CIT
2.9 of 5 105 reviews
www.cit.com New York, NY 1000 to 5000 Employees

CIT Reviews

Updated Apr 17, 2014
All Employees Current Employees Only

2.9 105 reviews

                             

81% Approve of the CEO

CIT Chairman and CEO John A. Thain

John A. Thain

(43 ratings)

43% of employees recommend this company to a friend
105 Employee Reviews
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Review Highlights

Pros:
  • "Good salaries and flexible work/life balance in general"
    in 10 reviews
  • "Good benefits package and reasonable work/life balance depending on role"
    in 12 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
  • Show more review highlights

Reviews

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Disapproves of CEO

 

Good people, but management

Anonymous Employee (Current Employee)
New York, NY (US)

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

ProsThe people are fantastic! Really great, intelligent people.

ConsThe company is struggling with who they want to be and what the areas of focus are. Plus there is still a lot of apathy from bankruptcy. Senior management is not in touch with all of the businesses.

Advice to Senior ManagementPut the businesses first.

Yes, I would recommend this company to a friend

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Company continues to be in transition

Anonymous Employee (Current Employee)

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

ProsGood NY location, though NJ commute can be bad. High profile CEO and management team command outsized attention for a firm of this size. Much has improved since the 2009 bankruptcy.

ConsHR is terrible. No consistency in title, salary, promotion process. Management is extremely top heavy. Not really sure what everyone's jobs are or why there are so many C-level execs. Many execs seem to have agendas other than making CIT a great company. Communication internally is very bad. Many confused people about vision and direction of firm. Management seems aloof, at best. But more like they want to be somewhere else.

Advice to Senior ManagementSpend more time in the office with the people on the line. Communicate a clear vision for employees so they know what you are trying to achieve.

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2 people found this helpful  

Dedicated Staff, marginal management

Anonymous Employee (Current Employee)

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

ProsCoworkers band together despite frequent management replacements

ConsManagement still cannot get it right

Advice to Senior ManagementFind work in a different industry sector or planet.

– I'm not optimistic about the outlook for this company

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I do not consider CIT a world class Financial Services Organization

Anonymous Employee (Former Employee)

I worked at CIT full-time

ProsNothing to share. I do not have any pro's to speak of that were not personal in nature. Headquarters in NJ is convenient for many of the employees.

ConsEverything was second rate compare to other financial services companies. Compensation, career potential and the quality of management will never be at the same level of its competitors.

Advice to Senior ManagementDo not make committments to change and people that you cannot and will not keep.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Pressure-packed work environment

Vice President of Information Technology (Current Employee)
Livingston, NJ (US)

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

ProsGood work/life balance. Well-run cafeteria. Most people are nice and easy to work with. Good opportunity for on-the-job learning. Some directors go the extra-mile to make CIT a satisfying place to work.

ConsNot enough directors go the extra-mile to make CIT a satisfying place to work. No opportunity to learn new things, unless self-motivated and can squeeze it in. Those with talent are stretched too thin. Those that are less-motivated get away with doing the bare minimum. Some subordinates feel managers aren't in-touch, therefore those managers are not respected. Promises made by management are too often not kept. Managers that are sharp are not appreciated. Low employee morale. Lots of job-seeking going on. Plenty of complaints, bad language, bad attitudes, and behind-the-back-bad-mouthing. Goal setting policy is implemented like it was a forced government mandate rather than as a tool to develop talent. Politically correct surveys are a joke.

Advice to Senior ManagementRecognize the talent you have and reward it. Create a policy of regularly clearing out dead-wood. Implement a 360 degree feedback program.

No, I would not recommend this company to a friend

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No rewards or recognition for the hard working

Account Administrator (Former Employee)
Livingston, NJ (US)

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

ProsNice location to work in

ConsNo recognition, no raise or bonus unless your a boss's favorite

Advice to Senior ManagementTreat everyone the same and reward merit by job well done, not by who's your favorite

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Financial Industry Makes a Difference!

Vice President (Current Employee)
Livingston, NJ (US)

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

ProsTalented group of individuals who jointly collaborate to meet company goals.
Challenging, fast paced and a terrific place to grow, exceed and be recognized.
Excellent compensation package.

ConsRegulation requirements sometimes hinder overall success.
Leadership IT team is slightly top-heavy.
Advancement can be challenging.

Advice to Senior ManagementConsider conducting an internal assessment of human resources before going out into the marketplace to seek skills that might already exist in-house.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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A temporary employee through Kelly Services. Last year at employer 2009

Administrative Assistant (Former Employee)
Livingston, NJ (US)

I worked at CIT as a contractor

ProsThey appeared to have a lot of strengths and were organized. Decent pay. At the time that I was there in the Livingston office they had a good chef in their cafeteria and the price of lunch was not expensive. After he left it still was pretty decent. The department that I worked in was pretty clean looking with cubicles that was were decently spacious and lightly colored. I believe that room was newly done. I was treated nicely and the employees seemed to have community like mentality and seemed to help one another. Monthly they would have birthday celebrations with a cake ordered by the Admin for employees that were the born in that particular month. For Christmas, even though I was only a temp, they gave me a $50.00 gift card, and I was only assisting on certain things.

ConsI would have to think about it.

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All about facetime

Human Resources (Former Employee)
Livingston, NJ (US)

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

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

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

No, I would not recommend this company to a friend

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Good People

Senior Technologist (Former Employee)
Livingston, NJ (US)

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

ProsGood people, Relatively well organized, A decent mission as far a Finance goes, Global footprint, Diverse business

ConsMany layers of bureaucracy, Competing priorities, A kingdom of fiefdoms, never fully recovered form 2008 financial meltdown/bankruptcy, Some confusion about true market position

Advice to Senior ManagementStop trying to be Goldman

Yes, I would recommend this company to a friend

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Glassdoor is your free inside look at CIT reviews and ratings - including employee satisfaction and approval ratings for CIT CEO John A. Thain. All 105 reviews are posted anonymously by CIT employees.