Kotak Mahindra Bank Life Insurance Agent Salaries by 4 Employees

0 - 1 year exp.

₹1 Lakh - ₹2.5 Lakhs

Low Confidence

Salary of majority employees

25% less than the average Life Insurance Agent Salary in Banking Companies for 0 - 1 year of experience

Interested in this particular role?

Last Updated: 9 Jun 2023

Companies similar to Kotak Mahindra Bank for Life Insurance Agent

Company name	Avg Annual Salary	Open Jobs
HDFC Life Life Insurance Agent Salary 0 - 5 years exp. (7 salaries)	₹2 L/yr - ₹3.9 L/yr 29% more
SBI Life Insurance Company Life Insurance Agent Salary 0 - 2 years exp. (7 salaries)	₹0.5 L/yr - ₹3.6 L/yr 3% more
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Axis Max Life Insurance Life Insurance Agent Salary 2 - 4 years exp. (5 salaries)	₹2 L/yr - ₹4.5 L/yr 17% more
Bajaj Allianz Life Insurance Life Insurance Agent Salary 1 - 9 years exp. (5 salaries)	₹2.5 L/yr - ₹3.5 L/yr 27% more
State Bank of India Life Insurance Agent Salary 0 - 5 years exp. (4 salaries)	₹1.2 L/yr - ₹6 L/yr 28% more

Life Insurance Agent salary at Kotak Mahindra Bank ranges between ₹1 Lakh to ₹2.5 Lakhs per year for employees with less than 1 year of experience. Salary estimates are based on 4 latest salaries received from various employees of Kotak Mahindra Bank.

Experience wise Kotak Mahindra Bank Life Insurance Agent salaries

Last Updated: 9 Jun 2023

Experience	Avg Annual Salary
Fresher (AmbitionBox Estimate)	₹1 L/yr - ₹2.5 L/yr
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1 year (3 salaries)	₹1 L/yr - ₹2 L/yr

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Salary related reviews for Kotak Mahindra Bank

Life Insurance Advisor in Kolkata

Full Time

Sales & Business Development Department

5.0

• posted on 05 Aug 2024

1.0

for Salary and Benefits

Likes

Company's quick assistance toward their costumer. They resolve any issue of their costumer.

Company culture - Good

+1 more

Dislikes

Getting promotion is very tough there.No fix salary of LA. After completing the criteria within six month,i didn't get to promote in IAP till now.

Salary - Bad

+3 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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Kotak Mahindra Bank Life Insurance Agent Salary FAQs

What is the salary of Life Insurance Agent at Kotak Mahindra Bank ?

The average salary of a Life Insurance Agent at Kotak Mahindra Bank in India typically ranges from ₹1.0 Lakhs to ₹2.5 Lakhs per year, depending on experience (from Fresher to 1 year).

The top 10% of Life Insurance Agent at Kotak Mahindra Bank earn more than ₹2.5 Lakhs per year, and the top 1% earn over ₹NaN Lakhs per year. Life Insurance Agent 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 4 Kotak Mahindra Bank employees in India.

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

The estimated take-home salary of a Life Insurance Agent at Kotak Mahindra Bank in India typically ranges from ₹14,399 to ₹15,914 per month. This is based on the average salary range of ₹1.0 Lakhs to ₹2.5 Lakhs per year for employees with experience ranging from Fresher to 1 year.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 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 Life Insurance Agent in India?

HDFC Life	₹2.0 Lakhs to ₹3.9 Lakhs per year
State Bank of India	₹1.2 Lakhs to ₹6.0 Lakhs per year
Bajaj Allianz Life Insurance	₹2.5 Lakhs to ₹3.5 Lakhs per year
Axis Max Life Insurance	₹2.0 Lakhs to ₹4.5 Lakhs per year
SBI Life Insurance Company	₹0.5 Lakhs to ₹3.6 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.

How the salary growth look like for a Life Insurance Agent at Kotak Mahindra Bank in India?

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

Experience	Average Salary Range
Fresher	₹1.0 Lakhs to ₹2.5 Lakhs per year
1 year	₹1.0 Lakhs to ₹2.0 Lakhs per year

and so on.

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Kotak Mahindra Bank Life Insurance Agent Salaries

Kotak Mahindra Bank Life Insurance Agent salary in India ranges between ₹1 Lakh to ₹2.5 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.