CIT Reviews | Glassdoor

CIT Reviews

Updated November 22, 2016
46 reviews

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Ellen Alemany
7 Ratings

46 Employee Reviews

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Pros
Cons
  • No real management direction, no accountability from senior management (in 16 reviews)

  • No flexibility, work life balance barely exists in some departments (in 6 reviews)

More Pros and Cons

  1. "I've heard they're getting better..."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend

    Pros

    Some good people still there.

    Cons

    Mgmt was pretty dense back then, but I've heard better things in the past year.


  2. Helpful (3)

    "Workplace has degraded"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - IT Staff in Newark, NJ
    Current Employee - IT Staff in Newark, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at CIT full-time (More than 5 years)

    Pros

    CIT has some really good people, although the really good ones are heading for the door as fast as they can

    Cons

    Management has unreasonable expectations
    The last CIO wasted a lot of of funding on boondoggle projects and bringing in high-priced cronies
    It used to be a better place to work
    It appears they are getting ready to put the entire firm up for sale, selling off tangent businesses
    For the most part, IT and the business are dysfunctional, drowning in red-tape, over-cautious risk staff, and antiquated paper-based processes
    CIT struggled moving from a SOX company to a Bank Holding company
    They will surely drown under the regulation of being a SIFI

    Advice to Management

    It might be too late


  3. Helpful (6)

    "Horrible, unprofessional establishment"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Relationship Associate in Palm Desert, CA
    Former Employee - Relationship Associate in Palm Desert, CA
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I worked at CIT full-time (Less than a year)

    Pros

    Benefits , hourly Wage , there isn't many pros to working at CIT/one West Bank . I would not recommend this company to anyone.

    Cons

    Management , techniques , the antiquity of their systems , HR . I would not recommend this establishment to anyone.


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  5. Helpful (9)

    "Don't take a job here unless you have no other options"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Livingston, NJ
    Former Employee - Anonymous Employee in Livingston, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at CIT (More than 3 years)

    Pros

    None that I am aware of

    Cons

    While CIT has not been a good place to work for quite some time, this year senior management seems to have a goal of making life as difficult as possible for employees, especially any brave enough to question the corrosive status quo. Failing senior leaders exited last fall with golden parachutes worth millions while employee benefits were cut. Current leadership seems to want as many people as possible to leave on their own so they won't have to pay severance. The brain drain began earlier this year and continues. This company with a 100-plus year history is in shambles.

    Advice to Management

    Stop mistreating your employees; you need to keep your talented and experienced employees from leaving if you have any hope of turning this ship away from the iceberg.


  6. Helpful (6)

    "Analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    There are no Pros for this company. The turnover with leadership is high. Management is not concerned with the morale of their employees.

    Cons

    Management does not take accountability. They blame others for their mistakes. The company is in shambles.

    Advice to Management

    Get your act together. Hire managers who are qualified and are accountable. Listen to your employees and empower them.


  7. Helpful (11)

    "Lack of Leadership From The Top Down - Avoid CIT Until Something Changes"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    While overall, the benefits are fair, the salaries are at the low/middle range for the region and job function and that cannot being to make up for the fact that the overall culture of CIT is terrible. The Portsmouth office is perhaps the only bright spot, that said, it won't be long before the oppressive CIT hammer pounds the life out of what was a truly nice place to work. Visit other offices and if feels like '1984'. Its heads down and stay anonymous.

    Cons

    The corporate culture of CIT may be among the worst I have ever experienced. It is extremely political with most of the middle tier of management (VPs and Directors) sucking up to the higher ups and either taking credit for their team's work or backstabbing up and comers at any opportunity.

    There is no concept of Win-Win and collaboration is lacking. If you're brave enough to voice an alternate opinion you'll be vindictively marginalized, sidelined, perhaps reassigned, or 'reduction in force' out of the company - unless you leave first. The philosophy tends to lead to an 'obey and do what I say' culture as opposed to identifying new ways to accomplish your work and be productive.

    Perhaps even worse is the lack of real management and leadership experience to achieve the tech goals leadership wants. Instead of listening to those who know, the 'traditional banking' approach dominates. This leads to constantly shifting prioritizes, daily fire drills, weekly shuffling of staff and resources - it is amazing that anything gets done and why initiatives take so long if they ever do get completed. These leads to a poor work-life balance. It is not uncommon for late nights, weekends - all the result of poor planning and subpar leadership.

    Sadly CIT has become the old school bank that is represented in the memes we all see: Overly political, greedy management, stiff and lacking in the ability to be innovative (they want to be creative but the management and leadership have drained the life out of the best contributors).

    Advice to Management

    Management, from the executive suite to the director/SVP level should understand that its employees are not just printed names on a piece of paper, they are actually real human beings that once cared about doing a good job - and without engaging your best talent you will fail in the company's strategic goals. Start by valuing your people, paying them a fair wage and encouraging dialog and discussion. Adopting an old school bank mentality will not allow you to achieve your tech goals.

    Finally, it is terrible that large bonuses were paid to departing executives at the same time as benefits for regular employees (401k match, etc.) were cut. This just screams GREED.


  8. Helpful (4)

    "CIT Livingston NJ"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook

    I worked at CIT full-time

    Pros

    Commute - for those that live in the vicinity which contributes to work/life balance.

    Cons

    Poor compensation, poor benefits, employees are treated as numbers (dollar amount and headcount), managers only manage up, lack of communication.

    Advice to Management

    Don't only manage up. Develope your staff. Communicate to your staff, don't keep them in the dark.


  9. Helpful (6)

    "Run as fast as you can"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    Current Employee - Anonymous Employee in Livingston, NJ
    Current Employee - Anonymous Employee in Livingston, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at CIT (More than 3 years)

    Pros

    Still looking for one... Yet to be found.

    Cons

    Completely dehumanizing place to work. Management sends condescending emails to the entire firm about performance. Blanket statements like banishing work from home. The latest is that they threw away all the plants in the office, including employee's personal plants. They have no respect for you as a person with a life outside of work. If you're out when they need something and you turn around and come back, that is still not good enough they threaten to fire anyone who is not immediately responsive regardless of where you are or what you're doing to their calls. Management also loves a good rumor and if you show any weakness they pounce. Total Lord of the Flies type of crap. I have worked in a handful of companies in my 15 years and this is by far the absolute worst place I have worked by miles.

    Advice to Management

    Ask your mommy what the golden rule is because you've seem to have forgotten.


  10. Helpful (4)

    "Director"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Director in Jacksonville, FL
    Former Employee - Director in Jacksonville, FL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at CIT (More than a year)

    Pros

    Solid compensation and benefits opportunities

    Cons

    Too much executive churn and no clear strategic direction articulated.

    Advice to Management

    Communicate a clearly articulated strategic plan and share it with the whole firm and then have each group create goals around those initiatives and reward teams based on attainment of goals.


  11. Helpful (6)

    "90's flashback"

    Star Star Star Star Star
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at CIT full-time

    Pros

    location was close to the mall, the cafeteria food was fresh and pretty good. computers were outdated.

    Cons

    Interior looked liked it was from the 90's, dingy, bland and prison-like. Cubicles and offices were outdated. Not enough bathrooms or water resources to accommodate everyone.

    Advice to Management

    better benefits and more flexible work options.



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