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

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Worthwhile until hard times hit

  • Comp & Benefits
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Anonymous Employee
Former Employee - Anonymous Employee

I worked at CIT

Doesn't Recommend
Approves of CEO
Doesn't Recommend
Approves of CEO

Pros

Compensation and benefits initially were very good. Vacation time is very good.The regular people are easy to work with.

Cons

Forget about getting respect. Managers don't even say good morning to you. Long term employees were layed off and told they wouldn't get the packages they were entitled to because the company was "In Distress". That went over real well with long term employees that had been priced out of the market place. They mislead clients whenever they get the chance. The level of professionalism in upper management is non-existant. The workers are blamed and always left to clean up the messes upper management makes.

Advice to Management

Treat people which are your most valuable resource like human beings and stop lying to your clients. Thain is trying to get the mess he inherited turned around. Hopefully he will bring the company out from under the Federal Reserve rules and requirements which was a mistake.

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  1. Compensation makes it difficult to leave

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at CIT

    No opinion of CEO
    No opinion of CEO

    Pros

    Bonus and base salary are higher than average for my particular background. Vacation policy is better than the norm. Easy access to major highways from HQ.

    Cons

    No chance for promotion. Openings are filled with outsiders. Many long term employees had their savings wiped out by bankruptcy. No raises for 3 of last 5 years has brought compensation more in line with competition so good people are starting to leave. Office is an embarrassment, old, broken furniture, lack of privacy making it difficult to concentrate on work. It appears that new management team is dressing company up for a sale.

    Advice to Management

    There are a lot of faithful employees who have stepped up to fill gaps left by the departure of those above them who have not been rewarded when the positions are filled. Start working on employee retention for your middle management and lower level workers before the economy improves and the company loses too many SMEs.

  2. Some very good, some very bad

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at CIT

    Disapproves of CEO
    Disapproves of CEO

    Pros

    the fellow employees and colleagues were great and what i miss the most from being there. the benefits were very good too

    Cons

    there was a complete mismanagement of risk and proactive management of the business. everything was reactionary and ultimately led to the bankruptcy

    Advice to Management

    Embrace diversity and new ways of doing things

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

See Most Recent

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