CIT Reviews

Updated 14 August, 2014
Updated 14 August, 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

27 Employee Reviews Back to all reviews

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  1.  

    AVP; jump ship if possible

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

    I worked at CIT full-time for more than 5 years

    Pros

    Decent benefits; friendly enough people, though most are just as non-stoked to (still) be at CIT as you are.

    Cons

    Terrible morale. Relatively low compensation compared to other banks. Constant stream of layoffs and people quitting (at least through 2012 & 2013).

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

    CIT is definitely no 7-Eleven--It's far worse!

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

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

    Pros

    Benefits, some decent salaries, advancement (if you have the right friends), title (if you have the right friends),, Ability to land a very well-paid job with CIT (no experience required) if you were friends with the right people (CIO, CAO, COO, etc.)

    Cons

    If you're not friends with an officer (CIO, COO, CAO, etc.), look elsewhere if you want a decent job (min: director-level or above). Bottom line: CIT IT CIO takes care of her own.

    Advice to ManagementAdvice

    Watch the mass exodus begin whenever CIO leaves CIT. No new management team would tolerate this level of nepotism!.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  3. 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
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  5. 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
  6. 4 people found this helpful  

    Only vampires covet "Fresh Blood"

    • 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 3 years

    Pros

    The cafeteria is OK but they sell out of many things by 11:30.

    Cons

    Where to begin? One of the previous posters who apparently had a full immersion baptism in the CIT Kool-Aid-assuming they are not in HR or public relations- raved about the current IT management team. Really? I won't get into naming names but they singled out the network infrastructure team for undeserved effusive praise. How can you trust that team to transition to cloud technology when they can't even manage routine network infrastructure tasks like middleware configuration or server maintenance without inevitable outages and application failures? That team is so siloed that you can't even figure out where to turn when your app goes down because of their miscues. You have to hope the offshore help desk person who processes your trouble ticket can route it to the correct person and hope they deign to assist in a timely fashion. A lot of other posters have hit the nail on the head regarding the current CIO and her inner circle so I there is little of value I can add to their dead on commentaries.

    Advice to ManagementAdvice

    Why bother? They could care less about anything other than their bonus checks.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  7.  

    Company continues to be in transition

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

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

    Pros

    Good 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.

    Cons

    HR 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 ManagementAdvice

    Spend 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.

    Neutral Outlook
    No opinion of CEO
  8. 2 people found this helpful  

    Dedicated Staff, marginal management

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

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

    Pros

    Coworkers band together despite frequent management replacements

    Cons

    Management still cannot get it right

    Advice to ManagementAdvice

    Find work in a different industry sector or planet.

    Negative Outlook
    Approves of CEO
  9. 1 person found this helpful  

    I do not consider CIT a world class Financial Services Organization

    • 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

    Nothing 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.

    Cons

    Everything 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 ManagementAdvice

    Do not make committments to change and people that you cannot and will not keep.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10.  

    Pressure-packed work environment

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

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

    Pros

    Good 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.

    Cons

    Not 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 ManagementAdvice

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

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11.  

    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

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