CIT

  www.cit.com
  www.cit.com

CIT Reviews

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

Recommend to a friend
Approve of CEO
CIT Chairman and CEO John A. Thain
John A. Thain
66 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

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  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

    I have been working at CIT

    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

    I worked at CIT

    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

    I worked at CIT

    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

    I have been working at CIT

    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

    I have been working at CIT

    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. 1 person found this helpful  

    Risk Analyst

    • 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

    1) In Flux
    2) Work Life balance
    3) Bonuses

    Cons

    1) Bureaucratic
    2) Political
    3) Myopic
    4) Analysis Paralysis
    5) Incompetent

    Advice to ManagementAdvice

    Layoff people in overstaffed departments.

    Recommends
    Positive Outlook
    Approves of CEO
  8.  

    The company is defined by the wonderful people with whom you work

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at CIT

    Pros

    Great employees with good intent.

    Cons

    The company has no clear vision that can be articulated by the staff. Too many layoffs has depleted the enthusiasm of its wonderful employees.

  9.  

    manager

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

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

    Pros

    High quality workers, very respectful

    Cons

    trend is to request a more difficult work load

    Recommends
    Negative Outlook
    No opinion of CEO
  10.  

    Good corporate lender, lacks the culture to be competitive in investment banking.

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

    I worked at CIT

    Pros

    Strong industry knowledge, good private equity relationships.

    Cons

    Timid calling officers and corporate culture.

    Disapproves of CEO
  11. 2 people found this helpful  

    Nice place to work if you just want a job

    • Comp & Benefits
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at CIT

    Pros

    Good work life balance. Hours are reasonable.

    Cons

    The company is trying to move all it's jobs to JAX Florida. So if you are working in NY or NJ chances are they will not promote you or provide you opportunity for job growth as every new position is moving down to Florida where it is cheaper.

    Advice to ManagementAdvice

    Your employees see what is happening and are moving to cruise control waiting for their packages

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