ICICI Bank Senior Product Manager salaries in Mumbai (Updated 2025)

Likes

Work life balance large lot depends on your team and team lead. Job security and steady pay. Company culture is still hierarchical but slowly changing. Work satisfaction depends on team again. Product teams are better for learning and growth

Dislikes

No merit based promotion or appraisals. Limited scope for team change recently. Management has tunnel vision and execute the lead’s vision without room for questioning

Likes

ICICI Bank is a brand You don't have to worry about job security Definitely you will get the best exposure if you want to make your career in banking industry Management and HR policies are fantastic I have been working here for 5 years and I'm really enjoying your time with ICICI Work culture is good If you are a fresher Go for it If you are an experienced person I'll recommend to consider ICICI as your last job in your career because you can plan your retirement with this organisation

Dislikes

Salary and incentives Very Poor till the grade MMI After MMII you are going to get handsome bonus and perks After CMII you will get Vehicle benefits As AGM you will get house allowance from bank and by DGM & Above All your expenses will be take care by bank So the conclusion is if you are below the grade.MMII the salary and incentives are very poor After MII and above only incentives are excellent but again hikes on salary are poor (7-8% of increment in non promotion) & 18% in promotion You are eligible for Promotion after 3 years

Likes

The bank is one of the top banks in India in terms of market size and the leading bank in terms of technology adaption. So if you are a product manager, you'll get to work on a variety of digital initiatives which will most probably be replicated in other banks on the months or years to come.

Dislikes

The compensation is not the best. Fintechs pay more and so do some other banks. Even though there is salary correction/parity done every few years to match market salaries, you still feel it is a little less. Also 25% of ctc is variable portion which is too high and you generally get only 60 to 80% of it every year. Job security makes up for all this.

Likes

Work life balance is there if you are a Virtual RM. Salary is below average as compared to posh cities where cost of living is high like Bangalore. HR policies is good. Fresher should take a chance to learn and embibe in the field. Coming to promotion it is by default your years of experience and expertise in the domain.

Dislikes

CTC Complexities Internal department change is not easy

Likes

The overall salary structure. Centralized appraisals.

Dislikes

Thank God for centralized appraisals, otherwise one wouldn't get a dime! The company culture is deteriorating with every passing minute. You won't get to learn new things unless the hierarchy sees their own benefit in it. Favourism and partiality goes hand in hand and at a peak level.