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Cholamandalam MS General Insurance

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3.8

based on 2k Reviews

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Cholamandalam MS General Insurance Business Development Manager salaries in Mumbai (Updated 2025)

Annual salary range
5 - 15 years exp.
₹4.5 Lakhs - ₹13 Lakhs
Avg. annual salary
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Monthly In-hand Salary

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22% more than the average Business Development Manager Salary in Insurance Companies for 5 - 15 years of experience

Interested in this particular role?

Salaries in different departments

Sales & Business Development
Business Development Manager Salary
7 - 10 years exp. (4 salaries)
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₹4.5 L/yr - ₹13 L/yr

BFSI, Investments & Trading
Business Development Manager Salary
5 years exp. (AmbitionBox Estimate)
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₹8.6 L/yr - ₹9.9 L/yr

Customer Success, Service & Operations
Business Development Manager Salary
15 years exp. (AmbitionBox Estimate)
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₹8.6 L/yr - ₹10 L/yr

Marketing & Communication
Business Development Manager Salary
13 years exp. (AmbitionBox Estimate)
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₹8 L/yr - ₹12 L/yr

Last Updated: 30 Mar 2025

Companies similar to Cholamandalam MS General Insurance for Business Development Manager in Mumbai

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Cholamandalam MS General Insurance Business Development Manager Salary

5 - 15 years exp. (9 salaries)
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₹4.5 L/yr - ₹13 L/yr

vs
Company name Avg Annual Salary Open Jobs
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IndiaFirst Life Insurance Business Development Manager Salary

0 - 10 years exp. (57 salaries)
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₹2.8 L/yr - ₹6 L/yr

arrow icon 55% less
 10 job openings
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Bajaj Allianz Life Insurance Business Development Manager Salary

1 - 12 years exp. (21 salaries)
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₹3.7 L/yr - ₹5.5 L/yr

arrow icon 49% less
 2 job openings
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SBI General Insurance Business Development Manager Salary

0 - 7 years exp. (18 salaries)
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₹2.8 L/yr - ₹4.5 L/yr

arrow icon 56% less
 13 job openings
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Edelweiss Life Insurance Business Development Manager Salary

2 - 10 years exp. (17 salaries)
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₹1.5 L/yr - ₹4.5 L/yr

arrow icon 56% less
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Axis Max Life Insurance Business Development Manager Salary

2 - 9 years exp. (14 salaries)
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₹4 L/yr - ₹7 L/yr

arrow icon 41% less
 3 job openings
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Star Union Dai-ichi Life Insurance Business Development Manager Salary

4 - 7 years exp. (6 salaries)
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₹3.9 L/yr - ₹6.4 L/yr

arrow icon 39% less
 17 job openings
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Life Insurance Corporation of India Business Development Manager Salary

3 - 8 years exp. (5 salaries)
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₹2.8 L/yr - ₹6.5 L/yr

arrow icon 54% less
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Future Generali India Life Insurance Business Development Manager Salary

3 - 8 years exp. (4 salaries)
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₹5 L/yr - ₹6 L/yr

arrow icon 42% less
 1 job opening
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Allianz Partners Business Development Manager Salary

4 - 6 years exp. (3 salaries)
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₹7.8 L/yr - ₹10 L/yr

arrow icon 1% more
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Gallagher Business Development Manager Salary

4 - 14 years exp. (3 salaries)
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₹10 L/yr - ₹10.8 L/yr

arrow icon 14% more
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Bharti AXA Life Insurance Business Development Manager Salary

3 - 7 years exp. (3 salaries)
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₹3 L/yr - ₹6.4 L/yr

arrow icon 56% less
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Paramount Health Services Tpa Business Development Manager Salary

10 - 16 years exp. (3 salaries)
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₹4.9 L/yr - ₹7 L/yr

arrow icon 43% less
 1 job opening
Business Development Manager salary at Cholamandalam MS General Insurance ranges between ₹4.5 Lakhs to ₹13 Lakhs per year for employees with experience between 5 years to 15 years. Salary estimates are based on 9 latest salaries received from various employees of Cholamandalam MS General Insurance.

