Kotak Mahindra Bank Department Manager Salaries by 10+ Employees

2 - 10 years exp.

₹2.8 Lakhs - ₹4.9 Lakhs

Salary of majority employees

21% less than the average Department Manager Salary in Banking Companies for 2 - 10 years of experience

Interested in this particular role?

Salaries in different departments

Sales & Business Development Department Manager Salary 3 - 10 years exp. (4 salaries)	₹3.5 L/yr - ₹4.5 L/yr
BFSI, Investments & Trading Department Manager Salary 7 years exp. (AmbitionBox Estimate)	₹4.1 L/yr - ₹4.2 L/yr
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Customer Success, Service & Operations Department Manager Salary 3 years exp. (AmbitionBox Estimate)	₹2.8 L/yr - ₹3.9 L/yr

Last Updated: 9 Feb 2024

Companies similar to Kotak Mahindra Bank for Department Manager

Company name	Avg Annual Salary	Open Jobs
ICICI Bank Department Manager Salary 0 - 12 years exp. (31 salaries)	₹3 L/yr - ₹10 L/yr 25% more
HDFC Bank Department Manager Salary 1 - 9 years exp. (28 salaries)	₹3.5 L/yr - ₹10.7 L/yr 49% more
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IndusInd Bank Department Manager Salary 1 - 12 years exp. (14 salaries)	₹3.6 L/yr - ₹4.9 L/yr 1% more
Axis Bank Department Manager Salary 0 - 8 years exp. (14 salaries)	₹4.3 L/yr - ₹9.3 L/yr 36% more
Yes Bank Department Manager Salary 2 - 6 years exp. (6 salaries)	₹4 L/yr - ₹8.3 L/yr 29% more
IDFC FIRST Bank Department Manager Salary 3 - 5 years exp. (5 salaries)	₹3.4 L/yr - ₹9.8 L/yr 43% more
IDBI Bank Department Manager Salary 0 - 12 years exp. (4 salaries)	₹6.8 L/yr - ₹23 L/yr 259% more
RBL Bank Department Manager Salary 4 - 10 years exp. (4 salaries)	₹6.5 L/yr - ₹18 L/yr 168% more
HSBC Global Banking and Markets Department Manager Salary 4 - 14 years exp. (3 salaries)	₹10.3 L/yr - ₹12 L/yr 170% more
Ujjivan Small Finance Bank Department Manager Salary 2 - 8 years exp. (3 salaries)	₹3.4 L/yr - ₹6 L/yr 6% more
Karur Vysya Bank Department Manager Salary 1 - 9 years exp. (3 salaries)	₹8 L/yr - ₹16 L/yr 165% more
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Department Manager salary at Kotak Mahindra Bank ranges between ₹2.8 Lakhs to ₹4.9 Lakhs per year for employees with experience between 2 years to 10 years. Salary estimates are based on 11 latest salaries received from various employees of Kotak Mahindra Bank.

Experience wise Kotak Mahindra Bank Department Manager salaries

Last Updated: 9 Feb 2024

Experience	Avg Annual Salary
2 years (3 salaries)	₹3.5 L/yr - ₹4.9 L/yr
3 years (AmbitionBox Estimate)	₹2.8 L/yr - ₹4.5 L/yr
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4 years (AmbitionBox Estimate)	₹1.7 L/yr - ₹4.5 L/yr
5 years (AmbitionBox Estimate)	₹3.8 L/yr - ₹7.5 L/yr
6 years (AmbitionBox Estimate)	₹3.7 L/yr - ₹4.8 L/yr
7 years (AmbitionBox Estimate)	₹3.5 L/yr - ₹7.5 L/yr
8 years (AmbitionBox Estimate)	₹3.7 L/yr - ₹4.7 L/yr
9 years (AmbitionBox Estimate)	₹3.7 L/yr - ₹4.7 L/yr
10 years (AmbitionBox Estimate)	₹3.5 L/yr - ₹7.4 L/yr

View all

Similar Designation salaries in Kotak Mahindra Bank

Deputy Manager Salary

(11.4k salaries)

₹1.65 L/yr - ₹8.5 L/yr

Operations Manager Salary

(256 salaries)

