Kotak Mahindara Life Insurance Development Officer Salaries by 4 Employees (Updated 2025)

2 - 5 years exp.

₹2.1 Lakhs - ₹6 Lakhs

Low Confidence

Avg. annual salary

Monthly In-hand Salary

47% less than the average Development Officer Salary in Insurance Companies for 2 - 5 years of experience

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Last Updated: 16 Mar 2025

Companies similar to Kotak Mahindara Life Insurance for Development Officer

Company name	Avg Annual Salary	Open Jobs
Shriram Life Insurance Development Officer Salary 1 - 5 years exp. (6 salaries)	₹1 L/yr - ₹3 L/yr 33% less
The Oriental Insurance Co. Development Officer Salary 15 - 25 years exp. (6 salaries)	₹2.9 L/yr - ₹11.5 L/yr 117% more
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Bajaj Allianz Life Insurance Development Officer Salary 2 - 7 years exp. (6 salaries)	₹2 L/yr - ₹3.5 L/yr 16% less
Reliance Nippon Life Insurance Development Officer Salary 0 - 2 years exp. (5 salaries)	₹1.8 L/yr - ₹2.4 L/yr 34% less
Star Health & Allied Insurance Development Officer Salary 4 - 6 years exp. (4 salaries)	₹1.8 L/yr - ₹4 L/yr At par
The New India Assurance Co. Development Officer Salary 27 - 31 years exp. (3 salaries)	₹15 L/yr - ₹20 L/yr 417% more
HDFC Life Development Officer Salary 2 - 3 years exp. (3 salaries)	₹3 L/yr - ₹5 L/yr 20% more

Development Officer salary at Kotak Mahindara Life Insurance ranges between ₹2.1 Lakhs to ₹6 Lakhs per year for employees with experience between 2 years to 5 years. Salary estimates are based on 4 latest salaries received from various employees of Kotak Mahindara Life Insurance.

Experience wise Kotak Mahindara Life Insurance Development Officer salaries

Last Updated: 16 Mar 2025

Experience	Avg Annual Salary
2 years (AmbitionBox Estimate)	₹2 L/yr - ₹2 L/yr
3 years (AmbitionBox Estimate)	₹2.5 L/yr - ₹3.1 L/yr
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4 years (AmbitionBox Estimate)	₹1.4 L/yr - ₹4.5 L/yr
5 years (AmbitionBox Estimate)	₹2.5 L/yr - ₹6 L/yr

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Salary related reviews for Kotak Mahindara Life Insurance

5.0

Rated by 2 employees for salary & benefits

Sales Manager in Mumbai

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."

Salary - Bad

+2 more

Deputy Manager in Mumbai

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

Skill development - Poor

+4 more

Sales Associate in New Delhi

Full Time

Sales & Business Development Department

1.0

• posted on 14 May 2024

1.0

for Salary and Benefits

Likes

Job Security

Dislikes

Top Most Management in this company is worst; decision-making skills are very low Salary packages are very low for junior profiles but there work load is huge as compared with there senior profiles. Zero salary hikes and annual bonuses also depend on your boss; if he wants to give you 100,000, you will get it; if he wants to give you 10,000, that is your bonus. Huge package difference between senior boss and junior employees (ex., senior . Sr. boss package is above 30 Lacs but junior package is below 5 Lacs), Very little appreciation employees

Salary - Bad

+5 more

Relationship Manager in Kolkata

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..

Dislikes

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

Salary - Bad

+6 more

Deputy Manager in Thane

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

Salary - Poor

+5 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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Kotak Mahindara Life Insurance Development Officer Salary FAQs

What is the salary of Development Officer at Kotak Mahindara Life Insurance ?

The average salary of a Development Officer at Kotak Mahindara Life Insurance in India typically ranges from ₹2.1 Lakhs to ₹6.0 Lakhs per year, depending on experience (from 2 years to 5 years).

The top 10% of Development Officer at Kotak Mahindara Life Insurance earn more than ₹6.0 Lakhs per year, and the top 1% earn over ₹6.0 Lakhs per year. Development Officer 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 4 Kotak Mahindara Life Insurance employees in India.

What is the estimated take home salary of a Development Officer at Kotak Mahindara Life Insurance in India?

The estimated take-home salary of a Development Officer at Kotak Mahindara Life Insurance in India typically ranges from ₹23,296 to ₹24,760 per month. This is based on the average salary range of ₹2.1 Lakhs to ₹6.0 Lakhs per year for employees with experience ranging from 2 years to 5 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 Kotak Mahindara Life Insurance. Check how we calculate in-hand salary with our in-hand salary calculator.

Which companies offer higher salaries than Kotak Mahindara Life Insurance for Development Officer in India?

The New India Assurance Co.	₹15.0 Lakhs to ₹20.0 Lakhs per year
The Oriental Insurance Co.	₹2.9 Lakhs to ₹11.5 Lakhs per year
HDFC Life	₹3.0 Lakhs to ₹5.0 Lakhs per year
Star Health & Allied Insurance	₹1.8 Lakhs to ₹4.0 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 Development Officer in companies similar to Kotak Mahindara Life Insurance in India?

The salary of a Development Officer 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:

Bajaj Allianz Life Insurance	₹2.0 Lakhs to ₹3.5 Lakhs per year
Shriram Life Insurance	₹1.0 Lakhs to ₹3.0 Lakhs per year
Reliance Nippon Life Insurance	₹1.8 Lakhs to ₹2.4 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 Development Officer at Kotak Mahindara Life Insurance in India?

The salary growth for a Development Officer at Kotak Mahindara Life Insurance depends on factors such as experience, performance, and promotions. On average, a Development Officer can expect the following growth trajectory at Kotak Mahindara Life Insurance:

Experience	Average Salary Range
2 years	₹2.0 Lakhs to ₹2.0 Lakhs per year
3 years	₹2.5 Lakhs to ₹3.1 Lakhs per year
4 years	₹1.4 Lakhs to ₹4.5 Lakhs per year
5 years	₹2.5 Lakhs to ₹6.0 Lakhs per year

and so on.

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Kotak Mahindara Life Insurance Development Officer Salaries

Kotak Mahindara Life Insurance Development Officer salary in India ranges between ₹2.1 Lakhs to ₹6 Lakhs with an average annual salary of ₹. Salary estimates are based on 4 Kotak Mahindara Life Insurance latest salaries received from various employees of Kotak Mahindara Life Insurance.