Kotak Mahindra Bank Mumbai Cluster Manager Salaries by 6 Employees (Updated 2025)

9 - 14 years exp.

₹9 Lakhs - ₹22.5 Lakhs

Avg. annual salary

Monthly In-hand Salary

26% more than the average Cluster Manager Salary in Banking Companies for 9 - 14 years of experience

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Salaries in different departments

BFSI, Investments & Trading Cluster Manager Salary 10 - 14 years exp. (5 salaries)	₹9 L/yr - ₹22.5 L/yr
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Sales & Business Development Cluster Manager Salary 9 years exp. (AmbitionBox Estimate)	₹7.8 L/yr - ₹14 L/yr

Last Updated: 2 Mar 2025

Companies similar to Kotak Mahindra Bank for Cluster Manager in Mumbai

Kotak Mahindra Bank Cluster Manager Salary

9 - 14 years exp. (6 salaries)

₹9 L/yr - ₹22.5 L/yr

Company name	Avg Annual Salary	Open Jobs
Ujjivan Small Finance Bank Cluster Manager Salary 6 - 15 years exp. (12 salaries)	₹5.6 L/yr - ₹10.5 L/yr 34% less	1 job opening
IDFC FIRST Bank Cluster Manager Salary 8 - 16 years exp. (7 salaries)	₹10.5 L/yr - ₹21 L/yr 28% more
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Axis Bank Cluster Manager Salary 8 - 13 years exp. (6 salaries)	₹6.5 L/yr - ₹12 L/yr 12% less
Yes Bank Cluster Manager Salary 3 - 15 years exp. (4 salaries)	₹8.8 L/yr - ₹12.2 L/yr 16% less
Reliance Retail Cluster Manager Salary 9 - 20 years exp. (40 salaries)	₹6.5 L/yr - ₹17 L/yr 3% less

Cluster Manager salary at Kotak Mahindra Bank ranges between ₹9 Lakhs to ₹22.5 Lakhs per year for employees with experience between 9 years to 14 years. Salary estimates are based on 6 latest salaries received from various employees of Kotak Mahindra Bank.

Experience wise Kotak Mahindra Bank Cluster Manager salaries in Mumbai

Last Updated: 2 Mar 2025

Experience	Avg Annual Salary
9 years (AmbitionBox Estimate)	₹10.6 L/yr - ₹13.6 L/yr
10 years (AmbitionBox Estimate)	₹11.3 L/yr - ₹14.4 L/yr
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11 years (AmbitionBox Estimate)	₹12 L/yr - ₹15.3 L/yr
12 years (AmbitionBox Estimate)	₹12.6 L/yr - ₹16.1 L/yr
13 years (AmbitionBox Estimate)	₹13.3 L/yr - ₹17 L/yr
14 years (AmbitionBox Estimate)	₹14 L/yr - ₹17.8 L/yr

View all

Similar Designation salaries in Kotak Mahindra Bank

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Relationship Manager Salary

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₹1.8 L/yr - ₹10 L/yr

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₹10 L/yr - ₹30 L/yr

Sales Manager Salary

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Area Sales Manager Salary

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Area Manager Salary

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₹9 L/yr - ₹28.72 L/yr

Business Manager Salary

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₹11.5 L/yr - ₹15.4 L/yr

Territory Manager Salary

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₹10 L/yr - ₹15 L/yr

Salary related reviews for Kotak Mahindra Bank

3.0

Rated by 1 employees for salary & benefits

Cluster Head in Shivamogga

Full Time

Other Department

1.0

• posted on 15 Nov 2024

1.0

for Salary and Benefits

Likes

No much applications at branches but very lengthy processes which save the risk on the jobs of employees but the processes take longer time to operate

Dislikes

Salary levels are below par the competition, top management reluctant to retain the performers. Infr & technology are poor which need to be upgraded but reluctant to invest. Looks like more or less an NBFC while driving business

Salary - Bad

+6 more

Deputy Manager in Mumbai

Full Time

Finance & Accounting Department

3.0

• posted on 11 Jun 2024

2.0

for Salary and Benefits

Likes

The company is good if you are mediocre in performance and can live with less payment. The company has less clients and similary cannot pay employees much. They have very less promotion buckets and blatantly lie to people for the same.

Job security - Good

+2 more

Dislikes

Salary, promortion - these are the worst over here.

Salary - Poor

+1 more

Deputy Manager in Vadodara

Full Time

BFSI, Investments & Trading Department

1.0

• posted on 18 May 2024

3.0

for Salary and Benefits

Likes

Kotak pays good salary and promotions are totally based on your performance.