₹2 L/yr - ₹12 L/yr

Store Manager Salary

(AmbitionBox Estimate)

₹3.4 L/yr - ₹4.4 L/yr

Sales Manager Salary

(749 salaries)

₹2.17 L/yr - ₹10 L/yr

Warehouse Manager Salary

(AmbitionBox Estimate)

₹0.2 L/yr - ₹0.2 L/yr

Assistant Department Manager Salary

(AmbitionBox Estimate)

₹2.7 L/yr - ₹3.5 L/yr

Head Cashier Salary

(5 salaries)

₹2.45 L/yr - ₹6.55 L/yr

Team Lead Salary

(417 salaries)

₹1.5 L/yr - ₹6.75 L/yr

Assistant Store Manager Salary

(AmbitionBox Estimate)

₹2.1 L/yr - ₹2.6 L/yr

Store Incharge Salary

(AmbitionBox Estimate)

₹5.6 L/yr - ₹7.1 L/yr

Salary related reviews for Kotak Mahindra Bank

4.3

Rated by 6 employees for salary & benefits

Operations Manager in Goregaon

Full Time

BFSI, Investments & Trading Department

4.0

• posted on 06 Nov 2024

1.0

for Salary and Benefits

Likes

There is no work pressure its harmful for your future

Job security - Excellent

Dislikes

...s per system constraint kotak bank not developed as compared to hdfc axis icici.also so many employees left the job from kotak because kotak gives very less salary to there staff

Salary - Bad

+5 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

see more salary related reviews

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What people are saying about Kotak Mahindra Bank

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Kotak Mahindra Bank Department Manager Salary FAQs

What is the salary of Department Manager at Kotak Mahindra Bank ?

The average salary of a Department Manager at Kotak Mahindra Bank in India typically ranges from ₹2.8 Lakhs to ₹4.9 Lakhs per year, depending on experience (from 2 years to 10 years).

The top 10% of Department Manager at Kotak Mahindra Bank earn more than ₹4.7 Lakhs per year, and the top 1% earn over ₹4.9 Lakhs per year. Department 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 10+ Kotak Mahindra Bank employees in India.

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

The estimated take-home salary of a Department Manager at Kotak Mahindra Bank in India typically ranges from ₹30,778 to ₹32,081 per month. This is based on the average salary range of ₹2.8 Lakhs to ₹4.9 Lakhs per year for employees with experience ranging from 2 years to 10 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 10+ 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 Department Manager in India?

IDBI Bank	₹6.8 Lakhs to ₹23.0 Lakhs per year
HSBC Global Banking and Markets	₹10.3 Lakhs to ₹12.0 Lakhs per year
RBL Bank	₹6.5 Lakhs to ₹18.0 Lakhs per year
Karur Vysya Bank	₹8.0 Lakhs to ₹16.0 Lakhs per year
HDFC Bank	₹3.5 Lakhs to ₹10.7 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 Department Manager in companies similar to Kotak Mahindra Bank in India?

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

IDFC FIRST Bank	₹3.4 Lakhs to ₹9.8 Lakhs per year
Axis Bank	₹4.3 Lakhs to ₹9.3 Lakhs per year
Yes Bank	₹4.0 Lakhs to ₹8.3 Lakhs per year
ICICI Bank	₹3.0 Lakhs to ₹10.0 Lakhs per year
Ujjivan Small Finance Bank	₹3.4 Lakhs to ₹6.0 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 Department Manager at Kotak Mahindra Bank in India?

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

Experience	Average Salary Range
2 years	₹3.5 Lakhs to ₹4.9 Lakhs per year
3 years	₹2.8 Lakhs to ₹4.5 Lakhs per year
4 years	₹1.7 Lakhs to ₹4.5 Lakhs per year
5 years	₹3.8 Lakhs to ₹7.5 Lakhs per year

and so on.

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Kotak Mahindra Bank Department Manager Salaries

Kotak Mahindra Bank Department Manager salary in India ranges between ₹2.8 Lakhs to ₹4.9 Lakhs with an average annual salary of ₹. Salary estimates are based on 11 Kotak Mahindra Bank latest salaries received from various employees of Kotak Mahindra Bank.