Bank of Maharashtra Mumbai HR Manager Salaries by 6 Employees (Updated 2025)

5 - 10 years exp.

₹7 Lakhs - ₹9.9 Lakhs

Avg. annual salary

Monthly In-hand Salary

32% less than the average HR Manager Salary in Banking Companies for 5 - 10 years of experience

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Last Updated: 11 Feb 2025

Companies similar to Bank of Maharashtra for HR Manager in Mumbai

Bank of Maharashtra HR Manager Salary

5 - 10 years exp. (6 salaries)

₹7 L/yr - ₹9.9 L/yr

Company name	Avg Annual Salary	Open Jobs
Yes Bank HR Manager Salary 4 - 11 years exp. (15 salaries)	₹5.2 L/yr - ₹17.3 L/yr 14% more
IndusInd Bank HR Manager Salary 7 - 12 years exp. (8 salaries)	₹5 L/yr - ₹10.4 L/yr 20% less
Login to view exact salary
ICICI Bank HR Manager Salary 1 - 6 years exp. (122 salaries)	₹6.3 L/yr - ₹26 L/yr 78% more
Reliance Industries HR Manager Salary 2 - 14 years exp. (70 salaries)	₹5.7 L/yr - ₹24.4 L/yr 55% more
Reliance Retail HR Manager Salary 4 - 16 years exp. (48 salaries)	₹5.9 L/yr - ₹14.9 L/yr 17% more

HR Manager salary at Bank of Maharashtra ranges between ₹7 Lakhs to ₹9.9 Lakhs per year for employees with experience between 5 years to 10 years. Salary estimates are based on 6 latest salaries received from various employees of Bank of Maharashtra.

Experience wise Bank of Maharashtra HR Manager salaries in Mumbai

Last Updated: 11 Feb 2025

Experience	Avg Annual Salary
5 years (AmbitionBox Estimate)	₹7 L/yr - ₹8.9 L/yr
6 years (AmbitionBox Estimate)	₹7.3 L/yr - ₹9.4 L/yr
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7 years (AmbitionBox Estimate)	₹7.6 L/yr - ₹9.8 L/yr
8 years (AmbitionBox Estimate)	₹8 L/yr - ₹10.2 L/yr
9 years (AmbitionBox Estimate)	₹8.3 L/yr - ₹10.6 L/yr
10 years (AmbitionBox Estimate)	₹8.6 L/yr - ₹11 L/yr

View all

Salary related reviews for Bank of Maharashtra

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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Salary Discussions, Hike & Promotions

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 HR Manager Salary FAQs

What is the salary of HR Manager at Bank of Maharashtra in Mumbai?

The average salary of a HR Manager at Bank of Maharashtra in Mumbai typically ranges from ₹7.0 Lakhs to ₹9.9 Lakhs per year, depending on experience (from 5 years to 10 years).

The top 10% of HR Manager in Mumbai at Bank of Maharashtra earn more than ₹8.0 Lakhs per year, and the top 1% earn over ₹8.0 Lakhs per year. HR Manager 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 6 Bank of Maharashtra employees in India.

What is the estimated take home salary of a HR Manager at Bank of Maharashtra in Mumbai?

The estimated take-home salary of a HR Manager at Bank of Maharashtra in Mumbai typically ranges from ₹64,518 to ₹66,163 per month. This is based on the average salary range of ₹7.0 Lakhs to ₹9.9 Lakhs per year for employees with experience ranging from 5 years to 10 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 6 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 HR Manager in India?

ICICI Bank	₹6.3 Lakhs to ₹26.0 Lakhs per year
Reliance Industries	₹5.7 Lakhs to ₹24.4 Lakhs per year
Reliance Retail	₹5.9 Lakhs to ₹14.9 Lakhs per year
Yes Bank	₹5.2 Lakhs to ₹17.3 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 HR Manager in companies similar to Bank of Maharashtra in Mumbai?

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

IndusInd Bank

₹5.0 Lakhs to ₹10.4 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 HR Manager at Bank of Maharashtra in Mumbai?

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

Experience	Average Salary Range
5 years	₹7.0 Lakhs to ₹8.9 Lakhs per year
6 years	₹7.3 Lakhs to ₹9.4 Lakhs per year
7 years	₹7.6 Lakhs to ₹9.8 Lakhs per year
8 years	₹8.0 Lakhs to ₹10.2 Lakhs per year

and so on.

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Bank of Maharashtra HR Manager Salaries in Mumbai

Bank of Maharashtra HR Manager salary in Mumbai ranges between ₹7 Lakhs to ₹9.9 Lakhs with an average annual salary of ₹. Salary estimates are based on 6 Bank of Maharashtra latest salaries received from various employees of Bank of Maharashtra.