CIT Group Questions
Question, how is CIT Group percieved on the street? I know they had problems in the crisis but is it decent to work there as an analyst or intern? Is the comp equal or close to street level? What are exit ops for a typical analyst? Thanks!
Anyone?
Primarily middle market lending with some exposure to PE as the senior lender. Tough to break in directly to PE, but I think there are opportunities to join a CLO or lateral to a leverage finance group at an investment bank. I don't think pay is comparable as you don't work as many hours (but I don't know the details).
CIT Group - Reputable? (Originally Posted: 12/16/2007)
Is CIT Group reputable? How does it generally rank among the likes of Jeffries, BofA...
Would you recommend choosing CIT over Jeffries? Also, would you recommend going to Jeffries to work with someone willing to be your mentor over joining the general pool at MS/LB?
If you have the option, I would choose Jefferies. CIT I think of more as a commercial lender. I guess they have an IB group but they are not well known. I don't know what kind of setup you have with the mentor at Jeffries but obviously, depending on your exit op preferences, you can't go wrong with ML/LB.
CIT Group - Familiar with comp and culture? (Originally Posted: 11/21/2011)
Anyone familiar with the comp/culture at CIT Group? I have an interview with their healthcare team next week and was just interested in how they perceived post bankruptcy under thain
I interviewed with CIT group for a lateral senior analyst role earlier this year. My impression was that they were still trying to find a culture and re-establish themselves in the market place. Also, they were pretty up front with me in regards to having to gett used to the immense amount of government oversight they are still under, and how that was effecting getting business done.
BTW, the posistion was in the transportation levfin group.
would be great if you could add this under the Interview Insight in the WSO Company Database: //www.wallstreetoasis.com/wso-company-database
...damn, don't think we have CIT in there yet as a company though. any help you guys can give is very much appreciated.
Thanks, Patrick
Awesome, thanks.
Anyone else?
Curious, was this for CIT's transport leasing group (plane/railcar finance etc) or for the transport practice for general corporate lev fin, or both? I know at one point transportation lease finance was its own group, not sure if that's still the case.
Should have looked at their website first, pretty clearly laid out on there.
Yeah, this is for their corporate finance lev fin group
CIT Group Inc. (Originally Posted: 05/30/2008)
Anyone know anything about this company, what they do etc? I read a little on vault about them and an analyst submitted a survey saying he/she received 60k base 10k signing and 20k bonus at end of 4 months and 70k bonus for first full year and that was in the leverage/corporate finance group. Can anyone confirm that or speak about hours culture?
I know a few people who work there. It's a very reputable name to a lot of large corporations and work closely with many ibanks. They are a very large lending/financing firm dealing with a lot of F500 companies. From what I know a lot of their lending is to large equip co's. They recently opened an investment banking arm a few years back. I know someone who works in their M&A division and seems to be busy with dealflow (mainly healthcare). I also believe there have been a few internal shake ups and less-than-perfect performances in the past few years, including a few layoffs (like many other fin institutions during this time)
As far as compensation, I'm not positive but I wouldn't be surprised if your description was accurate. The culture seems to be pretty work intensive and the people I've talked to are very personable at the same time.
If you're interested in their corp fin department and want to do leveraged finance it seems like a really good opportunity. Good luck with everything.
I interviewed with them last year. I interviewed with the industrial group and the healthcare group. As far as I know they are mainly a commercial lender with the exception of the healthcare group which does M&A type work. At the time the healthcare group was the gem of the company (according to the healthcare MD) and was run mainly by ex Citi bankers.
Can anyone comment on the hours?
CIT Group worth it? (Originally Posted: 05/01/2011)
Thoughts or insight on CIT? I hear they have a legit healthcare IB group. How is trade finance? Compensation and exit ops?
Shit Group is not worth it.
Anyone else?
would be interested in hearing thoughts on their sponsor groups
would be interested in hearing thoughts on their sponsor groups
Bump
Very much MM/lower MM for what it's worth, and pre-2007 very dependent on using their balance sheet to "buy" deals.
They're working to rebuild themselves; IMO their most valuable corporate assets/franchises are their non-corp fin groups like leasing, trade finance, consumer finance, etc. Working as an actual lender/underwriter would be preferable to being in corp fin advisory (IB) to me, though I'm not sure how they organize it anymore-there may not be a distinction.
Trade finance is basically factoring and working capital lines, it's very different from cash-flow based lending and I'm not sure how transferable the skillset would be. CIT is a big player within that space, though.
Hey, could you explain a bit more about what exactly trade finance is, appreciate it
I had an opportunitity to interview for trade finance. Any idea on compensation in general and for trade finance?
Not sure, would expect it to be below street.
Receivables lending, purchase order financing, vendor/inventory loans, and letters of credit are all forms of trade finance. Google those terms and you should be able to find plenty of resources.
CIT - Terms of prestige? (Originally Posted: 09/10/2007)
Where does CIT rank in terms of prestige? Its rep on the street, etc.
Thanks for any help.
Not really in the conversation... they are starting up their investment banking practice as part of new leadership that was brought over from GE Capital... will use their commercial banking/specialty finance balance sheet to drive business much like bank of america securities/wachovia securities etc...
i mean, i fell it's definately in the conversation, maybe more specifically corpfin than ibanking, but it's an 80billion mktcap firm, you're saying it gets no respect on the street?
they offer analyst training programs...i guess im wondering how that stacks up against, say, UBS's or Merrill's all else being held equal, in terms of prestige exit ops.
thx.
Your exit ops will have almost nothing to do with the bank you went to (when comparing among BBs, maybe GS or MS will give you an edge) and everything to do with how well you sell your experience during your interviews. Seeing as two people can go through the analyst program at the same bank and come out with vastly different experiences, the comparison is just a waste of time.
CIT - Opinions? (Originally Posted: 11/22/2014)
Hi WSO,
I'm looking at CIT, Martime Finance/Investment Banking group? I know it's a very niche group and I may be pigeonholing myself, but I'll be using the same hard-skills as anyone else in any other IB group. Just wanted to see if anyone had any experience with CIT?
Realize this is dated at this point - but out of curiousity how'd things pan out?
CIT - Info on compensation? (Originally Posted: 01/02/2008)
Any and all info on this firm would be greatly appreciated. Particularly any info pertaining to the best (most competitive and well regarded groups) at CIT. Also, any info on compensation would be cool too.
thanks in advance and regardless,
Not sure about their other groups, but their MM M&A group has recently improved greatly. They just recently acquired Edgeview Partners a well regarded boutique M&A shop (mostly ex-Bowles Hollowell bankers).
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