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

2 - 12 years exp.

₹3 Lakhs - ₹10 Lakhs

Salary of majority employees

49% 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. (13 salaries)	₹4 L/yr - ₹10 L/yr
Sales & Business Development Manager M1 Salary 2 - 9 years exp. (8 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 - ₹5.9 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: 17 Feb 2025

Companies similar to Kotak Mahindra Bank for Manager M1

Company name	Avg Annual Salary	Open Jobs
HDFC Bank Manager M1 Salary 5 - 14 years exp. (148 salaries)	₹5 L/yr - ₹13.3 L/yr 42% more
ICICI Bank Manager M1 Salary 1 - 17 years exp. (1.6k salaries)	₹4.5 L/yr - ₹15 L/yr 76% more
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Axis Bank Manager M1 Salary 5 - 14 years exp. (164 salaries)	₹4.2 L/yr - ₹12 L/yr 34% more
Yes Bank Manager M1 Salary 1 - 13 years exp. (35 salaries)	₹5.5 L/yr - ₹10.1 L/yr 29% more
IndusInd Bank Manager M1 Salary 4 - 11 years exp. (44 salaries)	₹3.5 L/yr - ₹8.8 L/yr 10% more
IDFC FIRST Bank Manager M1 Salary 4 - 12 years exp. (44 salaries)	₹5 L/yr - ₹9.5 L/yr 24% more
RBL Bank Manager M1 Salary 4 - 17 years exp. (19 salaries)	₹5.7 L/yr - ₹11.9 L/yr 31% more
Bandhan Bank Manager M1 Salary 9 - 13 years exp. (10 salaries)	₹7.2 L/yr - ₹9.5 L/yr 41% more
IDBI Bank Manager M1 Salary 5 - 14 years exp. (5 salaries)	₹13.5 L/yr - ₹20 L/yr 202% more
Karur Vysya Bank Manager M1 Salary 6 - 12 years exp. (5 salaries)	₹6 L/yr - ₹9 L/yr 24% more
Bank of Baroda Manager M1 Salary 7 - 10 years exp. (4 salaries)	₹7.5 L/yr - ₹10.5 L/yr 55% 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 2% more
Ujjivan Small Finance Bank Manager M1 Salary 5 - 13 years exp. (4 salaries)	₹4.5 L/yr - ₹6.2 L/yr 8% 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 42 latest salaries received from various employees of Kotak Mahindra Bank.

Experience wise Kotak Mahindra Bank Manager M1 salaries

Last Updated: 17 Feb 2025

Experience	Avg Annual Salary
2 years (6 salaries)	₹3 L/yr - ₹6.5 L/yr
3 years (3 salaries)	₹3.4 L/yr - ₹9.3 L/yr
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4 years (8 salaries)	₹3.5 L/yr - ₹8.1 L/yr
5 years (6 salaries)	₹3.7 L/yr - ₹9 L/yr
6 years (AmbitionBox Estimate)	₹4 L/yr - ₹6.5 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)	₹2.5 L/yr - ₹8.5 L/yr
10 years (AmbitionBox Estimate)	₹4 L/yr - ₹11.5 L/yr
11 years (AmbitionBox Estimate)	₹2.6 L/yr - ₹8.2 L/yr
12 years (AmbitionBox Estimate)	₹2.7 L/yr - ₹10 L/yr

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Similar Designation salaries in Kotak Mahindra Bank

Team Manager Salary

(122 salaries)

₹1.3 L/yr - ₹10.52 L/yr

Area Manager Salary

(92 salaries)

₹7 L/yr - ₹27.05 L/yr

Store Manager Salary

(AmbitionBox Estimate)

₹3.4 L/yr - ₹4.4 L/yr

Team Lead Salary

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₹1.5 L/yr - ₹7 L/yr

Branch Manager Salary

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₹7 L/yr - ₹25.56 L/yr

Deputy Manager Salary

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₹1.65 L/yr - ₹8.5 L/yr

Program Manager Salary

(10 salaries)

₹7 L/yr - ₹20 L/yr

Project Manager Salary

(64 salaries)

₹6.24 L/yr - ₹23.98 L/yr

Cluster Manager Salary

(63 salaries)

₹3.95 L/yr - ₹16.24 L/yr

Service Manager Salary

(213 salaries)

₹2.92 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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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 Manager M1 Salary FAQs

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

Manager M1 salary at Kotak Mahindra Bank in India ranges between ₹3.0 Lakhs to ₹10.0 Lakhs for experience between 2 years to 12 years. According to our estimates it is 49% less than the average Manager M1 Salary in India. Salary estimates are based on 42 latest salaries received from various employees of Kotak Mahindra Bank India.

How does the salary of a Manager M1 at Kotak Mahindra Bank India compare with the average salary range for this job?

The average salary of a Manager M1 at Kotak Mahindra Bank is 49% less than the average salary of a Manager M1 in India. To know exact salary insights, login to view.

Which similar companies are paying more than Kotak Mahindra Bank to a Manager M1 in India?

IDBI Bank Manager M1 Salary - ₹13.5 Lakhs to ₹20.0 Lakhs per year
ICICI Bank Manager M1 Salary - ₹4.5 Lakhs to ₹15.0 Lakhs per year
Bank of Baroda Manager M1 Salary - ₹7.5 Lakhs to ₹10.5 Lakhs per year
HDFC Bank Manager M1 Salary - ₹5.0 Lakhs to ₹13.3 Lakhs per year
Bandhan Bank Manager M1 Salary - ₹7.2 Lakhs to ₹9.5 Lakhs per year

What is the salary of a Manager M1 in companies similar to Kotak Mahindra Bank in India?

Axis Bank Manager M1 Salary - ₹4.2 Lakhs to ₹12.0 Lakhs per year
RBL Bank Manager M1 Salary - ₹5.7 Lakhs to ₹11.9 Lakhs per year
Yes Bank Manager M1 Salary - ₹5.5 Lakhs to ₹10.1 Lakhs per year
IDFC FIRST Bank Manager M1 Salary - ₹5.0 Lakhs to ₹9.5 Lakhs per year
Karur Vysya Bank Manager M1 Salary - ₹6.0 Lakhs to ₹9.0 Lakhs per year

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 ranges between ₹44,557 per month to ₹45,654 per month in India. The take-home salary calculation is based on the average Kotak Mahindra Bank Manager M1 salary in India which ranges between ₹3.0 Lakhs to ₹10.0 Lakhs per year for employees with experience between 2 years to 12 years. Check how did we calculate take home salary?

What is the notice period for Manager M1 at Kotak Mahindra Bank?

According to AmbitionBox, 63% of the Kotak Mahindra Bank Manager M1s reported a notice period of 3 Months, 21% reported a notice period of 15 days or less and the remaining reported other notice period durations. This is based on 49 responses on AmbitionBox in last 2 years.

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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 42 Kotak Mahindra Bank latest salaries received from various employees of Kotak Mahindra Bank.