Bank of Maharashtra Business Correspondent Salaries by 4 Employees

2 - 3 years exp.

₹2 Lakhs - ₹2.9 Lakhs

Low Confidence

Avg. annual salary

Monthly In-hand Salary

16% less than the average Business Correspondent Salary in Banking Companies for 2 - 3 years of experience

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Last Updated: 15 Mar 2023

Companies similar to Bank of Maharashtra for Business Correspondent

Company name	Avg Annual Salary	Open Jobs
Bank of Baroda Business Correspondent Salary 2 - 10 years exp. (20 salaries)	₹1.7 L/yr - ₹4.2 L/yr 8% more
Bank of India Business Correspondent Salary 0 - 10 years exp. (12 salaries)	₹1 L/yr - ₹4.5 L/yr 21% more
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Indian Overseas Bank Business Correspondent Salary 1 - 5 years exp. (11 salaries)	₹1 L/yr - ₹3 L/yr 22% less
Central Bank of India Business Correspondent Salary 0 - 6 years exp. (9 salaries)	₹1.5 L/yr - ₹3 L/yr 5% more
Indian Bank Business Correspondent Salary 1 - 9 years exp. (8 salaries)	₹1.2 L/yr - ₹3 L/yr 3% more
IndusInd Bank Business Correspondent Salary 2 - 3 years exp. (5 salaries)	₹2.5 L/yr - ₹3 L/yr 22% more
IDFC FIRST Bank Business Correspondent Salary 2 - 12 years exp. (4 salaries)	₹2.1 L/yr - ₹4 L/yr 32% more
UCO Bank Business Correspondent Salary 5 - 6 years exp. (4 salaries)	₹2.2 L/yr - ₹3.5 L/yr 17% more
J&K Bank Business Correspondent Salary 5 - 15 years exp. (3 salaries)	₹3.2 L/yr - ₹8 L/yr 158% more

Business Correspondent salary at Bank of Maharashtra ranges between ₹2 Lakhs to ₹2.9 Lakhs per year for employees with experience between 2 years to 3 years. Salary estimates are based on 4 latest salaries received from various employees of Bank of Maharashtra.

Experience wise Bank of Maharashtra Business Correspondent salaries

Last Updated: 15 Mar 2023

Experience	Avg Annual Salary
2 years (AmbitionBox Estimate)	₹0.8 L/yr - ₹2.3 L/yr
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3 years (3 salaries)	₹2 L/yr - ₹2.9 L/yr

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Salary related reviews for Bank of Maharashtra

3.0

Rated by 1 employees for salary & benefits

Branch Manager in Pune

Full Time

BFSI, Investments & Trading Department

2.0

• posted on 09 Aug 2024

4.0

for Salary and Benefits

Likes

Salary credited on time nothing else

Salary - Good

+1 more

Dislikes

No work life balance, extreme pressure for sales . Shortage of staff and very bad behaviour of higher Management executives on middle management officers. Frequent all India transfers , usse transfer as tools to harass it's employees to meet their targets.

Skill development - Poor

+4 more

Manager in Patna

Full Time

Credit monitoring Dept. Department

3.0

• posted on 20 Aug 2021

2.0

for Salary and Benefits

Likes

They have a very good policy and one should spend some time to understand the policies.

Job security - Good

+2 more

Dislikes

...f Maharashtra is an old generation bank and it will reflect in the work culture. They still have the system of manual salary where one need to submit an attendance sheet and the same would be send to zone. Then they will upload and you will receive your salary and stuffs like that.

Salary - Poor

+2 more

Assistant Manager in Pune

Full Time

Other Department

2.0

• posted on 05 Mar 2018

1.0

for Salary and Benefits

Likes

...dustry going through tough it's quite difficult to work in this organization . Heavy work pressure and the risk involve in it doesn't compesate the salary in hand.

Job security - Good

+1 more

Dislikes

Heavy work load, risk involved in credit , incessant targets bombarded every day ,no work life balance

Salary - Bad

+4 more

Manager in Gujarat

BFSI, Investments & Trading Department

2.0

• posted on 02 Feb 2022

4.0

for Salary and Benefits

Likes

Job Security, PSU Bank, Allowance are good as compared to industry, Career growth opportunities are there. Technology is good

Salary - Good

+2 more

Dislikes

...ot believe in training. You should be a self learner Pathetic Work life balance. They will call on Saturday and sunday without compensation. Quality of the proposal is not good.

