain no matter who's holding the wheel or where we are going. Our leadership has made a point of engaging with these naysayers and challenging them to cheer up and help move us forward or step aside and make room. I respect that greatly. Set the target, clarify everyone's role and purpose, then let's rally together and get some stuff done.

I am excited about working at CIT for the first time in a friggin decade. We are debt free, profitable, led by true visionaries, undergoing massive transformation and investing in technology to drive business growth. Couldn't be a better time for you to come on board.

ConsHQ is in Livingston, NJ
Building came via time portal straight from the 70's
Lots of legacy process (though they are attacking this methodically)
Information security (but they stink wherever you go)
Parking lot has flooded a few times since I've been here
Compliance group just gets bigger every year, what's up with that?
Lots of legacy systems, one mainframe that may never go away (but it works and everyone has warts)
The lady who makes my sandwiches in the cafeteria is sometimes grumpy

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Company continues to be in transition

Anonymous Employee (Current Employee)

I have been working at CIT full-time for more than a year

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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All about facetime

Human Resources (Former Employee)
Livingston, NJ

I worked at CIT full-time for more than a year

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

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

No, I would not recommend this company to a friend

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VP

Vice President (Former Employee)
Chicago, IL

I worked at CIT full-time for more than 3 years

ProsVery fast pace, Intelligent people, good compensation

ConsThey have some risky ventures, makes more but job security changes

Advice to Senior Managementnone

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Great Experience

Anonymous Employee (Former Employee)

I worked at CIT for more than 5 years

ProsGreat co-workers, professional but exhibited a good sense of humor. Good benefits, paid time off, and holidays off.

ConsTraining does not exist. More like sit with this person and learn their habits (good or bad).Pay for certain positions are not compatible with the job duties

Advice to Senior ManagementShow your employees that you appreciate them.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Amazing

Project Coordinator (Former Employee)
Burlington, ON (Canada)

I worked at CIT full-time for more than a year

ProsCIT is a great a place to work ... the management is really supportive for wanting to learn more, supportive of ideas to make things better and overall great place to be.

ConsCIT deals with a lot of boring content, contracts, processing contract and the such, a lot of the roles in Burlington at least are very mundane, nothing too exciting. and the air in the building is so dry it feels like its sucking the life out of you.

Advice to Senior Managementmake it more interesting to work there

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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