Kotak Mahindra Bank Manager M1 Salaries by 40+ Employees (Updated 2025)

2 - 12 years exp.

₹3 Lakhs - ₹10 Lakhs

Salary of majority employees

48% less than the average Manager M1 Salary in Banking Companies for 2 - 12 years of experience

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Salaries in different departments

BFSI, Investments & Trading Manager M1 Salary 4 - 12 years exp. (14 salaries)	₹4 L/yr - ₹10 L/yr
Sales & Business Development Manager M1 Salary 2 - 9 years exp. (9 salaries)	₹3.3 L/yr - ₹8.6 L/yr
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Customer Success, Service & Operations Manager M1 Salary 2 - 9 years exp. (5 salaries)	₹3.5 L/yr - ₹8.5 L/yr
Finance & Accounting Manager M1 Salary 2 - 10 years exp. (5 salaries)	₹3.5 L/yr - ₹6.1 L/yr
Product Management Manager M1 Salary 3 - 4 years exp. (3 salaries)	₹3.4 L/yr - ₹8.1 L/yr

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Last Updated: 12 Mar 2025

Companies similar to Kotak Mahindra Bank for Manager M1

Company name	Avg Annual Salary	Open Jobs
ICICI Bank Manager M1 Salary 1 - 17 years exp. (1.8k salaries)	₹4.5 L/yr - ₹15 L/yr 72% more
HDFC Bank Manager M1 Salary 5 - 14 years exp. (150 salaries)	₹5 L/yr - ₹12.1 L/yr 38% more
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Axis Bank Manager M1 Salary 5 - 14 years exp. (169 salaries)	₹4.4 L/yr - ₹12 L/yr 31% more
IndusInd Bank Manager M1 Salary 4 - 11 years exp. (46 salaries)	₹3.5 L/yr - ₹8.8 L/yr 7% more
IDFC FIRST Bank Manager M1 Salary 4 - 12 years exp. (44 salaries)	₹5 L/yr - ₹9.5 L/yr 22% more
Yes Bank Manager M1 Salary 1 - 13 years exp. (35 salaries)	₹5.5 L/yr - ₹10.1 L/yr 26% more
RBL Bank Manager M1 Salary 4 - 17 years exp. (19 salaries)	₹5.7 L/yr - ₹11.9 L/yr 27% more
Bandhan Bank Manager M1 Salary 9 - 13 years exp. (10 salaries)	₹7.2 L/yr - ₹9.5 L/yr 38% more
IDBI Bank Manager M1 Salary 5 - 14 years exp. (5 salaries)	₹13.5 L/yr - ₹20 L/yr 196% more
Karur Vysya Bank Manager M1 Salary 6 - 12 years exp. (5 salaries)	₹6 L/yr - ₹9 L/yr 21% more
Bank of Baroda Manager M1 Salary 7 - 10 years exp. (4 salaries)	₹7.5 L/yr - ₹10.5 L/yr 51% more
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Jana Small Finance Bank Manager M1 Salary 10 - 16 years exp. (4 salaries)	₹6 L/yr - ₹6.5 L/yr 5% more
Ujjivan Small Finance Bank Manager M1 Salary 5 - 13 years exp. (4 salaries)	₹4.5 L/yr - ₹6.2 L/yr 10% less

Manager M1 salary at Kotak Mahindra Bank ranges between ₹3 Lakhs to ₹10 Lakhs per year for employees with experience between 2 years to 12 years. Salary estimates are based on 44 latest salaries received from various employees of Kotak Mahindra Bank.

Experience wise Kotak Mahindra Bank Manager M1 salaries

Last Updated: 12 Mar 2025

Experience	Avg Annual Salary
2 years (6 salaries)	₹3 L/yr - ₹6.5 L/yr
3 years (3 salaries)	₹3.4 L/yr - ₹9.5 L/yr
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4 years (8 salaries)	₹3.5 L/yr - ₹8.1 L/yr
5 years (7 salaries)	₹3.7 L/yr - ₹9 L/yr
6 years (3 salaries)	₹4 L/yr - ₹8.6 L/yr
7 years (3 salaries)	₹5.1 L/yr - ₹8.5 L/yr
8 years (6 salaries)	₹3.9 L/yr - ₹8 L/yr
9 years (3 salaries)	₹6.4 L/yr - ₹8.5 L/yr
10 years (AmbitionBox Estimate)	₹4 L/yr - ₹11.8 L/yr
11 years (AmbitionBox Estimate)	₹2.7 L/yr - ₹8.2 L/yr
12 years (AmbitionBox Estimate)	₹2.8 L/yr - ₹10 L/yr

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Similar Designation salaries in Kotak Mahindra Bank

Team Manager Salary

(131 salaries)

₹1.3 L/yr - ₹8.91 L/yr

Area Manager Salary

(94 salaries)

₹7 L/yr - ₹29.92 L/yr

Store Manager Salary

(AmbitionBox Estimate)

₹3.4 L/yr - ₹4.4 L/yr

Team Lead Salary

(423 salaries)

