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

Sort: Popular Rating Date
  1.  

    Was a great company to work for several years ago.

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at CIT

    Pros

    At one time seemed very interested in development, training, and advancement of employees. May not be too far gone to get some of that back.

    Cons

    In the past year or two, Integrity and honor seems to have been replaced by the typical big bank "everyone is replaceable at any moment for any reason" stance. Pays well but certainly isn't a stable work environment.

    Advice to ManagementAdvice

    Nothing. The decisions coming from executive row seem to be made in a vacuum, at least with regards to working conditions or employee relations.

  2.  

    A casualty of Cost Cutting

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

    I worked at CIT full-time for more than 10 years

    Pros

    Great Co workers, 401k contribution and in my former department flexible work hours

    Cons

    Management does not care about worker bees anymore

    Advice to ManagementAdvice

    Get rid of highly paid senior managers and save the people who do the work.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  3.  

    15 year employee - good experience

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Director  in  New York, NY (US)
    Current Employee - Director in New York, NY (US)

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

    Pros

    Good compensation, flexibility in working arrangements

    Cons

    Not great on the vision thing; business model needs work.

    Advice to ManagementAdvice

    HR runs the place - is that how you really want to roll?

    Recommends
    Neutral Outlook
    No opinion of CEO
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  5. 1 person found this helpful  

    More interested in "not losing" than in "winning".

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

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

    Pros

    This is a great place to work if you want to have good benefits, a nice cafeteria, and very little challenge in your work. Would be good for employees of the DMV, for example. Only exception is Transportation business, which is a great business full of great employees working extremely hard to lead and innovate. Without Transportation, this firm would be a distant memory.

    Cons

    Systems are antiquated and there is no money for investment. The business are old, low risk, low return, and dying on the vine. Leadership is more interested in risk and compliance than in actually doing business, and after all the mistakes that have been made by the firm, they are more interested in making sure that investors are happy than whether its a good firm. Employees are either brand new and amazed at how backward the place is, or have 20 years experience and have completely forgotten how to work.

    Advice to ManagementAdvice

    Take some risks!!! This firm is incredible - there are Risk people everywhere, but the firm takes no risk. It's beyond bizarre.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6. 2 people found this helpful  

    A company on the rise with strong history

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

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

    Pros

    Small company, good culture and people, good benefits, less stress than other New York Bank Holding Companies.

    Cons

    This is a 100 plus year old firm which is in transition. the business is growing, evolving and this can be a challenge for staff.

    Advice to ManagementAdvice

    Remember the core values on which the firm was based while focusing on employees - great and satisfied employees will make the firm succeed; overlooked and underpaid employees will do the opposite.

    Recommends
    Positive Outlook
    Approves of CEO
  7.  

    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 for 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
  8. 3 people found this helpful  

    It was the most toxic, compliance driven company I have ever worked for in my 20 year career

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

    I worked at CIT full-time for more than a year

    Pros

    Pay is decent, good 401k. Free parking. Some really good people.

    Cons

    Those really good people suffer on an every day basis. Leadership very impressed with themselves but in reality are weak. HR has no credibility.

    Advice to ManagementAdvice

    Blow up the HR dept. Start at the top

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9. 1 person found this helpful  

    Good Team

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

    I have been working at CIT full-time for more than a year

    Pros

    Great people, reasonable hours (not IB hours)

    Cons

    CIT has terrible IT systems

    Advice to ManagementAdvice

    None

    Recommends
    Positive Outlook
    Approves of CEO
  10.  

    Treasury

    • Comp & Benefits
    • Work/Life Balance
    • 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 8 years

    Pros

    It was a finance job in NJ

    Cons

    It was never the same post bankruptcy

  11. 1 person found this helpful  

    Great experience, but limited mobility

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

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

    Pros

    Great work life balance. Great learning experience provides strong foundation.

    Cons

    Limited mobility, both upward and lateral.

    Advice to ManagementAdvice

    Support cross functional development of employees and open avenues for advancement.

    Recommends
    Neutral Outlook
    Approves of CEO

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