Latest annual salaries shared by Cholamandalam MS General Insurance Business Development Manager in Mumbai

1w ago
₹8.5 Lakhs
10 years exp.
2mo ago
₹8.6 Lakhs
15 years exp.
3mo ago
₹12.5 Lakhs
10 years exp.
5mo ago
₹4.5 Lakhs
7 years exp.
1y ago
₹13 Lakhs
10 years exp.
1y ago
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13 years exp.

Experience wise Cholamandalam MS General Insurance Business Development Manager salaries in Mumbai

Last Updated: 30 Mar 2025

Experience Avg Annual Salary
5 years (AmbitionBox Estimate)

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₹7.7 L/yr - ₹9.8 L/yr
6 years (AmbitionBox Estimate)

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₹7.8 L/yr - ₹10 L/yr
7 years (AmbitionBox Estimate)

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₹8 L/yr - ₹10.2 L/yr
8 years (AmbitionBox Estimate)

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₹8.1 L/yr - ₹10.4 L/yr
9 years (AmbitionBox Estimate)

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₹8.3 L/yr - ₹10.6 L/yr
View all

Similar Designation salaries in Cholamandalam MS General Insurance

Business Development Executive Salary
(3 salaries)
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₹2 L/yr - ₹3.5 L/yr

Salary related reviews for Cholamandalam MS General Insurance

Area Manager in Bikaner

Full Time

 · 

BFSI, Investments & Trading Department

5.0
  •  posted on 20 Nov 2024
3.0
 for  Salary and Benefits

Likes

Good company. Having Employee friendly. Happy to work here...

  • Skill development - Excellent
    • +5 more

Dislikes

Only In company promotion you can't get salary hike as you deserved . Some of the points your salary is laser then your colleagues and team.

read more

Sales Manager in New Delhi

Full Time

 · 

BFSI, Investments & Trading Department

1.0
  •  posted on 07 Aug 2023
3.0
 for  Salary and Benefits

Likes

Nothing

Dislikes

Appraisals are terrible here even if achieved 275% of ytd target they increase only 7% of salary..no personal life teams meeting every now and then infact after working hours also, continue warning of termination if you fail to achieve daily numbers

read more
  • Promotions - Bad
    • +3 more

Deputy Manager in Chennai

Full Time

 · 

BFSI, Investments & Trading Department

3.0
  •  posted on 15 Feb 2022
3.0
 for  Salary and Benefits

Likes

The company provides a very high job security and you would never face any delays in salary. The leaves offered by the company are also good in comparison to other companies.

read more
  • Job security - Excellent

Dislikes

The companies culture is not meant for youngsters or people who wants to work in a challenging and learning environment. A lot of People in this company are working since 10-15 years and have a very rigid mentality and approach towards work. The gowth trajectory is very slow and the learning curve is also flat.

read more
  • Skill development - Bad
    • +4 more

Territory Manager in Khammam

Health Insurance Department

5.0
  •  posted on 15 Feb 2021
5.0
 for  Salary and Benefits

Likes

...gement is transparent. There is a huge cafeteria and gaming arcade for chilling. Company policies are good, appraisals are fair and they give good salary hike and bonus every year.

read more
  • Salary - Excellent
    • +6 more

Agency Manager in Ahmednagar

Full Time

 · 

Customer Success, Service & Operations Department

3.0
  •  posted on 06 Jan 2023
2.0
 for  Salary and Benefits

Likes

Murugappa group is a very big group, One of them is Chola General Insurance. Salary is good in the company.

read more

Dislikes

The company has a great name, but the company's senior front-line executives are not doing well in support.. The company does not use today's technology in the work.