Skill development - Good

+1 more

Dislikes

The attrition rate is 56%, one of the highest in the industry. You don't get Saturdays and they act fussy when you ask for a well deserved general leave. The pressure of doing sales is eminent, even in impossible scenarios. The new CEO wants to make it JP morgan of India, but the way they are doing it is laughable.

Work satisfaction - Bad

+2 more

Deputy Manager in Kolkata

Full Time

Sales & Business Development Department

1.0

• posted on 10 Mar 2024

2.0

for Salary and Benefits

Likes

Apprisal system is based on own performance and productivity. No recommendation required from the any line managers.

Job security - Good

Dislikes

Not pay enough as per the industry. No work life balance as you have to work on weekends and public holidays. Toxic work culture along with bad words if sales is not happening. If sale's not completed the you have to spend your own money for the target achievement.

Salary - Poor

+4 more

Deputy Manager in Mumbai

Full Time

Finance & Accounting Department

3.0

• posted on 30 Dec 2023

3.0

for Salary and Benefits

Likes

Work life balance is very good. That is the only good part.

Work-life balance - Good

Dislikes

Gratuity to be paid after 5 yrs is added in CTC. Salary hike is not more than 5% if ur not a CA. Manager will forcibly tell us to come to Diwali party and other festivities but will not pay a single rupee for food and fun activities. Employees are forced to pay. Even picnics are organised on employee money but bank does not pays a single rupee. And if any employee refuses to pay then they r accused on non bonding wid team.

Skill development - Poor

+1 more

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What people are saying about Kotak Mahindra Bank

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a manager

Ambiguity in JOB offer.

I recently changed my Job as Business Manager with Arka Fincap, but some how I also selected as BM(Branch manager) with HDB financial and Varthana finance. I am very confused, to what I will do. CTC would be same approximately. Suggest me right decision with reason... 1. I can continue with Arka Fincap. 2. Will join HDB financial as BM. 3. Will join Varthana finance as BM. Your feedback will be appreciated.

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Kotak Mahindra Bank Cluster Manager Salary FAQs

What is the salary of Cluster Manager at Kotak Mahindra Bank in Mumbai?

The average salary of a Cluster Manager at Kotak Mahindra Bank in Mumbai typically ranges from ₹9.0 Lakhs to ₹22.5 Lakhs per year, depending on experience (from 9 years to 14 years).

The top 10% of Cluster Manager in Mumbai at Kotak Mahindra Bank earn more than ₹22.3 Lakhs per year, and the top 1% earn over ₹22.5 Lakhs per year. Cluster Manager Salaries at Kotak Mahindra Bank 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 Kotak Mahindra Bank employees in India.

What is the estimated take home salary of a Cluster Manager at Kotak Mahindra Bank in Mumbai?

The estimated take-home salary of a Cluster Manager at Kotak Mahindra Bank in Mumbai typically ranges from ₹88,946 to ₹91,282 per month. This is based on the average salary range of ₹9.0 Lakhs to ₹22.5 Lakhs per year for employees with experience ranging from 9 years to 14 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 Kotak Mahindra Bank. Check how we calculate in-hand salary with our in-hand salary calculator.

Which companies offer higher salaries than Kotak Mahindra Bank for Cluster Manager in India?

IDFC FIRST Bank

₹10.5 Lakhs to ₹21.0 Lakhs per year

These companies are known for offering competitive compensation packages that can exceed the salary offered by Kotak Mahindra Bank, depending on the role and experience level.

What is the salary of a Cluster Manager in companies similar to Kotak Mahindra Bank in Mumbai?

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

Reliance Retail	₹6.5 Lakhs to ₹17.0 Lakhs per year
Axis Bank	₹6.5 Lakhs to ₹12.0 Lakhs per year
Yes Bank	₹8.8 Lakhs to ₹12.2 Lakhs per year
Ujjivan Small Finance Bank	₹5.6 Lakhs to ₹10.5 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 Cluster Manager at Kotak Mahindra Bank in Mumbai?

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

Experience	Average Salary Range
9 years	₹10.6 Lakhs to ₹13.6 Lakhs per year
10 years	₹11.3 Lakhs to ₹14.4 Lakhs per year
11 years	₹12.0 Lakhs to ₹15.3 Lakhs per year
12 years	₹12.6 Lakhs to ₹16.1 Lakhs per year

and so on.

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Kotak Mahindra Bank Cluster Manager Salaries in Mumbai

Kotak Mahindra Bank Cluster Manager salary in Mumbai ranges between ₹9 Lakhs to ₹22.5 Lakhs with an average annual salary of ₹. Salary estimates are based on 6 Kotak Mahindra Bank latest salaries received from various employees of Kotak Mahindra Bank.