Kotak Mahindra Bank State Manager Salaries by 5 Employees (Updated 2025)

10 - 16 years exp.

₹9.9 Lakhs - ₹11.3 Lakhs

Low Confidence

Salary of majority employees

9% less than the average State Manager Salary in Banking Companies for 10 - 16 years of experience

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Last Updated: 24 Nov 2024

Companies similar to Kotak Mahindra Bank for State Manager

Company name	Avg Annual Salary	Open Jobs
HDFC Bank State Manager Salary 4 - 9 years exp. (5 salaries)	₹7.2 L/yr - ₹13.3 L/yr 13% less
IndusInd Bank State Manager Salary 5 - 15 years exp. (6 salaries)	₹5 L/yr - ₹12 L/yr 23% less
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IDFC FIRST Bank State Manager Salary 8 - 20 years exp. (15 salaries)	₹7.1 L/yr - ₹20 L/yr 18% more
Ujjivan Small Finance Bank State Manager Salary 5 - 15 years exp. (4 salaries)	₹6.6 L/yr - ₹13.6 L/yr 8% less
Smith & Nephew Healthcare State Manager Salary 11 - 17 years exp. (17 salaries)	₹12.5 L/yr - ₹19 L/yr 53% more

State Manager salary at Kotak Mahindra Bank ranges between ₹9.9 Lakhs to ₹11.3 Lakhs per year for employees with experience between 10 years to 16 years. Salary estimates are based on 5 latest salaries received from various employees of Kotak Mahindra Bank.

Experience wise Kotak Mahindra Bank State Manager salaries

Last Updated: 24 Nov 2024

Experience	Avg Annual Salary
10 years (AmbitionBox Estimate)	₹4.3 L/yr - ₹11.2 L/yr
11 years (AmbitionBox Estimate)	₹4.3 L/yr - ₹11.2 L/yr
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12 years (AmbitionBox Estimate)	₹9.9 L/yr - ₹19.5 L/yr
13 years (AmbitionBox Estimate)	₹9.7 L/yr - ₹12.4 L/yr
14 years (AmbitionBox Estimate)	₹9.7 L/yr - ₹12.4 L/yr
15+ years (AmbitionBox Estimate)	₹10.5 L/yr - ₹11.3 L/yr

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Salary related reviews for Kotak Mahindra Bank

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

see more salary related reviews

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AmbitionBox

New Job, Higher Pay, Now I’m Feeling Awkward

I’ve been at my new job for about six months now, and everything’s been going great! I’m getting positive feedback from my manager, and I get along well with the team. The thing is, when I started, my salary offer ended up being much higher than the initial number discussed during my interview. I didn’t negotiate and just accepted the offer. So, fast forward to happy hour with the team, and the topic of salary comes up. I, unfortunately, shared what I’m making, and let’s just say... it didn’t sit well with the others who have been on the team for years and make less than me. They weren’t mad at me, but now I’m feeling a bit uncomfortable and unsure how to handle this situation. Has anyone had something like this happen? How did you deal with it? Let’s chat!

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Kotak Mahindra Bank State Manager Salary FAQs

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

State Manager salary at Kotak Mahindra Bank in India ranges between ₹9.9 Lakhs to ₹11.3 Lakhs for experience between 10 years to 16 years. According to our estimates it is 9% less than the average State Manager Salary in India. Salary estimates are based on 5 latest salaries received from various employees of Kotak Mahindra Bank India.

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

The average salary of a State Manager at Kotak Mahindra Bank is 9% less than the average salary of a State Manager in India. To know exact salary insights, login to view.

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

Smith & Nephew Healthcare State Manager Salary - ₹12.5 Lakhs to ₹19.0 Lakhs per year
IDFC FIRST Bank State Manager Salary - ₹7.1 Lakhs to ₹20.0 Lakhs per year

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

Ujjivan Small Finance Bank State Manager Salary - ₹6.6 Lakhs to ₹13.6 Lakhs per year
HDFC Bank State Manager Salary - ₹7.2 Lakhs to ₹13.3 Lakhs per year
IndusInd Bank State Manager Salary - ₹5.0 Lakhs to ₹12.0 Lakhs per year

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

The estimated take-home salary of a State Manager at Kotak Mahindra Bank ranges between ₹77,511 per month to ₹79,523 per month in India. The take-home salary calculation is based on the average Kotak Mahindra Bank State Manager salary in India which ranges between ₹9.9 Lakhs to ₹11.3 Lakhs per year for employees with experience between 10 years to 16 years. Check how did we calculate take home salary?

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

According to AmbitionBox, 80% of the Kotak Mahindra Bank State Managers reported a notice period of 1 Month, 20% reported a notice period of 2 Months.This is based on 5 responses on AmbitionBox in last 2 years.

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Kotak Mahindra Bank State Manager Salaries

Kotak Mahindra Bank State Manager salary in India ranges between ₹9.9 Lakhs to ₹11.3 Lakhs with an average annual salary of ₹. Salary estimates are based on 5 Kotak Mahindra Bank latest salaries received from various employees of Kotak Mahindra Bank.