₹1.5 L/yr - ₹6.76 L/yr

Branch Manager Salary

(1.1k salaries)

₹7 L/yr - ₹26 L/yr

Deputy Manager Salary

(11.3k salaries)

₹1.65 L/yr - ₹8.5 L/yr

Program Manager Salary

(10 salaries)

₹7 L/yr - ₹20 L/yr

Project Manager Salary

(60 salaries)

₹5.79 L/yr - ₹24.3 L/yr

Cluster Manager Salary

(63 salaries)

₹3.95 L/yr - ₹16.24 L/yr

Service Manager Salary

(200 salaries)

₹3.5 L/yr - ₹14 L/yr

Salary related reviews for Kotak Mahindra Bank

2.9

Rated by 5 employees for salary & benefits

Deputy Branch Manager in Ahmedabad

Full Time

BFSI, Investments & Trading Department

2.0

• posted on 24 Nov 2024

2.0

for Salary and Benefits

Likes

Timely getting salary .. nothing else

Dislikes

No banking system , customer dissatisfaction, accounts will open 5/7 days after the processing , no worklife balance . Branch manager have to do everything. Recruitment is pathetic. So called RMs are not capable like other bank sales officers also . Bank need business like icici , HDFC , but system is like co operative banks . Products are sucks.

Salary - Poor

+4 more

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

Assistant Vice President in Ernakulam

Full Time

Finance & Accounting Department

4.0

• posted on 02 Jul 2024

1.0

for Salary and Benefits

Likes

Work life balance No bad words from senior managers in my 10 years tenure with Kotak

Skill development - Good

+2 more

Dislikes

Low salary hike every year even for Achievers. If we have grade promotion they will give grade promotion this year and salary hike next year that too 4% extra with normal appraisal.

Salary - Bad

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

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What people are saying about Kotak Mahindra Bank

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malleshkuruva

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Kotak Mahindra Bank

I have bank experience and want to move to the IT sector, any possible? Which cloud is suitable for me.

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Kotak Mahindra Bank Manager M1 Salary FAQs

What is the salary of Manager M1 at Kotak Mahindra Bank ?

The average salary of a Manager M1 at Kotak Mahindra Bank in India typically ranges from ₹3.0 Lakhs to ₹10.0 Lakhs per year, depending on experience (from 2 years to 12 years).

The top 10% of Manager M1 at Kotak Mahindra Bank earn more than ₹8.6 Lakhs per year, and the top 1% earn over ₹10.0 Lakhs per year. Manager M1 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 40+ Kotak Mahindra Bank employees in India.

What is the estimated take home salary of a Manager M1 at Kotak Mahindra Bank in India?

The estimated take-home salary of a Manager M1 at Kotak Mahindra Bank in India typically ranges from ₹45,589 to ₹46,670 per month. This is based on the average salary range of ₹3.0 Lakhs to ₹10.0 Lakhs per year for employees with experience ranging from 2 years to 12 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 40+ 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 Manager M1 in India?

IDBI Bank	₹13.5 Lakhs to ₹20.0 Lakhs per year
ICICI Bank	₹4.5 Lakhs to ₹15.0 Lakhs per year
Bank of Baroda	₹7.5 Lakhs to ₹10.5 Lakhs per year
Bandhan Bank	₹7.2 Lakhs to ₹9.5 Lakhs per year
HDFC Bank	₹5.0 Lakhs to ₹12.1 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 Manager M1 in companies similar to Kotak Mahindra Bank in India?

The salary of a Manager M1 at companies similar to Kotak Mahindra Bank in India varies, depending on the role, experience, and company size. Here are the typical salary ranges:

Axis Bank	₹4.4 Lakhs to ₹12.0 Lakhs per year
RBL Bank	₹5.7 Lakhs to ₹11.9 Lakhs per year
Yes Bank	₹5.5 Lakhs to ₹10.1 Lakhs per year
IDFC FIRST Bank	₹5.0 Lakhs to ₹9.5 Lakhs per year
Karur Vysya Bank	₹6.0 Lakhs to ₹9.0 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 Manager M1 at Kotak Mahindra Bank in India?

The salary growth for a Manager M1 at Kotak Mahindra Bank depends on factors such as experience, performance, and promotions. On average, a Manager M1 can expect the following growth trajectory at Kotak Mahindra Bank:

Experience	Average Salary Range
2 years	₹3.0 Lakhs to ₹6.5 Lakhs per year
3 years	₹3.4 Lakhs to ₹9.5 Lakhs per year
4 years	₹3.5 Lakhs to ₹8.1 Lakhs per year
5 years	₹3.7 Lakhs to ₹9.0 Lakhs per year

and so on.

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Kotak Mahindra Bank Manager M1 Salaries

Kotak Mahindra Bank Manager M1 salary in India ranges between ₹3 Lakhs to ₹10 Lakhs with an average annual salary of ₹. Salary estimates are based on 44 Kotak Mahindra Bank latest salaries received from various employees of Kotak Mahindra Bank.