CIT

  www.cit.com
  www.cit.com
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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

140 Other Employee Reviews for CIT (View Most Recent)

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  1. 1 person found this helpful  

    stagnant. Oppresive working atmosphere.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Originations in Jacksonville, FL
    Current Employee - Originations in Jacksonville, FL

    I have been working at CIT full-time (more than 8 years)

    Pros

    decent med and dental benefits. Nice coworkers. Good central location in Jax Fl. Decent shift work. Close to shops and restaurants.

    Cons

    Low morale. Little or no advancement opportunities. Absentee mgmt. Bonuses unfairly distributed.

    Advice to ManagementAdvice

    To Corp in NJ I say start fresh with Jax mgmt from top to bottom. Train your mgrs. Stop tge nepotism in hiribg and promotion process. Fire HR Mgrs. Curent staff does not want to get involved in employee complaints. They rat you out! You get black-balled.

    Doesn't Recommend
    Negative Outlook
  2. 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
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