CIT

  www.cit.com
  www.cit.com

CIT Reviews

Updated 17 October 2014
Updated 17 October 2014
140 Reviews
3.0
140 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
CIT Chairman and CEO John A. Thain
John A. Thain
66 Ratings

Review Highlights

Pros
  • Depending on which department you are in, you usually have a great work life balance (in 16 reviews)

  • Good benefits package and reasonable work/life balance depending on role (in 15 reviews)


Cons
  • Senior management is not in touch with all of the businesses (in 8 reviews)

  • this was once a good company but senior management team broke it and continue to drive this ship in the dirt with reckless abandon (in 5 reviews)

More Highlights

18 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1. 3 people found this helpful  

    Horrible Company

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at CIT

    Pros

    Really can't think of any other than the benefits. Nothing good to say about this company.

    Cons

    This company has been under a constant restructure since I started working there in 2008. Management keeps putting employees in new positions without giving them a choice in the move. They can't get any process to work so they keep switching gears while putting the employees thru hell. The pay is lower than other companies. Corporate politics and culture is highly toxic. Management fuels a hostile work environment.

    Advice to ManagementAdvice

    Close the doors go out of business since that is where you are heading.

  2. 2 people found this helpful  

    Poor environment where people are not valued, only the perception on the street is valued

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

    I have been working at CIT full-time (more than 10 years)

    Pros

    Pay - they overpay their new employees

    Cons

    -management would rather see employees leave then reward existing employees
    -no career path
    -constantly starting new projects without managing capacity
    -only focusing on the present, no long-term view and no leadership skills on the management team

    Advice to ManagementAdvice

    Abandon the acquisition strategy and focus on people and processes. Without fixing the core problems, CIT will always be a mediocre company at best.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3.  

    Was a good place to work for may years but last 12 month were very difficult due to wind down of operations

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Legal in Livingston, NJ (US)
    Former Employee - Legal in Livingston, NJ (US)

    I worked at CIT full-time (more than 5 years)

    Pros

    Due to wind down there are currently no pros.

    Cons

    Company n wind down, therefore no opportunities.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
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  5.  

    Nice People! But a very unpleasant place to work!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Vice President in New York, NY (US)
    Former Employee - Senior Vice President in New York, NY (US)

    I worked at CIT full-time (more than 5 years)

    Pros

    There are none! Most of the people there are very nice. But there is not much else to say!

    Cons

    1) The corporate culture is awful
    2) There is little to no employee development, continuing education, training etc.
    3) The firm's offices are 20 years out of date and the office equipment and offices are a wreck. The carpets are stained everywhere.
    4) The firms technology, systems and infrastructure is pitiful. There is a high turnover in the technology group.
    5) Each of the operating units is run like it is a separate company and there is little synergies, coordination or cooperation.
    6) There is little ambition among employees. It seems that many stay for a few years until something better comes along
    7) The firms finance, risk, credit and other policies and procedures are very outdated.
    8

    Advice to ManagementAdvice

    I think John Thane and Scott Parker need to rip the firm apart and rebuild it from the ground up. What they have now is very broken and unfixable!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6.  

    All about facetime

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Human Resources in Livingston, NJ (US)
    Former Employee - Human Resources in Livingston, NJ (US)

    I worked at CIT full-time (more than an year)

    Pros

    CIT is a large global financial institution across several markets--good opportunities to grow. Headquarters are in NJ but in NYC as well.

    Cons

    All about the facetime - work life doesn't matter to mgmt as this company is typically a vacation away from the more competitive banking. While everyone has laptops, old school mgmt looks down if there are empty seats at 6 pm even on Friday nights in the summer

    Advice to ManagementAdvice

    Need a better career proposition to keep strong talent other than ' these hours are better then Merrill'

    Doesn't Recommend
    No opinion of CEO
  7.  

    this company is broken.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - IT Consultant in Livingston, NJ (US)
    Current Employee - IT Consultant in Livingston, NJ (US)

    I have been working at CIT as a contractor (more than 8 years)

    Pros

    -good cafeteria - good food and good people work there.
    -foosball table.

    Cons

    -no moral compass.
    -the good people have left already or are leaving.

    -this was once a good company but senior management team broke it and continue to drive this ship in the dirt with reckless abandon.

    Advice to ManagementAdvice

    “...people will forget what you said, people will forget what you did, but people will never forget how you made them feel.”

    ― Maya Angelou

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8.  

    Worst IT experience and work environment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - IT Consultant in Livingston, NJ (US)
    Former Employee - IT Consultant in Livingston, NJ (US)

    I worked at CIT as a contractor (less than an year)

    Pros

    Seriously can't think of anything. Maybe the onsite cafeteria

    Cons

    Upper management does not listen to recommendations or potential road blocks for projects. The transition within IT was not well planned. Internal dept communication is terrible as well as overall direction. This is pretty much the worst work experience I have had.

    Advice to ManagementAdvice

    Change the overall leadership and try again.

  9. 4 people found this helpful  

    Experience depends on the department

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - IT Developer in Livingston, NJ (US)
    Current Employee - IT Developer in Livingston, NJ (US)

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

    Pros

    Great Leadership if you are in the finance departments. John Thain really is a visionary and brilliant manager. Good salaries and flexible work/life balance in general.

    Cons

    Terrible IT leadership. The CIO brought in 10 managers from UBS to secretly offshore/outsource the IT staff. They are killing morale and destroying the ability of the IT staff teams to deliver on any projects. One manager is dumber than the next and they are only focused on their bonuses. I've never worked for a company where EVERYONE in IT that wasn't a manager was looking for a job - It's incredible and really sad since you have some great people in the organization.

    Also very tough for women to work under this crew. They really think it's 1970 - You wouldn't believe the wildly inappropriate comments that come out of this UBS crew.

    Advice to ManagementAdvice

    Fire the lot of them and put in IT management that actually cares about the overall corporate goals and isn't trying to get around labor laws by driving out the existing staff.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  10. 1 person found this helpful  

    No direction - bad place for women

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President in New York, NY (US)
    Current Employee - Vice President in New York, NY (US)

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

    Pros

    Great mid-level management team. Good benefits package and reasonable work/life balance depending on role.

    Cons

    No strategic direction. Disturbingly high number of senior executives without requisite skill set to perform effectively. Token female representation in leadership team. Senior women often pushed aside to provide development opportunities for men. In general, lip service paid to employee development.

    Advice to ManagementAdvice

    Executive management needs to be rebalanced with experienced bank managers.

    Recommends
    Negative Outlook
    Disapproves of CEO
  11. 1 person found this helpful  

    Hostile IT work environment in survivor mode.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Vice President in Livingston, NJ (US)
    Former Employee - Vice President in Livingston, NJ (US)

    I worked at CIT full-time (more than an year)

    Pros

    My particular group was fantastic, but almost all either left or were let go. The only good news is that they gave me an excellent package and large bonus, but I can only assume that this will be changed soon, so don't count on it. The new CIO brought in some good directors, but let all the worker bees go. Now what did that cost?

    Cons

    The IT department is a hostile work environment. There are people there who can only be described as needing medication. Processes date from the 80's. There is a Mainframe mentality. May I quote : "What's wrong with mainframe?". This company is in survivor mode after going through a bankruptcy.

    Advice to ManagementAdvice

    Do some 360 feedbacks. You have not got a clue who your best people are and are not.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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