Kotak Mahindra Bank Mumbai Manager M1 Salaries by 10+ Employees (Updated 2025)

2 - 12 years exp.

₹3.4 Lakhs - ₹9 Lakhs

Avg. annual salary

Monthly In-hand Salary

42% 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 5 - 12 years exp. (5 salaries)	₹4 L/yr - ₹9 L/yr
Finance & Accounting Manager M1 Salary 2 - 10 years exp. (4 salaries)	₹3.5 L/yr - ₹6.5 L/yr
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Customer Success, Service & Operations Manager M1 Salary 3 - 9 years exp. (AmbitionBox Estimate)	₹3.5 L/yr - ₹8.5 L/yr
Product Management Manager M1 Salary 3 - 4 years exp. (AmbitionBox Estimate)	₹3.4 L/yr - ₹7.2 L/yr
Risk Management & Compliance Manager M1 Salary 4 - 5 years exp. (AmbitionBox Estimate)	₹6.3 L/yr - ₹8.5 L/yr

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Last Updated: 17 Feb 2025

Companies similar to Kotak Mahindra Bank for Manager M1 in Mumbai

Kotak Mahindra Bank Manager M1 Salary

2 - 12 years exp. (17 salaries)

₹3.4 L/yr - ₹9 L/yr

Company name	Avg Annual Salary	Open Jobs
ICICI Bank Manager M1 Salary 1 - 17 years exp. (510 salaries)	₹4.5 L/yr - ₹17.3 L/yr 70% more
HDFC Bank Manager M1 Salary 5 - 13 years exp. (22 salaries)	₹6 L/yr - ₹10.5 L/yr 27% more
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Axis Bank Manager M1 Salary 5 - 13 years exp. (17 salaries)	₹6 L/yr - ₹10.6 L/yr 27% more
IndusInd Bank Manager M1 Salary 4 - 10 years exp. (9 salaries)	₹5.5 L/yr - ₹8.8 L/yr 12% more
RBL Bank Manager M1 Salary 5 - 15 years exp. (7 salaries)	₹6.8 L/yr - ₹9.2 L/yr 27% more
Yes Bank Manager M1 Salary 2 - 10 years exp. (6 salaries)	₹5.5 L/yr - ₹10.1 L/yr 18% more
IDFC FIRST Bank Manager M1 Salary 6 - 12 years exp. (6 salaries)	₹5.5 L/yr - ₹8.5 L/yr 13% more
Bandhan Bank Manager M1 Salary 9 - 11 years exp. (3 salaries)	₹7.2 L/yr - ₹9.5 L/yr 30% more

Manager M1 salary at Kotak Mahindra Bank ranges between ₹3.4 Lakhs to ₹9 Lakhs per year for employees with experience between 2 years to 12 years. Salary estimates are based on 17 latest salaries received from various employees of Kotak Mahindra Bank.

Latest annual salaries shared by Kotak Mahindra Bank Manager M1 in Mumbai

1mo ago

₹6.1 Lakhs

8 years exp.

5mo ago

₹8.5 Lakhs

9 years exp.

11mo ago

₹3.5 Lakhs

4 years exp.

1y ago

₹3.5 Lakhs

3 years exp.

1y ago

₹4 Lakhs

3 years exp.

1y ago

5 years exp.

1y ago

5 years exp.

1y ago

4 years exp.

1y ago

4 years exp.

Experience wise Kotak Mahindra Bank Manager M1 salaries in Mumbai

Last Updated: 17 Feb 2025

Experience	Avg Annual Salary
2 years (AmbitionBox Estimate)	₹5 L/yr - ₹6.3 L/yr
3 years (3 salaries)	₹3.4 L/yr - ₹10.3 L/yr
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4 years (3 salaries)	₹3.5 L/yr - ₹8 L/yr
5 years (3 salaries)	₹2.4 L/yr - ₹9 L/yr
6 years (AmbitionBox Estimate)	₹5.6 L/yr - ₹7.2 L/yr
7 years (AmbitionBox Estimate)	₹5.8 L/yr - ₹7.4 L/yr
8 years (AmbitionBox Estimate)	₹6 L/yr - ₹7.6 L/yr
9 years (AmbitionBox Estimate)	₹6.1 L/yr - ₹7.8 L/yr
10 years (AmbitionBox Estimate)	₹6.3 L/yr - ₹8 L/yr
11 years (AmbitionBox Estimate)	₹6.5 L/yr - ₹8.2 L/yr
12 years (AmbitionBox Estimate)	₹6.6 L/yr - ₹8.5 L/yr

