Life Insurance Corporation of India Mumbai Manager Salaries by 3 Employees

3 - 17 years exp.

₹4.9 Lakhs - ₹10.9 Lakhs

Low Confidence

Avg. annual salary

Monthly In-hand Salary

52% less than the average Manager Salary in Insurance Companies for 3 - 17 years of experience

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Last Updated: 16 Mar 2023

Companies similar to Life Insurance Corporation of India for Manager in Mumbai

Life Insurance Corporation of India Manager Salary

3 - 17 years exp. (3 salaries)

₹4.9 L/yr - ₹10.9 L/yr

Company name	Avg Annual Salary	Open Jobs
HDFC Life Manager Salary 2 - 16 years exp. (281 salaries)	₹4 L/yr - ₹16 L/yr 23% more	2 job openings
Kotak Mahindara Life Insurance Manager Salary 0 - 12 years exp. (242 salaries)	₹3 L/yr - ₹8.5 L/yr 30% less
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ICICI Prudential Life Insurance Manager Salary 1 - 13 years exp. (181 salaries)	₹4 L/yr - ₹13.9 L/yr 4% more
Tata AIA Life Insurance Manager Salary 3 - 18 years exp. (153 salaries)	₹7.5 L/yr - ₹29.1 L/yr 116% more	2 job openings
SBI Life Insurance Company Manager Salary 3 - 17 years exp. (152 salaries)	₹5.5 L/yr - ₹17 L/yr 47% more
HDFC Ergo General Insurance Manager Salary 4 - 16 years exp. (143 salaries)	₹4.5 L/yr - ₹15 L/yr 28% more
Aditya Birla Health Insurance Co Manager Salary 1 - 12 years exp. (136 salaries)	₹5 L/yr - ₹17 L/yr 32% more
ICICI Lombard General Insurance Company Manager Salary 2 - 14 years exp. (113 salaries)	₹3.5 L/yr - ₹12.1 L/yr 9% less
Aditya Birla Sun Life Insurance Manager Salary 0 - 12 years exp. (108 salaries)	₹5 L/yr - ₹18 L/yr 43% more
Reliance Nippon Life Insurance Manager Salary 2 - 18 years exp. (66 salaries)	₹3.2 L/yr - ₹11.7 L/yr 16% less
Bajaj Allianz Life Insurance Manager Salary 3 - 18 years exp. (40 salaries)	₹8.5 L/yr - ₹18.5 L/yr 67% more
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Aditya Birla Insurance Brokers Manager Salary 4 - 17 years exp. (29 salaries)	₹5.1 L/yr - ₹15 L/yr 15% more
Axis Max Life Insurance Manager Salary 3 - 16 years exp. (25 salaries)	₹4 L/yr - ₹15 L/yr 7% more	2 job openings
Cholamandalam MS General Insurance Manager Salary 3 - 11 years exp. (11 salaries)	₹5.5 L/yr - ₹9.1 L/yr 4% more
Bajaj Allianz General Insurance Manager Salary 6 - 19 years exp. (8 salaries)	₹11.8 L/yr - ₹21 L/yr 115% more
Star Health & Allied Insurance Manager Salary 1 - 12 years exp. (4 salaries)	₹3.2 L/yr - ₹10.8 L/yr 11% less
AON Global Insurance Brokers Manager Salary 2 - 11 years exp. (3 salaries)	₹8 L/yr - ₹10.1 L/yr 26% more
Gallagher Manager Salary 8 - 13 years exp. (3 salaries)	₹12 L/yr - ₹14 L/yr 65% more

Manager salary at Life Insurance Corporation of India ranges between ₹4.9 Lakhs to ₹10.9 Lakhs per year for employees with experience between 3 years to 17 years. Salary estimates are based on 3 latest salaries received from various employees of Life Insurance Corporation of India.

