Magma HDI General Insurance Cluster Manager Salaries by 10 Employees (Updated 2025)

8 - 15 years exp.

₹6.2 Lakhs - ₹9.5 Lakhs

Low Confidence

Salary of majority employees

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12% less than the average Cluster Manager Salary in Insurance Companies for 8 - 15 years of experience

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Salaries in different departments

BFSI, Investments & Trading Cluster Manager Salary 10 - 15 years exp. (5 salaries)	Unlock ₹7.1 L/yr - ₹9.5 L/yr
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Sales & Business Development Cluster Manager Salary 10 - 11 years exp. (AmbitionBox Estimate)	Unlock ₹7.5 L/yr - ₹9.2 L/yr

Last Updated: 8 Jan 2025

Companies similar to Magma HDI General Insurance for Cluster Manager

Company name	Avg Annual Salary	Open Jobs
ICICI Lombard General Insurance Company Cluster Manager Salary 1 - 12 years exp. (17 salaries)	Unlock ₹3.8 L/yr - ₹10.9 L/yr 1% less
HDFC Ergo General Insurance Cluster Manager Salary 7 - 16 years exp. (21 salaries)	Unlock ₹4.1 L/yr - ₹13.5 L/yr 25% more
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Bajaj Allianz General Insurance Cluster Manager Salary 3 - 17 years exp. (37 salaries)	Unlock ₹4.2 L/yr - ₹16.5 L/yr 23% more
Reliance General Insurance Cluster Manager Salary 8 - 18 years exp. (216 salaries)	Unlock ₹4.3 L/yr - ₹17.5 L/yr 33% more
Tata AIG Cluster Manager Salary 4 - 16 years exp. (23 salaries)	Unlock ₹3.8 L/yr - ₹8.8 L/yr 20% less
Future Generali India Life Insurance Cluster Manager Salary 7 - 15 years exp. (21 salaries)	Unlock ₹4 L/yr - ₹11.2 L/yr 12% less
Axis Max Life Insurance Cluster Manager Salary 6 - 15 years exp. (190 salaries)	Unlock ₹5.6 L/yr - ₹14 L/yr 25% more
Aditya Birla Health Insurance Co Cluster Manager Salary 0 - 11 years exp. (121 salaries)	Unlock ₹4 L/yr - ₹10.8 L/yr 8% less
ManipalCigna Health Insurance Cluster Manager Salary 9 - 15 years exp. (41 salaries)	Unlock ₹5.5 L/yr - ₹9 L/yr 7% less
SBI General Insurance Cluster Manager Salary 6 - 18 years exp. (38 salaries)	Unlock ₹4.8 L/yr - ₹15.3 L/yr 12% more
Edelweiss Life Insurance Cluster Manager Salary 6 - 17 years exp. (27 salaries)	Unlock ₹6.6 L/yr - ₹13 L/yr 19% more
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Cholamandalam MS General Insurance Cluster Manager Salary 5 - 17 years exp. (17 salaries)	Unlock ₹6.5 L/yr - ₹10 L/yr 10% more
Ageas Federal Life Insurance Cluster Manager Salary 11 - 16 years exp. (6 salaries)	Unlock ₹7.5 L/yr - ₹9 L/yr 12% more
Bharti AXA Life Insurance Cluster Manager Salary 8 - 23 years exp. (6 salaries)	Unlock ₹5.1 L/yr - ₹21.5 L/yr 72% more
Aviva Life Insurance India Cluster Manager Salary 15 - 22 years exp. (4 salaries)	Unlock ₹12.4 L/yr - ₹16 L/yr 95% more
IndiaFirst Life Insurance Cluster Manager Salary 8 - 19 years exp. (3 salaries)	Unlock ₹5.4 L/yr - ₹13.8 L/yr 3% more
Shriram General Insurance Cluster Manager Salary 8 - 25 years exp. (3 salaries)	Unlock ₹4.5 L/yr - ₹9 L/yr 25% less

Cluster Manager salary at Magma HDI General Insurance ranges between ₹6.2 Lakhs to ₹9.5 Lakhs per year for employees with experience between 8 years to 15 years. Salary estimates are based on 10 latest salaries received from various employees of Magma HDI General Insurance.

Experience wise Magma HDI General Insurance Cluster Manager salaries

Last Updated: 8 Jan 2025

Experience	Avg Annual Salary
8 years (AmbitionBox Estimate)	Unlock ₹7.1 L/yr - ₹14.4 L/yr
9 years (AmbitionBox Estimate)	Unlock ₹7.2 L/yr - ₹9.2 L/yr
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10 years (5 salaries)	Unlock ₹7.1 L/yr - ₹9.5 L/yr
11 years (3 salaries)	Unlock ₹6.2 L/yr - ₹14.4 L/yr
12 years (AmbitionBox Estimate)	Unlock ₹7.2 L/yr - ₹9.2 L/yr
13 years (AmbitionBox Estimate)	Unlock ₹7.2 L/yr - ₹9.2 L/yr
14 years (AmbitionBox Estimate)	Unlock ₹7.2 L/yr - ₹9.2 L/yr
15+ years (AmbitionBox Estimate)	Unlock ₹3.2 L/yr - ₹8.6 L/yr

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Similar Designation salaries in Magma HDI General Insurance

Store Manager Salary

(AmbitionBox Estimate)

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₹14.9 L/yr - ₹19 L/yr

Cluster Head Salary

(3 salaries)

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₹8.2 L/yr - ₹11.7 L/yr

Area Manager Salary

(5 salaries)

