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Kotak Mahindara Life Insurance Cluster Manager salaries in India (Updated 2025)

Annual salary range
6 - 16 years exp.
₹5 Lakhs - ₹15 Lakhs
Salary of majority employees
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9% less than the average Cluster Manager Salary in Insurance Companies for 6 - 16 years of experience

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Salaries in different departments

BFSI, Investments & Trading
Cluster Manager Salary
6 - 16 years exp. (12 salaries)
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₹5 L/yr - ₹12.3 L/yr

Sales & Business Development
Cluster Manager Salary
7 - 14 years exp. (8 salaries)
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₹7 L/yr - ₹15 L/yr

Finance & Accounting
Cluster Manager Salary
9 - 11 years exp. (3 salaries)
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₹7.8 L/yr - ₹8.5 L/yr

Customer Success, Service & Operations
Cluster Manager Salary
15 - 16 years exp. (AmbitionBox Estimate)
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₹7.7 L/yr - ₹8.5 L/yr

Last Updated: 17 Feb 2025

Companies similar to Kotak Mahindara Life Insurance for Cluster Manager

Company name Avg Annual Salary Open Jobs
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HDFC Life Cluster Manager Salary

5 - 17 years exp. (283 salaries)

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₹5 L/yr - ₹12 L/yr

arrow icon 8% more
1 job opening
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₹5.2 L/yr - ₹14 L/yr

arrow icon 11% more
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Axis Max Life Insurance Cluster Manager Salary

6 - 15 years exp. (210 salaries)

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₹5.5 L/yr - ₹14.9 L/yr

arrow icon 23% more
1 job opening
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₹4.2 L/yr - ₹14.3 L/yr

arrow icon 4% more
1 job opening
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₹3.7 L/yr - ₹10 L/yr

arrow icon 22% less
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Tata AIA Life Insurance Cluster Manager Salary

6 - 19 years exp. (49 salaries)

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₹4.5 L/yr - ₹18.6 L/yr

arrow icon 31% more
3 job openings
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₹5 L/yr - ₹16 L/yr

arrow icon 8% more
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₹6.1 L/yr - ₹13.6 L/yr

arrow icon 6% more
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Shriram Life Insurance Cluster Manager Salary

8 - 18 years exp. (21 salaries)

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₹3.8 L/yr - ₹6.5 L/yr

arrow icon 41% less
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₹4.1 L/yr - ₹13.5 L/yr

arrow icon 19% more
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₹3.8 L/yr - ₹11 L/yr

arrow icon 4% less
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₹3.5 L/yr - ₹5.3 L/yr

arrow icon 49% less
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₹5.3 L/yr - ₹7.7 L/yr

arrow icon 28% less
Cluster Manager salary at Kotak Mahindara Life Insurance ranges between ₹5 Lakhs to ₹15 Lakhs per year for employees with experience between 6 years to 16 years. Salary estimates are based on 34 latest salaries received from various employees of Kotak Mahindara Life Insurance.

Latest annual salaries shared by Kotak Mahindara Life Insurance Cluster Manager

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12 years exp.
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Experience wise Kotak Mahindara Life Insurance Cluster Manager salaries

Last Updated: 17 Feb 2025

Experience Avg Annual Salary
6 years  (3 salaries)

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₹7.4 L/yr - ₹11.7 L/yr
7 years (AmbitionBox Estimate)

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₹5.5 L/yr - ₹9.5 L/yr
8 years  (3 salaries)

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₹5.5 L/yr - ₹9.2 L/yr
9 years  (5 salaries)

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₹5 L/yr - ₹12.5 L/yr
10 years  (4 salaries)

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₹7 L/yr - ₹12.3 L/yr
View all

Similar Designation salaries in Kotak Mahindara Life Insurance

Store Manager Salary
(AmbitionBox Estimate)
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₹25.7 L/yr - ₹32.8 L/yr
Cluster Head Salary
(9 salaries)
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₹5.2 L/yr - ₹21.75 L/yr
Area Manager Salary
(30 salaries)
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₹4.7 L/yr - ₹17.5 L/yr
Deputy Manager Salary
(764 salaries)
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₹2 L/yr - ₹5.69 L/yr
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₹3.3 L/yr - ₹6.2 L/yr
Sales Manager Salary
(563 salaries)
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₹2 L/yr - ₹6.22 L/yr
Branch Manager Salary
(202 salaries)
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₹5 L/yr - ₹13 L/yr
Territory Manager Salary
(AmbitionBox Estimate)
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₹14.2 L/yr - ₹18.2 L/yr
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₹3.5 L/yr - ₹8.4 L/yr
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₹2 L/yr - ₹7 L/yr

Top skills at Kotak Mahindara Life Insurance for Cluster Manager

Training Management Strategic Planning Training

Salary related reviews for Kotak Mahindara Life Insurance

3.4

Rated by 8 employees for salary & benefits

Full Time

 · 

BFSI, Investments & Trading Department

1.0
  •  posted on 26 Jun 2024

1.0
 for  Salary and Benefits

Likes

Managerial support.

