CIT Reviews

Updated September 17, 2014
Updated September 17, 2014
124 Reviews
2.6
124 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
CIT Chairman and CEO John A. Thain
John A. Thain
57 Ratings

Review Highlights

Pros
  • Depending on which department you are in, you usually have a great work life balance (in 11 reviews)

  • Good benefits package and reasonable work/life balance depending on role (in 14 reviews)


Cons
  • Senior management is not in touch with all of the businesses (in 7 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)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Bad employer (Mexico's office)

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at CIT

    Pros

    Without much workload
    Respect the work schedule
    Activities for employees

    Cons

    Very bad management
    No training for employees
    Directors with little experience and poor training

  2.  

    Not the same company anymore

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at CIT

    Pros

    Has good medical and dental benefits

    Cons

    Since the new CEO and CIO joined the company, many re-organizations have occurred and jobs impacted. Didn't take the time to assess talent and move individuals to different positions.

    No opinion of CEO
  3.  

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

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - VP+  in  Livingston, NJ
    Current Employee - VP+ in Livingston, NJ

    I have been working at CIT full-time for 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 ManagementAdvice

    Clean house.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  4. We want your feedback – Are these company reviews helpful to you?  Yes | No
  5.  

    Horrible leadership by management

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - VAA
    Current Employee - VAA

    I have been working at CIT full-time for 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 ManagementAdvice

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6.  

    Once a great company, now struggling to redefine itself

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at CIT full-time

    Pros

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

    Cons

    Not a long-term environment; continuous layoffs aimed at reducing expenses. Limited mentors.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 1 person found this helpful  

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

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Underwriter  in  Saint Louis, MO
    Former Employee - Underwriter in Saint Louis, MO

    I worked at CIT

    Pros

    The 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.

    Cons

    Management 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 ManagementAdvice

    Better focus on quality control and lending within CIT guidelines.

    Doesn't Recommend
  8.  

    Don't bother, if CIT survives it may not be of any value to work there.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Vice President of Information Technology  in  Livingston, NJ
    Former Employee - Vice President of Information Technology in Livingston, NJ

    I worked at CIT

    Pros

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

    Cons

    Outsourcing 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 ManagementAdvice

    You 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.

    Doesn't Recommend
    Disapproves of CEO
  9. 1 person found this helpful  

    Terrible place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee  in  Livingston, NJ
    Current Employee - Anonymous Employee in Livingston, NJ

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

    Pros

    If you work in the Livingston office, it's an easy commute for those in nearby suburbs who have a car. If you live in NYC and don't have a car, it's a train and then a 20 minute cab ride, because Livingston is not near any form of public transportation.

    Cons

    Some very talented employees, but many managers are inept in their ability to manage staff. Some are rude and disrespectful. HR dept is dysfunctional. Good performance not rewarded financially. Constantly chasing meaningless metrics. Outdated technology; company is still using Internet Explorer 8.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  10. 1 person found this helpful  

    AVP; jump ship if possible

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Assistant Vice President  in  New York, NY
    Former Employee - Assistant Vice President in New York, NY

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

    Pros

    Decent benefits; friendly enough people, though most are just as non-stoked to (still) be at CIT as you are.

    Cons

    Terrible morale. Relatively low compensation compared to other banks. Constant stream of layoffs and people quitting (at least through 2012 & 2013).

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11. 2 people found this helpful  

    CIT is definitely no 7-Eleven--It's far worse!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Database Administrator  in  Livingston, NJ
    Former Employee - Database Administrator in Livingston, NJ

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

    Pros

    Benefits, 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.)

    Cons

    If 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 ManagementAdvice

    Watch the mass exodus begin whenever CIO leaves CIT. No new management team would tolerate this level of nepotism!.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

Worked for CIT? Contribute to the Community!

Your response will be removed from the review – this cannot be undone.