Experience wise Life Insurance Corporation of India Manager salaries in Mumbai

Last Updated: 16 Mar 2023

Experience	Avg Annual Salary
3 years (AmbitionBox Estimate)	₹5 L/yr - ₹6.4 L/yr
4 years (AmbitionBox Estimate)	₹5.3 L/yr - ₹6.8 L/yr
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5 years (AmbitionBox Estimate)	₹5.6 L/yr - ₹7.1 L/yr
6 years (AmbitionBox Estimate)	₹5.9 L/yr - ₹7.5 L/yr
7 years (AmbitionBox Estimate)	₹6.2 L/yr - ₹7.9 L/yr
8 years (AmbitionBox Estimate)	₹6.5 L/yr - ₹8.3 L/yr
9 years (AmbitionBox Estimate)	₹6.8 L/yr - ₹8.7 L/yr
10 years (AmbitionBox Estimate)	₹7.1 L/yr - ₹9.1 L/yr
11 years (AmbitionBox Estimate)	₹7.4 L/yr - ₹9.4 L/yr
12 years (AmbitionBox Estimate)	₹7.7 L/yr - ₹9.8 L/yr
13 years (AmbitionBox Estimate)	₹8 L/yr - ₹10.2 L/yr
14 years (AmbitionBox Estimate)	₹8.3 L/yr - ₹10.6 L/yr
15+ years (AmbitionBox Estimate)	₹9.2 L/yr - ₹11.7 L/yr

View all

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Salary related reviews for Life Insurance Corporation of India

4.0

Rated by 1 employees for salary & benefits

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There is a heavy workload of getting policies and sales which is very tough to get popicies on dailg basis to achieve target.

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Job Performing Flexibility.

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...e Teams. 2. Other benefits, which are not upto the standards or satisfaction. 3. No Festival bonuses/ annual bonuses. 4. No Family bonus 5. No clarity about Pension

Promotions - Poor

Development Officer in Mumbai

Full Time

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1.0

• posted on 20 Feb 2023

3.0

for Salary and Benefits

Likes

Good company in terms of the pay and benefits, but at a heavy price.

Dislikes

All the rules and restrictions/punishment are imposed only on class 2 officers of the organisation. Targets are imposed only on development officers.

Skill development - Poor

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Insurance Adviser in Suryapet

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5.0

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...us, we need to complete basic target - can be achieved easily to retain licence. We as agents, upon reaching membership target's, we receive bonus, advances & other benefits.

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+6 more

Dislikes

In this competitive industry, we need to implement new combination policies like pvt companies, which gives multiple benefit options to choose for customer & we need to upgrade in digital marketing/Easy ways to receive customer feedback, requests, their suggestions etc. We need to cut off those lengthy process in different sections.

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No job security at ADO/PDO post. Work life balance (what is it ?). Forget about help from colleague. If you are from sound and wealthy background just dive in.

Job security - Bad

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Salary Discussions, Hike & Promotions

1w (edited)

an inside sales executive

Unexpected job policies: stay or switch?

I recently switched jobs with a 48% hike, and my current in-hand salary is ₹35K. But after joining, I realized a few important things that weren’t mentioned during the interview. 1. No Phones or Bags Allowed – We have to keep them in lockers, which I wasn’t informed about before joining. 2. Working Saturdays – HR said all Saturdays are working but assured that one Saturday off per month would be introduced soon. I can't see that happening anytime soon 3. Phone Policy Confusion – When I asked HR why this wasn’t discussed earlier, they said it’s only for two months and won’t be the case at the new location (which was discussed earlier). But some old employees say the same rule applies there too. 4. Leaves – We get 21 paid leaves a year. I’m already thinking of switching. Would it be too soon to leave within 3 months, or should I stay for at least 6 months? Also, since I just got a good hike, how much can I ask for in my next job?

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Life Insurance Corporation of India Manager Salary FAQs

How the salary growth look like for a Manager at Life Insurance Corporation of India in Mumbai?

The salary growth for a Manager at Life Insurance Corporation of India in Mumbai depends on factors such as experience, performance, and promotions. On average, a Manager in Mumbai can expect the following growth trajectory at Life Insurance Corporation of India:

Experience	Average Salary Range
3 years	₹5.0 Lakhs to ₹6.4 Lakhs per year
4 years	₹5.3 Lakhs to ₹6.8 Lakhs per year
5 years	₹5.6 Lakhs to ₹7.1 Lakhs per year
6 years	₹5.9 Lakhs to ₹7.5 Lakhs per year

and so on.

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Life Insurance Corporation of India Manager Salaries in Mumbai

Life Insurance Corporation of India Manager salary in Mumbai ranges between ₹4.9 Lakhs to ₹10.9 Lakhs with an average annual salary of ₹. Salary estimates are based on 3 Life Insurance Corporation of India latest salaries received from various employees of Life Insurance Corporation of India.