Skill development - Bad

+3 more

Operations Manager in Pune

Operations Department

1.0

• posted on 09 Dec 2021

3.0

for Salary and Benefits

Likes

Nothing Except the Means as providing salary but in vain. Job is secure but Life is not.

Job security - Good

+1 more

Dislikes

Discriminative, insulting, Torturous, Biased, Zero Work life balance, Unsupportive, No life security includes forced Unhealthy routines leads to serious health problems, Chaotic, tensed ambiance and many.

Skill development - Poor

+3 more

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My current CTC is ₹7,80,660, which includes a ₹1,32,000 night shift allowance, and my monthly take-home pay is ₹72,133. I have received a new job offer with a CTC of ₹10,67,231, a monthly take-home pay of ₹83,333, and 192 restricted stock units (each valued at $60, vesting 25% after one year and quarterly thereafter). This new position is closer to my home and does not involve night shifts. The offer letter is attached. I have also requested a ₹95,000 monthly salary increase and am awaiting their response. Could someone advise me on whether I should accept the new offer or remain in my current role?

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Bank of Maharashtra Business Correspondent Salary FAQs

What is the salary of Business Correspondent at Bank of Maharashtra ?

The average salary of a Business Correspondent at Bank of Maharashtra in India typically ranges from ₹2.0 Lakhs to ₹2.9 Lakhs per year, depending on experience (from 2 years to 3 years).

The top 10% of Business Correspondent at Bank of Maharashtra earn more than ₹2.9 Lakhs per year, and the top 1% earn over ₹2.9 Lakhs per year. Business Correspondent Salaries at Bank of Maharashtra can be higher or lower depending on factors such as the specific team, level of experience, and additional benefits like bonuses and stock options.

These estimates are based on salary data submitted by 4 Bank of Maharashtra employees in India.

What is the estimated take home salary of a Business Correspondent at Bank of Maharashtra in India?

The estimated take-home salary of a Business Correspondent at Bank of Maharashtra in India typically ranges from ₹15,357 to ₹16,955 per month. This is based on the average salary range of ₹2.0 Lakhs to ₹2.9 Lakhs per year for employees with experience ranging from 2 years to 3 years.The take-home salary is calculated after accounting for standard deductions such as taxes, provident fund (PF), and insurance. Salary estimates are based on 4 salaries received from various employees of Bank of Maharashtra. Check how we calculate in-hand salary with our in-hand salary calculator.

Which companies offer higher salaries than Bank of Maharashtra for Business Correspondent in India?

J&K Bank	₹3.2 Lakhs to ₹8.0 Lakhs per year
IDFC FIRST Bank	₹2.1 Lakhs to ₹4.0 Lakhs per year
IndusInd Bank	₹2.5 Lakhs to ₹3.0 Lakhs per year
Bank of India	₹1.0 Lakhs to ₹4.5 Lakhs per year
UCO Bank	₹2.2 Lakhs to ₹3.5 Lakhs per year

These companies are known for offering competitive compensation packages that can exceed the salary offered by Bank of Maharashtra, depending on the role and experience level.

What is the salary of a Business Correspondent in companies similar to Bank of Maharashtra in India?

The salary of a Business Correspondent at companies similar to Bank of Maharashtra in India varies, depending on the role, experience, and company size. Here are the typical salary ranges:

Bank of Baroda	₹1.7 Lakhs to ₹4.2 Lakhs per year
Central Bank of India	₹1.5 Lakhs to ₹3.0 Lakhs per year
Indian Bank	₹1.2 Lakhs to ₹3.0 Lakhs per year
Indian Overseas Bank	₹1.0 Lakhs to ₹3.0 Lakhs per year

These companies, which operate in similar sectors, offer competitive salaries, although the range can vary based on the company and individual experience levels.

How the salary growth look like for a Business Correspondent at Bank of Maharashtra in India?

The salary growth for a Business Correspondent at Bank of Maharashtra depends on factors such as experience, performance, and promotions. On average, a Business Correspondent can expect the following growth trajectory at Bank of Maharashtra:

Experience	Average Salary Range
2 years	₹0.8 Lakhs to ₹2.3 Lakhs per year
3 years	₹2.0 Lakhs to ₹2.9 Lakhs per year

and so on.

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Bank of Maharashtra Business Correspondent Salaries

Bank of Maharashtra Business Correspondent salary in India ranges between ₹2 Lakhs to ₹2.9 Lakhs with an average annual salary of ₹. Salary estimates are based on 4 Bank of Maharashtra latest salaries received from various employees of Bank of Maharashtra.