View all

Similar Designation salaries in Kotak Mahindra Bank

Deputy Manager Salary

(3.4k salaries)

₹1.65 L/yr - ₹8.2 L/yr

Branch Manager Salary

(142 salaries)

₹10 L/yr - ₹30 L/yr

Team Lead Salary

(82 salaries)

₹1.8 L/yr - ₹6.97 L/yr

Service Manager Salary

(58 salaries)

₹2.46 L/yr - ₹14 L/yr

Project Manager Salary

(48 salaries)

₹5.3 L/yr - ₹23.41 L/yr

Team Manager Salary

(25 salaries)

₹2.8 L/yr - ₹13 L/yr

Area Manager Salary

(8 salaries)

₹9 L/yr - ₹28.72 L/yr

Cluster Manager Salary

(6 salaries)

₹9 L/yr - ₹22.5 L/yr

Program Manager Salary

(5 salaries)

₹7 L/yr - ₹23.5 L/yr

Salary related reviews for Kotak Mahindra Bank

3.0

Rated by 1 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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a manager

Ambiguity in JOB offer.

I recently changed my Job as Business Manager with Arka Fincap, but some how I also selected as BM(Branch manager) with HDB financial and Varthana finance. I am very confused, to what I will do. CTC would be same approximately. Suggest me right decision with reason... 1. I can continue with Arka Fincap. 2. Will join HDB financial as BM. 3. Will join Varthana finance as BM. Your feedback will be appreciated.

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Kotak Mahindra Bank Manager M1 Salary FAQs

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

The average salary of a Manager M1 at Kotak Mahindra Bank in Mumbai typically ranges from ₹3.4 Lakhs to ₹9.0 Lakhs per year, depending on experience (from 2 years to 12 years).

The top 10% of Manager M1 in Mumbai at Kotak Mahindra Bank earn more than ₹8.7 Lakhs per year, and the top 1% earn over ₹9.0 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 10+ Kotak Mahindra Bank employees in India.

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

The estimated take-home salary of a Manager M1 at Kotak Mahindra Bank in Mumbai typically ranges from ₹49,079 to ₹50,238 per month. This is based on the average salary range of ₹3.4 Lakhs to ₹9.0 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 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 Manager M1 in India?

ICICI Bank	₹4.5 Lakhs to ₹17.3 Lakhs per year
Bandhan Bank	₹7.2 Lakhs to ₹9.5 Lakhs per year
HDFC Bank	₹6.0 Lakhs to ₹10.5 Lakhs per year
Axis Bank	₹6.0 Lakhs to ₹10.6 Lakhs per year
RBL Bank	₹6.8 Lakhs to ₹9.2 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 Mumbai?

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

Yes Bank	₹5.5 Lakhs to ₹10.1 Lakhs per year
IDFC FIRST Bank	₹5.5 Lakhs to ₹8.5 Lakhs per year
IndusInd Bank	₹5.5 Lakhs to ₹8.8 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 Mumbai?

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

Experience	Average Salary Range
2 years	₹5.0 Lakhs to ₹6.3 Lakhs per year
3 years	₹3.4 Lakhs to ₹10.3 Lakhs per year
4 years	₹3.5 Lakhs to ₹8.0 Lakhs per year
5 years	₹2.4 Lakhs to ₹9.0 Lakhs per year

and so on.

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Kotak Mahindra Bank Manager M1 Salaries in Mumbai

Kotak Mahindra Bank Manager M1 salary in Mumbai ranges between ₹3.4 Lakhs to ₹9 Lakhs with an average annual salary of ₹. Salary estimates are based on 17 Kotak Mahindra Bank latest salaries received from various employees of Kotak Mahindra Bank.