RAIT Financial Trust Reviews | Glassdoor

RAIT Financial Trust Reviews

Updated January 15, 2017
11 reviews

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Full-time Part-time

2.9
Star Star Star Star Star
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Scott F. Schaeffer
5 Ratings

11 Employee Reviews

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  1. Helpful (4)

    "Treats employees like disposable pawns."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Leasing Consultant in Memphis, TN
    Former Employee - Leasing Consultant in Memphis, TN
    Doesn't Recommend
    Negative Outlook

    I worked at RAIT Financial Trust full-time (Less than a year)

    Pros

    Nothing comes to mind. When you first get hired, it might seem like a decent company, but after about a month or two it will become very apparent that they are incompetent and overly demanding.

    Cons

    Shady business practices that led to a multi-million dollar FEC settlement. Upper management seems to not be on the same page with each other. One person will tell you one thing, then another person will come along with something completely different. They have recently acquired an outrageous number of residential properties, which is causing a lot of problems associated with expanding too quickly. Many of the properties had problems during the acquisition that falls on the corporate management teams, but they have fired the on-site teams instead of realizing that it is a systematic failure at the corporate level. When they acquired properties in Little Rock, they fired the whole staff without even interviewing them or telling them that they would not be hired. The previous ownership said that it was some of their best employees, yet RAIT decided to let them find out they would not be hired from the mouth of their replacements.

    Advice to Management

    Slow down, get it together, realize that your employees are what makes you strong and not the other way around.


  2. Helpful (2)

    "BEWARE!!"

    Star Star Star Star Star
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook

    I worked at RAIT Financial Trust full-time

    Pros

    Nothing! Nothing! Not a thing!!!

    Cons

    Offered me a job and I gave my 2 week notice at former employer. The day I am going to start the recruiter calls me and they pull offer back. So now I have no Job and No income!! This is really a great place! I won't mention names to who pulled this off but just stay away!!

    Advice to Management

    Act like a professional Company and don't pull this CRAP!!


  3. Helpful (4)

    "Cliquey Culture/Glass Ceiling"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Commercial Real Estate Analyst in Philadelphia, PA
    Former Employee - Commercial Real Estate Analyst in Philadelphia, PA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at RAIT Financial Trust full-time (More than 3 years)

    Pros

    Great place to work if you one of the "made guys" that knows the owner.

    Cons

    As a whole, not a particularly talented group. RAIT was spun off from Resource America. Resource basically stuck their laggard employees at RAIT. The senior level managers all know the owner. They are referred to as the "made guys." As a result, the office is very cliquey. They hire their friends and relatives and bring them into the made guy fold. The made guys will make ZERO effort to speak to you or get to know you. If you are not a made guy you will be treated like a serf. The conduct of some senior level managers goes unchecked. Some managers bully their employees, and keep them on defense at all times. They bad mouth former employees.

    Advice to Management

    Maybe start hiring and promoting based on merit? I know, an abstract thought...


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  5. Helpful (3)

    "Think of Employees Needs"

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

    I have been working at RAIT Financial Trust full-time (More than a year)

    Pros

    Most holidays are given to employees

    Cons

    Lack of communication; diversity and oppostunity. executive team isn't interested in building solid teams

    Advice to Management

    Listen and recognize your employees


  6. Helpful (1)

    "Great people, great environment"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Philadelphia, PA
    Current Employee - Anonymous Employee in Philadelphia, PA
    Recommends
    No opinion of CEO

    Pros

    Great group of people, working hard to make things work, with a high level of respect for work and life balance.

    Cons

    The company is still facing headwinds due to funding challenges in the capital markets. Management has been very good about dodging the bullets, but could do a better job laying out the future of the company to employees.


  7. Helpful (1)

    "Good life/work balance."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Executive Assistant in Phila, PA
    Current Employee - Executive Assistant in Phila, PA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at RAIT Financial Trust full-time (Less than a year)

    Pros

    Very friendly staff and family oriented; good work/life balance

    Cons

    A lot of employees have been here for years and act like a tight group. Being new can sometimes feel uncomfortable because everyone knows everyone except you and you may sometimes feel like you're intruding on their time together because they are so close

    Advice to Management

    Be more open to letting people in


  8. Helpful (3)

    "One of The Best Places to Work!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Underwriting in Philadelphia, PA
    Former Employee - Underwriting in Philadelphia, PA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at RAIT Financial Trust full-time (More than 5 years)

    Pros

    Very family oriented friendly people. Very Mom-friendly in terms of schedule flexibility. Great work-life balance. Lots of perks. I found it very impressive with how senior management was able to manage this firm quite well through a tough financial market. have nothing but optimistic outlook on the future of this company. Very inspiring group of people. Encouraging work environment.

    Cons

    The company is pretty small therefore it's very hard to move up. Career-wise you'll start to feel stuck after a few years. Much office politics, very male dominated culture. There are absolutely no women in senior level positions at this company.


  9. "Entry level analyst in the rotational program"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Commercial Real Estate Analyst in Philadelphia, PA
    Current Employee - Commercial Real Estate Analyst in Philadelphia, PA
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at RAIT Financial Trust full-time (More than a year)

    Pros

    Good company culture, reasonable hours, great benefits. If you work decently hard, you can get all your work done between 8:30 and 6.

    Cons

    Lower end entry level salary. The analyst program is highly beneficial and you will learn a lot, but it is disorganized, and you might not know when you will switch departments.

    Advice to Management

    Make the program more organized by mapping it out for the analysts. Clear timelines and goals would be beneficial for all parties.


  10. "Great Atmosphere"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Approves of CEO

    Pros

    Great place to work and a lot of outlets to help you.

    Cons

    Salary employees work very long hours in order to complete everything expected.


  11. Helpful (2)

    "Family oriented employee friendly company."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Servicing Specialist
    Former Employee - Loan Servicing Specialist
    Approves of CEO

    Pros

    RAIT is an employee friendly company. The companies corporate culture does value a balance between work and life. When able the company is more than willing to reward employees for a job well done.

    Cons

    With the smaller employee base there are not many opportunities for advancement. Many employees have been with the company for a long time and so there is less of a chance to move up.

    Advice to Management

    There is a need for better communications between departments. Operational decisions need to be precise in meaning and distributed in writing so that all departments will be using the same guidelines.



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