read more
  • Salary - Poor
    • +3 more
see more salary related reviews

Discover interview dos and don'ts from real experiences

Top trending discussions

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Salary Discussions, Hike & Promotions
1w (edited)
an inside sales executive
Unexpected job policies: stay or switch?
I recently switched jobs with a 48% hike, and my current in-hand salary is ₹35K. But after joining, I realized a few important things that weren’t mentioned during the interview. 1. No Phones or Bags Allowed – We have to keep them in lockers, which I wasn’t informed about before joining. 2. Working Saturdays – HR said all Saturdays are working but assured that one Saturday off per month would be introduced soon. I can't see that happening anytime soon 3. Phone Policy Confusion – When I asked HR why this wasn’t discussed earlier, they said it’s only for two months and won’t be the case at the new location (which was discussed earlier). But some old employees say the same rule applies there too. 4. Leaves – We get 21 paid leaves a year. I’m already thinking of switching. Would it be too soon to leave within 3 months, or should I stay for at least 6 months? Also, since I just got a good hike, how much can I ask for in my next job?
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Cholamandalam MS General Insurance Business Development Manager Salary FAQs

What is the salary of Business Development Manager at Cholamandalam MS General Insurance in Mumbai?
The average salary of a Business Development Manager at Cholamandalam MS General Insurance in Mumbai typically ranges from ₹4.5 Lakhs to ₹13.0 Lakhs per year, depending on experience (from 5 years to 15 years).

The top 10% of Business Development Manager in Mumbai at Cholamandalam MS General Insurance earn more than ₹12.8 Lakhs per year, and the top 1% earn over ₹13.0 Lakhs per year. Business Development Manager Salaries at Cholamandalam MS General Insurance 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 9 Cholamandalam MS General Insurance employees in India.
What is the estimated take home salary of a Business Development Manager at Cholamandalam MS General Insurance in Mumbai?
The estimated take-home salary of a Business Development Manager at Cholamandalam MS General Insurance in Mumbai typically ranges from ₹65,756 to ₹67,435 per month. This is based on the average salary range of ₹4.5 Lakhs to ₹13.0 Lakhs per year for employees with experience ranging from 5 years to 15 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 9 salaries received from various employees of Cholamandalam MS General Insurance. Check how we calculate in-hand salary with our in-hand salary calculator.
Which companies offer higher salaries than Cholamandalam MS General Insurance for Business Development Manager in India?
Gallagher ₹10.0 Lakhs to ₹10.8 Lakhs per year
Allianz Partners ₹7.8 Lakhs to ₹10.0 Lakhs per year

These companies are known for offering competitive compensation packages that can exceed the salary offered by Cholamandalam MS General Insurance, depending on the role and experience level.
What is the salary of a Business Development Manager in companies similar to Cholamandalam MS General Insurance in Mumbai?
The salary of a Business Development Manager at companies similar to Cholamandalam MS General Insurance in Mumbai varies, depending on the role, experience, and company size. Here are the typical salary ranges:

Star Union Dai-ichi Life Insurance ₹3.9 Lakhs to ₹6.4 Lakhs per year
Axis Max Life Insurance ₹4.0 Lakhs to ₹7.0 Lakhs per year
Future Generali India Life Insurance ₹5.0 Lakhs to ₹6.0 Lakhs per year
Paramount Health Services Tpa ₹4.9 Lakhs to ₹7.0 Lakhs per year
Bajaj Allianz Life Insurance ₹3.7 Lakhs to ₹5.5 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 Development Manager at Cholamandalam MS General Insurance in Mumbai?
The salary growth for a Business Development Manager at Cholamandalam MS General Insurance in Mumbai depends on factors such as experience, performance, and promotions. On average, a Business Development Manager in Mumbai can expect the following growth trajectory at Cholamandalam MS General Insurance:

Experience Average Salary Range
5 years ₹7.7 Lakhs to ₹9.8 Lakhs per year
6 years ₹7.8 Lakhs to ₹10.0 Lakhs per year
7 years ₹8.0 Lakhs to ₹10.2 Lakhs per year
8 years ₹8.1 Lakhs to ₹10.4 Lakhs per year
and so on.

Tell us how to improve this page.

Cholamandalam MS General Insurance Business Development Manager salary in Mumbai ranges between ₹4.5 Lakhs to ₹13 Lakhs with an average annual salary of ₹unlock blur. Salary estimates are based on 9 Cholamandalam MS General Insurance latest salaries received from various employees of Cholamandalam MS General Insurance.