CIT

  www.cit.com
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CIT Reviews

Updated August 16, 2014
Updated August 16, 2014
117 Reviews

2.7
117 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
CIT Chairman and CEO John A. Thain
John A. Thain
51 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.  

    Poorly run by the senior executives. Used to be a great place to work before investment bankers ran the business to ed.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Good benefits compared to other large firms.

    Cons

    Lack of any certainty for survival. Shareholders are all now ST investors just wanting to recoup their investment.

    Advice to ManagementAdvice

    The best value of this company is to divest it all.

    Recommends
    Disapproves of CEO
  2.  

    Great people

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

    Pros

    CIT, pre-bankruptcy, was very pro business and provided all the tools for group and individual success. The people are professional, smart and a pleasure to work with.

    Cons

    Career advancement was limited as senior positions rarely became open. Often times, senior roles were filled from outside the firm.

    Advice to ManagementAdvice

    Try and find ways to promote more of the talented staff to take on greater responsibilities and include title adjustments.

    Recommends
    No opinion of CEO
  3.  

    CIT had a great franchise

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

    Pros

    Colleagiate environment with smart, creative people
    Supportive, communicative senior management about what was going on throughout the liquidity crisis.
    Provided significant capital and creative ideas to middle market clients - had a real franchise and serviced a growing market. CIT should have been one of the ones that was saved by the government because they were actually lending to growing middle market companies.

    Cons

    Not sure what the company will be like under new "ownership" of its bondholders.
    With the bankruptcy, they have lost significant credibility/reliability as an agent bank to their clients.
    Senior management spent too much time relying on the government bailout without a backup plan.
    Capital markets is its weakest area.

    Advice to ManagementAdvice

    Keep fighting. The middle market needs you.

    Recommends
    Approves of CEO
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  5.  

    CIT employees are the key to success for the company!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee  in  New York, NY
    Current Employee - Anonymous Employee in New York, NY

    Pros

    CIT Group is a company that demonstrates respect and a high level of integrity. Although the financial services industry is struggling we appear to be making the right kind of decisions under the guidance of the CEO and senior management.

    Cons

    As with any other company, the management team sometimes forget that they most manage the people in addition the the work. Some lose site of the most important asset to the company, the people.

    Advice to ManagementAdvice

    Don't forget about the magnificient, skilled, and intelligent employees that are working hard each and every day to ensure the success of the company.

    Recommends
    Approves of CEO
  6.  

    Too much GE blood in this small-business-minded, Fortune 500 company.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Customer Service Representative  in  Chicago, IL
    Current Employee - Customer Service Representative in Chicago, IL

    Pros

    Majority of employees are friendly and easy to work with. Middle managment is talented and willing to work with lower employees. Plenty of projects and opportunities to get a wide variety of work experience. The company is large enough to offer good benefits package and fairly competitive compensation packages. Being of Fortune 500 size, it is a reputable company that can look really good on a resumee. Very corporate atmosphere, nice office space and comfortable amenities. Location of offices is usually very centrally located in major cities across the globe. Opportunities to expand globally are a possibility in the near future.

    Cons

    Small business sector (Rail) has limitied opportunities for advancement within the company. CIT is not very open regarding their compensation possibilities, everything regarding pay, bonuses, and raises is kept very quiet. Employee training programs are HORRIBLE. No way to advance your own knowledge within a position without looking for outside opportunities (which may or may not be reimbursed.) Knowledge and information systems seem very stagnant. Though new ideas are encouraged and received well, little encouragement and support in actually inputting those new ideas. Due to the nature of the [rail] industry, much of the technology is behind the times and not as efficient as it could be.

    Advice to ManagementAdvice

    Begin investing in employee development programs. This is key to employee retention. Also, place more importance on employee ratings systems. These are not taken seriously and there are employees who are very clearly not doing the work they are getting paid for. Start offering middle managment more support for fixing the problems.

    Approves of CEO
  7.  

    Great HR, benefits package but IT Management- recycled failures from other financial institutions

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

    Pros

    Great HR, Benefits, etc... A great place to just collect a paycheck, if you have no drive or career goals.

    Cons

    Just a paycheck with ZERO career opportunity unless you previously worked with and are friends with the current (former failed BOA IT managment) now in place.

    Advice to ManagementAdvice

    None...

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  8.  

    Was a great company to work for several years ago.

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    At one time seemed very interested in development, training, and advancement of employees. May not be too far gone to get some of that back.

    Cons

    In the past year or two, Integrity and honor seems to have been replaced by the typical big bank "everyone is replaceable at any moment for any reason" stance. Pays well but certainly isn't a stable work environment.

    Advice to ManagementAdvice

    Nothing. The decisions coming from executive row seem to be made in a vacuum, at least with regards to working conditions or employee relations.

  9.  

    A casualty of Cost Cutting

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

    Pros

    Great Co workers, 401k contribution and in my former department flexible work hours

    Cons

    Management does not care about worker bees anymore

    Advice to ManagementAdvice

    Get rid of highly paid senior managers and save the people who do the work.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  10.  

    15 year employee - good experience

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Director  in  New York, NY
    Current Employee - Director in New York, NY

    Pros

    Good compensation, flexibility in working arrangements

    Cons

    Not great on the vision thing; business model needs work.

    Advice to ManagementAdvice

    HR runs the place - is that how you really want to roll?

    Recommends
    Neutral Outlook
    No opinion of CEO
  11. 2 people found this helpful  

    A company on the rise with strong history

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Director  in  New York, NY
    Current Employee - Director in New York, NY

    Pros

    Small company, good culture and people, good benefits, less stress than other New York Bank Holding Companies.

    Cons

    This is a 100 plus year old firm which is in transition. the business is growing, evolving and this can be a challenge for staff.

    Advice to ManagementAdvice

    Remember the core values on which the firm was based while focusing on employees - great and satisfied employees will make the firm succeed; overlooked and underpaid employees will do the opposite.

    Recommends
    Positive Outlook
    Approves of CEO

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