CIT Reviews

Updated 13 September 2014
Updated 13 September 2014
121 Reviews
2.6
121 Reviews
Rating Trends

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

Review Highlights

Pros
  • Depending on which department you are in, you usually have a great work life balance (in 11 reviews)

  • Good benefits package and reasonable work/life balance depending on role (in 14 reviews)


Cons
  • Senior management is not in touch with all of the businesses (in 7 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 4 reviews)

More Highlights

Employee Reviews

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  1. 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 for 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
  2.  

    Broken Model

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

    I worked at CIT full-time for more than 3 years

    Pros

    Good hard working middle level people

    Cons

    Broken business model, lack of clear leadership, all tactical no strategy

    Advice to ManagementAdvice

    Sell

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3. 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 for 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
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  5. 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 for more than a 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
  6. 1 person found this helpful  

    Good Company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at CIT

    Pros

    Management listened to workers ideas

    Cons

    Inter office politics can be a problem

  7. 1 person found this helpful  

    Great Company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Intern  in  Jacksonville, FL (US)
    Former Employee - Intern in Jacksonville, FL (US)

    I worked at CIT as an intern for less than a year

    Pros

    Well-paid for an intern, great experience, very good management.

    Cons

    Some of the people are difficult to work around.

    Advice to ManagementAdvice

    Bring in more effective employees for operations. Difficult to work while so many employees are so negative toward/about one another

    Recommends
    Positive Outlook
    Approves of CEO
  8.  

    Just another paycheck

    • 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 for more than 10 years

    Pros

    Flexible work hours, really nice cafeteria...that's about it. Oh, if you're in the right department, and know the right people, and say the right things, you could do OK.

    Cons

    From the tech dept. perspective. Too many consultants who are only interested in their current position and will leave the second something higher paying comes along. No long term outlook. Constantly shifting goals. Lots of layoffs, it has been almost a constant several times a year for the last five years. No one there that is over 30 actually does work anymore, they all direct "offshore" people. Onerous paperwork and regulations. Almost seems like you have to fill out a form to use the rest room. There's more, but I won't bother.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9. 2 people found this helpful  

    A changing culture

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

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

    Pros

    Generally speaking, good, hardworking people. Financial Analysts get solid exposure to all levels within their business, so a lot of on-the-job learning happens fast - a good growth opportunity. Bonuses in the Corporate Finance segment are generally pretty good. Managers are usually good about work-life balance. Company came through bankruptcy and has a high-profile CEO who can get a seat at most any table in the finance and political world. Generally good benefits package, though it's being whittled away a bit.

    Cons

    Promotions hard to come by. Salaries not always equitable among peers. While there are opportunities for internal mobility, good luck getting a raise; significant downward pressure on salaries, so while an external hire might get a 10% hike over their last base, an internal might get 0-4%. New crop of Exec-level leaders are turning a formerly-familial culture into a sterile, not-fun culture. Cultural silos exist from location to location.

    Advice to ManagementAdvice

    Be more transparent and communicate better. Invest in your employees.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10. 1 person found this helpful  

    Great team environment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at CIT full-time

    Pros

    Great culture
    Ability to work for and with highly skilled individuals
    Merit driven appreciation, not political
    Employees treated with respect, equitable
    High growth potential
    Overall great place to work and grow professionally

    Cons

    Operations could be more efficient, updated
    Funding resources

    Advice to ManagementAdvice

    Help streamline process and execution. You have outstanding employees. If you can give them the tools to drive faster execution, sky's the limit for CIT.

    Recommends
    No opinion of CEO
  11.  

    Great place to work, Worst place to earn money

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Software Engineer  in  Campinas, São Paulo (Brazil)
    Current Employee - Software Engineer in Campinas, São Paulo (Brazil)

    I have been working at CIT full-time for more than 3 years

    Pros

    Here I can learn a lot of technologies
    The colleagues are friendly
    The leaders are always with the teams

    Cons

    Sometimes the salary policy is confusing
    The profit sharing is a joke
    On the last year, the company lost a lot of good professionals by a lack of clarity in strategic decisions (salary, career planning, technologies, projects and investments in education)
    There is a disparity between what is said and what is done. Leaders ask for certifications, courses, availability and other languages​​, but don´t give opportunity to exercise these skills. The good opportunities are for those who are nearby the leaders.

    Advice to ManagementAdvice

    You have to valorize those that really done something for the company and the projects, not to those just want enjoy the opportunity to improve the salary.

    Recommends
    Neutral Outlook
    Approves of CEO

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