CIT

  www.cit.com
  www.cit.com

CIT Reviews

Updated December 15, 2014
Updated December 15, 2014
139 Reviews
3.0
139 Reviews
Rating Trends

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

Review Highlights

Pros
  • Depending on which department you are in, you usually have a great work life balance (in 16 reviews)

  • Good benefits package and reasonable work/life balance depending on role (in 15 reviews)


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

Employee Reviews

Sort: Popular Rating Date
  1.  

    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)

    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.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2. 1 person found this helpful  

    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 an year)

    Pros

    Great employees who work hard

    Cons

    Belief that current employees don't have the skills needed

    Advice to ManagementAdvice

    Trust your employees to get the job done

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  3. 2 people found this helpful  

    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)

    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.

    Doesn't Recommend
    No opinion of CEO
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5.  

    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)

    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 ManagementAdvice

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

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  6. 1 person found this helpful  

    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)

    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 ManagementAdvice

    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.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7.  

    New management does not care about loyal long-time employees

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • 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 full-time (more than 8 years)

    Pros

    Salary, benefits, and vacation were good

    Cons

    Top management is systematically purging all of the loyal employees who kept the company going through bankruptcy, taking on multiple roles and stepping up to get the job done. This will eventually haunt them when the economy picks up and the brain drain is controlled by the employees not management.

    Advice to ManagementAdvice

    Be faithful to those that run the business day-to-day and treat them with some respect.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8.  

    Old culture environment

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

    I have been working at CIT

    Pros

    Salary is not bad..
    cheap cafe food.

    Cons

    stuck in the 1970s mentality
    lack of communication from senior management

    Advice to ManagementAdvice

    Need to motivate workers.

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

    Culture of disrespect by certain people in management makes it uncomfortable especially for new employees.

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

    I worked at CIT

    Pros

    Pay, Location, Experience working for finance co. in NYC. Some nice colleagues.

    Cons

    Poor onboarding procedures. HR not helpful. Technology always on the blink. IT dept in need of serious overhaul. Pray you get a respectful boss. Mine was hellish.

    Advice to ManagementAdvice

    Management should take a look at the staff turnover in certain departments. There must be a reason why certain positions are vacated so frequently.

    No opinion of CEO
  10. 1 person found this helpful  

    My overall experience was poor. Management is weak and biased.

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

    I have been working at CIT

    Pros

    The company has excellent benefits. They still provide 100% match for 401-k plans and they also have an excellent tuition reimbursement plan.

    Cons

    There are no opportunities to move outside the business unit and no support by management for career growth.

    Advice to ManagementAdvice

    Hire managers that have the ability to manage people in addition to being subject matter experts.

    Doesn't Recommend
    No opinion of CEO
  11. 1 person found this helpful  

    Culture of disrespect in certain departments/divisions

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

    I have been working at CIT

    Pros

    For those who live near Livingston, NJ, it's an easy commute. Vacation time and benefits are good. Some managers are effective.

    Cons

    In some groups, there are high value employees who do superior work at 100% effort, and others who simply show up and take up space, and the reaction by management is the same to both. No raises for anyone in 2011 and little recognition or respect by individual managers for the better employees. Subpar technology and facilities.

    Advice to ManagementAdvice

    It's demoralizing for good employees when excellence is not recognized by their immediate managers and minimal work by coworkers is tolerated. Top performers are going to leave, or dial down their effort , if they aren't rewarded and have to keep pulling the weight of lax colleagues.

    Approves of CEO

CIT Photos

CIT Aerospace
Company Flag

+ Add Photo

Work at CIT? Share Your Experiences

CIT

 
Click to Rate
or

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