There are newer employer reviews for CIT
There are newer employer reviews for CIT

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CIT post Bankruptcy

  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
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

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  1. Helpful (1)

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

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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.


  2. Helpful (1)

    Good Company..If you like doing one thing.

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

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

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

    Pros

    Good location, Nice people, relaxed enviornment. Competitve salaries for the area. Workload is spread out and divided equally.Decent benefits package. A lot of different departments that you can move to If you want to expand and/or change career paths.

    Cons

    All work is done and managed by a seperate department, which makes it hard to expand your skill set for other things. Managment needs to have more communication with the employees to give the workers a better idea of the direction that the company is trying to take. CIT is a good place for older employees who are looking for a place to make money and ride into the sunset into retirement. For a young person who wants to grow and learn this is not the company for you. Stay away.

    Advice to Management

    Communicate better with your employees because it will make them feel more apart of the vision of the company.


There are newer employer reviews for CIT
There are newer employer reviews for CIT

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