CIT Reviews

Updated April 24, 2015
161 reviews filtered by
  • Any Location
  • Any Job Title

Employee Reviews

Sort: Popular Rating Date
  1. Company continues to be in transition

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

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

    Neutral Outlook
    No opinion of CEO
    Neutral Outlook
    No opinion of CEO

    Pros

    Good 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.

    Cons

    HR 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 Management

    Spend 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.

  2. Helpful (1)

    I do not consider CIT a world class Financial Services Organization

    • 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

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Nothing to share. I do not have any pro's to speak of that were not personal in nature. Headquarters in NJ is convenient for many of the employees.

    Cons

    Everything was second rate compare to other financial services companies. Compensation, career potential and the quality of management will never be at the same level of its competitors.

    Advice to Management

    Do not make committments to change and people that you cannot and will not keep.

  3. Helpful (2)

    Dedicated Staff, marginal management

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

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

    Negative Outlook
    Approves of CEO
    Negative Outlook
    Approves of CEO

    Pros

    Coworkers band together despite frequent management replacements

    Cons

    Management still cannot get it right

    Advice to Management

    Find work in a different industry sector or planet.

  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Pressure-packed work environment

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

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

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Good work/life balance. Well-run cafeteria. Most people are nice and easy to work with. Good opportunity for on-the-job learning. Some directors go the extra-mile to make CIT a satisfying place to work.

    Cons

    Not enough directors go the extra-mile to make CIT a satisfying place to work. No opportunity to learn new things, unless self-motivated and can squeeze it in. Those with talent are stretched too thin. Those that are less-motivated get away with doing the bare minimum. Some subordinates feel managers aren't in-touch, therefore those managers are not respected. Promises made by management are too often not kept. Managers that are sharp are not appreciated. Low employee morale. Lots of job-seeking going on. Plenty of complaints, bad language, bad attitudes, and behind-the-back-bad-mouthing. Goal setting policy is implemented like it was a forced government mandate rather than as a tool to develop talent. Politically correct surveys are a joke.

    Advice to Management

    Recognize the talent you have and reward it. Create a policy of regularly clearing out dead-wood. Implement a 360 degree feedback program.

  6. Broken Model

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

    I worked at CIT full-time (More than 3 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Good hard working middle level people

    Cons

    Broken business model, lack of clear leadership, all tactical no strategy

    Advice to Management

    Sell

  7. Just another paycheck

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

    I worked at CIT full-time (More than 10 years)

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Flexible work hours, really nice cafeteria...that's about it. Oh, if you're in the right department, and know the right people, and say the right things, you could do OK.

    Cons

    From the tech dept. perspective. Too many consultants who are only interested in their current position and will leave the second something higher paying comes along. No long term outlook. Constantly shifting goals. Lots of layoffs, it has been almost a constant several times a year for the last five years. No one there that is over 30 actually does work anymore, they all direct "offshore" people. Onerous paperwork and regulations. Almost seems like you have to fill out a form to use the rest room. There's more, but I won't bother.

  8. Helpful (1)

    Interesting time at CIT Group

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

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

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    Pros

    Great employees who work hard

    Cons

    Belief that current employees don't have the skills needed

    Advice to Management

    Trust your employees to get the job done

  9. Helpful (2)

    Low Morale in IT Department

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

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

    Doesn't Recommend
    No opinion of CEO
    Doesn't Recommend
    No opinion of CEO

    Pros

    many people stay at CIT for a long time

    Cons

    IT Department has had multiple layoffs in recent years leading to low morale and fears of total outsourcing of IT. Culture is focused on compliance and not technology. limited room for internal growth. majority of high-level positions have gone to new hires and not internal candidates. Business has low regard for IT department and thinks of them as an expense only.

  10. CIT post Bankruptcy

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

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

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    New C level team has smarts, and getting out from under a C & D is big step

    Cons

    Middle manage is same fools that allowed firm to fail, allworried that Thain will get rid of them he seems to have given them a chance to get on board, but most are just worthless self important over paid spinners

    Advice to Management

    Get rid of the nest of Snaks you have as P&L leaders and back up the CCO

  11. Helpful (1)

    Grab a life jacket as the CIT ship has BIG holes and the ride will be rough!

    • 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 (More than 8 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    1) Immediate colleagues, though numbers have been dwindling due to numerous RIFs
    2) Decent benefits and telecommuting option
    3) Okay RIF package from what I have heard

    Cons

    1) Since emerging from bankruptcy, CIT has been trying to act like a bank with limited success.
    2) Too many MDs/Directors and not enough people who do substantive work.
    3) Compliance has been heavily staffed up, but business lines have experienced numerous RIFs.
    4) Cumbersome and idiosyncratic credit process that is slow to react to market changes.
    5) Extremely low employee morale due to continuous RIFs, reorganizations, merger rumors, portfolio sell-offs, etc.
    6) Very limited career advancement opportunity based on who you know rather than what you know.
    7) Antique IT systems.

    Advice to Management

    1) Concise and substantive credit proposals should be the norm rather than lengthy check-the-box dissertations.
    2) While it may be easy for credit to say no, that is not conducive to generating income when we are already so light on assets.
    3) Propose rational credit enhancements/structural changes rather than idealistic wish lists that are out-of-sync with the market.

Work at CIT? Share Your Experiences

CIT

 
Click to Rate
or

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