Kotak Mahindra Bank Insurance Manager Salaries by 4 Employees (Updated 2025)

1 - 9 years exp.

₹2.8 Lakhs - ₹4 Lakhs

Low Confidence

Salary of majority employees

14% less than the average Insurance Manager Salary in Banking Companies for 1 - 9 years of experience

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Last Updated: 12 Mar 2023

Companies similar to Kotak Mahindra Bank for Insurance Manager

Company name	Avg Annual Salary	Open Jobs
HDFC Bank Insurance Manager Salary 0 - 4 years exp. (5 salaries)	₹1.5 L/yr - ₹7.2 L/yr 88% more
ICICI Bank Insurance Manager Salary 1 - 6 years exp. (4 salaries)	₹3 L/yr - ₹8.8 L/yr 63% more
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IndusInd Bank Insurance Manager Salary 3 - 11 years exp. (4 salaries)	₹2.6 L/yr - ₹6.4 L/yr 26% more
IDFC FIRST Bank Insurance Manager Salary 2 - 6 years exp. (3 salaries)	₹3.8 L/yr - ₹4 L/yr 12% more
PNB MetLife Insurance Manager Salary 1 - 8 years exp. (63 salaries)	₹0.6 L/yr - ₹5.3 L/yr 8% more

Insurance Manager salary at Kotak Mahindra Bank ranges between ₹2.8 Lakhs to ₹4 Lakhs per year for employees with experience between 1 year to 9 years. Salary estimates are based on 4 latest salaries received from various employees of Kotak Mahindra Bank.

Experience wise Kotak Mahindra Bank Insurance Manager salaries

Last Updated: 12 Mar 2023

Experience	Avg Annual Salary
1 year (AmbitionBox Estimate)	₹2.8 L/yr - ₹5 L/yr
2 years (AmbitionBox Estimate)	₹2.7 L/yr - ₹3.4 L/yr
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3 years (AmbitionBox Estimate)	₹2.8 L/yr - ₹3.6 L/yr
4 years (AmbitionBox Estimate)	₹3 L/yr - ₹3.8 L/yr
5 years (AmbitionBox Estimate)	₹3.1 L/yr - ₹4 L/yr
6 years (AmbitionBox Estimate)	₹3.3 L/yr - ₹4.2 L/yr
7 years (AmbitionBox Estimate)	₹1.5 L/yr - ₹4 L/yr
8 years (AmbitionBox Estimate)	₹1.6 L/yr - ₹4 L/yr
9 years (AmbitionBox Estimate)	₹4 L/yr - ₹4 L/yr

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Salary related reviews for Kotak Mahindra Bank

4.0

Rated by 1 employees for salary & benefits

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

Deputy Manager in Thane

Full Time

Customer Success, Service & Operations Department

3.0

• posted on 18 Nov 2023

2.0

for Salary and Benefits

Likes

Work profile and process is good.

Dislikes

Bad management they hire TL who ask money from their employees and do not return. no work-life balance less salary package only fancy designations are given which does not have a value in the market if u go out.No job security HR listens more to management then employees do not support after you leave the job or be on the job.They do not invest in their system updates but only on themselves.

Salary - Poor

+4 more

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a senior quality lead

Help me with in hand salary

Hi All, I'm so much confused in calculating my in hand salary by excluding the variable pay. Anyhow variable pay will have 30% tax directly on it. So by excluding If I calculate my monthly inhand using old and as well as new regime of 2025. I don't know which one to choose and which is best for me. Currently 80C is 1.5lakhs and 80D is 50k and Rent paid was around 75k help me to calculate in hand as per the above assumptions

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Kotak Mahindra Bank Insurance Manager Salary FAQs

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

Insurance Manager salary at Kotak Mahindra Bank in India ranges between ₹2.8 Lakhs to ₹4.0 Lakhs for experience between 1 years to 9 years. According to our estimates it is 14% less than the average Insurance Manager Salary in India. Salary estimates are based on 4 latest salaries received from various employees of Kotak Mahindra Bank India.

How does the salary of a Insurance Manager at Kotak Mahindra Bank India compare with the average salary range for this job?

The average salary of a Insurance Manager at Kotak Mahindra Bank is 14% less than the average salary of a Insurance Manager in India. To know exact salary insights, login to view.

Which similar companies are paying more than Kotak Mahindra Bank to a Insurance Manager in India?

HDFC Bank Insurance Manager Salary - ₹1.5 Lakhs to ₹7.2 Lakhs per year
ICICI Bank Insurance Manager Salary - ₹3.0 Lakhs to ₹8.8 Lakhs per year
IndusInd Bank Insurance Manager Salary - ₹2.6 Lakhs to ₹6.4 Lakhs per year
IDFC FIRST Bank Insurance Manager Salary - ₹3.8 Lakhs to ₹4.0 Lakhs per year
PNB MetLife Insurance Manager Salary - ₹0.6 Lakhs to ₹5.3 Lakhs per year

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

The estimated take-home salary of a Insurance Manager at Kotak Mahindra Bank ranges between ₹25,183 per month to ₹26,619 per month in India. The take-home salary calculation is based on the average Kotak Mahindra Bank Insurance Manager salary in India which ranges between ₹2.8 Lakhs to ₹4.0 Lakhs per year for employees with experience between 1 years to 9 years. Check how did we calculate take home salary?

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Kotak Mahindra Bank Insurance Manager Salaries

Kotak Mahindra Bank Insurance Manager salary in India ranges between ₹2.8 Lakhs to ₹4 Lakhs with an average annual salary of ₹. Salary estimates are based on 4 Kotak Mahindra Bank latest salaries received from various employees of Kotak Mahindra Bank.

Kotak Mahindra Bank Insurance Manager salaries in India

Companies similar to Kotak Mahindra Bank for Insurance Manager

Latest annual salaries shared by Kotak Mahindra Bank Insurance Manager

Experience wise Kotak Mahindra Bank Insurance Manager salaries

Similar Designation salaries in Kotak Mahindra Bank

Salary related reviews for Kotak Mahindra Bank

Deputy Manager in Mumbai

Deputy Manager in Vadodara

Deputy Manager in Kolkata

Deputy Manager in Mumbai

Deputy Manager in Thane

Kotak Mahindra Bank Insurance Manager Salary FAQs

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