  • Company culture - Good

Dislikes

... Company gives me 2.5% hike in appraisal after achieving a 70% of YTD Target.... Appraisal and salary hike processes at Kotak Life Insurance are deeply disappointing. Despite dedicated efforts and meeting performance targets, the appraisal system feels arbitrary and lacks transparency. Promises of career growth and salary increments are often unfulfilled, leaving employees demotivated and undervalued. There’s a noticeable disparity between the workload expectations and the compensation provided, which doesn’t align with industry standards. This undermines morale and loyalty among employees, impacting overall productivity and retention. Clearer and fairer appraisal policies are urgently needed to retain talent and boost employee satisfaction."

read more
  • Salary - Bad
  • +2 more

Full Time

 · 

Customer Success, Service & Operations Department

2.0
  •  posted on 04 Jan 2025

3.0
 for  Salary and Benefits

Likes

Only job security

Dislikes

Work environment was not at all good hr and manager gives false commitment they ask to come on Sunday without pay 7 days a week and daily extend shift without any OT or something no positive environment they treat us like machine

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  • Skill development - Poor
  • +4 more

Full Time

 · 

Sales & Business Development Department

1.0
  •  posted on 17 Feb 2023

1.0
 for  Salary and Benefits

Likes

... here 2yrs and they continue lied to me and us.. They have comission based job.. they will never give you any kind of salary..

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Dislikes

I like nothing about them.. I m with my word..

  • Salary - Bad
  • +6 more

Alternate Sales Department

2.0
  •  posted on 13 Apr 2022

2.0
 for  Salary and Benefits

Likes

Kotak Mahindra Bank branches alloted were doing good business

Dislikes

1st salary badly delayed, but was personally sorted by HR. No support even in case of family emergency and hence had to resign having no choice

read more
  • Salary - Poor
  • +5 more

Sales Department

5.0
  •  posted on 06 May 2021

4.0
 for  Salary and Benefits

Likes

Kotak working environment is overall good. Give space to employees to work on their own. Job security is there.

  • Salary - Good
  • +5 more

Dislikes

Salary structure is quite low and apprehensive. Difficult to co relate with target and hard work you put in. No goal sheet which directly linked with growth and appraisal.

read more
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Kotak Mahindara Life Insurance Cluster Manager Salary FAQs

What is the salary of Cluster Manager at Kotak Mahindara Life Insurance ?
The average salary of a Cluster Manager at Kotak Mahindara Life Insurance in India typically ranges from ₹5.0 Lakhs to ₹15.0 Lakhs per year, depending on experience (from 6 years to 16 years).

The top 10% of Cluster Manager at Kotak Mahindara Life Insurance earn more than ₹12.3 Lakhs per year, and the top 1% earn over ₹15.0 Lakhs per year. Cluster Manager Salaries at Kotak Mahindara Life 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 30+ Kotak Mahindara Life Insurance employees in India.
What is the estimated take home salary of a Cluster Manager at Kotak Mahindara Life Insurance in India?
The estimated take-home salary of a Cluster Manager at Kotak Mahindara Life Insurance in India typically ranges from ₹61,795 to ₹63,362 per month. This is based on the average salary range of ₹5.0 Lakhs to ₹15.0 Lakhs per year for employees with experience ranging from 6 years to 16 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 30+ salaries received from various employees of Kotak Mahindara Life Insurance. Check how we calculate in-hand salary with our in-hand salary calculator.
What are the key skills required to be a Cluster Manager at Kotak Mahindara Life Insurance ?
To be a Cluster Manager at Kotak Mahindara Life Insurance in india, the key skills required include:

  • - Training Management
  • - Strategic Planning
  • - Training

These skills are highly valued at Kotak Mahindara Life Insurance and are crucial for successful performance in a Software Engineering role.
Which companies offer higher salaries than Kotak Mahindara Life Insurance for Cluster Manager in India?
Tata AIA Life Insurance ₹4.5 Lakhs to ₹18.6 Lakhs per year
Axis Max Life Insurance ₹5.5 Lakhs to ₹14.9 Lakhs per year
HDFC Ergo General Insurance ₹4.1 Lakhs to ₹13.5 Lakhs per year
Aditya Birla Sun Life Insurance ₹5.2 Lakhs to ₹14.0 Lakhs per year
Reliance Nippon Life Insurance ₹5.0 Lakhs to ₹16.0 Lakhs per year

These companies are known for offering competitive compensation packages that can exceed the salary offered by Kotak Mahindara Life Insurance, depending on the role and experience level.
What is the salary of a Cluster Manager in companies similar to Kotak Mahindara Life Insurance in India?
The salary of a Cluster Manager at companies similar to Kotak Mahindara Life Insurance in India varies, depending on the role, experience, and company size. Here are the typical salary ranges:

HDFC Life ₹5.0 Lakhs to ₹12.0 Lakhs per year
ICICI Prudential Life Insurance ₹6.1 Lakhs to ₹13.6 Lakhs per year
Bajaj Allianz Life Insurance ₹4.2 Lakhs to ₹14.3 Lakhs per year
ICICI Lombard General Insurance Company ₹3.8 Lakhs to ₹11.0 Lakhs per year
Star Health & Allied Insurance ₹3.7 Lakhs to ₹10.0 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 Cluster Manager at Kotak Mahindara Life Insurance in India?
The salary growth for a Cluster Manager at Kotak Mahindara Life Insurance depends on factors such as experience, performance, and promotions. On average, a Cluster Manager can expect the following growth trajectory at Kotak Mahindara Life Insurance:

Experience Average Salary Range
6 years ₹7.4 Lakhs to ₹11.7 Lakhs per year
7 years ₹5.5 Lakhs to ₹9.5 Lakhs per year
8 years ₹5.5 Lakhs to ₹9.2 Lakhs per year
9 years ₹5.0 Lakhs to ₹12.5 Lakhs per year
and so on.

Tell us how to improve this page.

Kotak Mahindara Life Insurance Cluster Manager salary in India ranges between ₹5 Lakhs to ₹15 Lakhs with an average annual salary of ₹unlock blur. Salary estimates are based on 34 Kotak Mahindara Life Insurance latest salaries received from various employees of Kotak Mahindara Life Insurance.