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₹8.75 L/yr - ₹16.25 L/yr

Deputy Manager Salary

(117 salaries)

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₹5.45 L/yr - ₹10.5 L/yr

Sales Manager Salary

(18 salaries)

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₹3.25 L/yr - ₹7.34 L/yr

Branch Manager Salary

(11 salaries)

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₹5 L/yr - ₹9.25 L/yr

Territory Manager Salary

(5 salaries)

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₹5.5 L/yr - ₹18 L/yr

Area Sales Manager Salary

(6 salaries)

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₹7.7 L/yr - ₹8.8 L/yr

Relationship Manager Salary

(150 salaries)

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₹3.5 L/yr - ₹8.3 L/yr

Area Business Manager Salary

(AmbitionBox Estimate)

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₹11.7 L/yr - ₹15 L/yr

Top skills at Magma HDI General Insurance for Cluster Manager

Team Handling Life Insurance Health Insurance agency development Agency Channel General Insurance Sales General Insurance Distribution Distribution Network Insurance Sales agency Life Agency Management Business Planning Agency Sales

Salary related reviews for Magma HDI General Insurance

4.1

Rated by 6 employees for salary & benefits

Senior Executive in Guntur

BFSI, Investments & Trading Department

2.0

• posted on 16 Nov 2021

1.0

for Salary and Benefits

Likes

...h for this company.From last 6 months Company rules half of the employee go out. Company asking bussines with out any pay outs. As operation side last 2 FYI no hickes . On aug Hickes announced but not base KRA. Heads raltives and neer friends ,personal ratings. As my location Audit 100% also company KRA 100%, SOH questioners 90% .based my KRA I will get rating 2/1 but SOH personal feaver persons gets 2 and 1 .also they got premotions.who gets premotions there KRA 85%. This is enough for knowing company.how wants to this company they must have knowledge on Heads satisfaction.No need to works.On lock down company alloted target to OPs 10pacs PM for AP and TS. Out of 9 Employees I was done 6lacs on each month.Also I got appreciation from National heads.Those are not calculated on ratings premoted person done only 10k per month.

Dislikes

Here employee not treated as employee.theyvtreatedcas slave

Salary - Bad

+6 more

Assistant Sales Manager in Kolkata

Full Time

BFSI, Investments & Trading Department

5.0

• posted on 29 Aug 2024

3.0

for Salary and Benefits

Likes

Work culture

Job security - Excellent

+2 more

Dislikes

With my experience and hardworking that I had put in I was underpaid. Otherwise everything else here in the company is perfect as every single person from senior to junior is there to help .

Senior Executive in Kolkata

Full Time

BFSI, Investments & Trading Department

3.0

• posted on 21 Aug 2024

3.0

for Salary and Benefits

Likes

The company provided a stable and secure work environment, ensuring long-term employment opportunities.

Job security - Good

Dislikes

While I valued my time at the company, I felt there was limited room for growth and development, which motivated me to seek new opportunities.

General Manager in Mumbai

Full Time

Legal & Regulatory Department

1.0

• posted on 24 May 2024

1.0

for Salary and Benefits

Likes

MHDI company is good to work subject to you are not working in TP Claims department. Your life will be miserable. National Head is headless person. He don't respect his colleagues. He work like psycho and he only prefers person who belongs to his caste and state. He doesn't have law knowledge as well as his man management skills are pathetic.

Dislikes

National Manager of TP Claims department is most corrupt person. Lots of fraud activity is taking place under his leadership. You have to work very vigilantly since there are high chances to falsely imply you in said fraud activity if you don't belong to his caste and community of National Head

Salary - Bad

+6 more

Head Business Human Resource in Mumbai

Full Time

Human Resources Department

5.0

• posted on 07 May 2024

5.0

for Salary and Benefits

Likes

Everything. It’s a great learning platform and growth platform. A lot employees have grown over the time. The culture has been very good and the CEO drives it. Respect has been the cornerstone for majority senior leaders here. It’s like working with friends and family. Hope we can Lee the culture the same way.

Salary - Excellent

+6 more

Dislikes

The organisation needs more clarity and unity of thoughts. Ownership is something as a team, they need to work on with specific timelines. Value in its people with respect is something which should be the cornerstone for this organisation.

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Salary Discussions, Hike & Promotions

2w (edited)

an associate vice president

Offer Accepted

I was getting 15.2 LPA in my previous org and now i am being offered 29.5 LPA but the designation is 1 position lower than what i was in my previous org. Should i go ahead with the offer or still negotiate on designation. Protip : i was laid off in... read more

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Magma HDI General Insurance Cluster Manager Salary FAQs

What is the salary of Cluster Manager at Magma HDI General Insurance?

Cluster Manager salary at Magma HDI General Insurance in India ranges between ₹6.2 Lakhs to ₹9.5 Lakhs for experience between 8 years to 15 years. According to our estimates it is 12% less than the average Cluster Manager Salary in India. Salary estimates are based on 10 latest salaries received from various employees of Magma HDI General Insurance India.

How does the salary of a Cluster Manager at Magma HDI General Insurance India compare with the average salary range for this job?

The average salary of a Cluster Manager at Magma HDI General Insurance is 12% less than the average salary of a Cluster Manager in India. To know exact salary insights, login to view.

What are the top skills required to work as a Cluster Manager at Magma HDI General Insurance?

Team Handling, Life Insurance, Health Insurance, agency development and Agency Channel are some of the popular skills required to work as a Cluster Manager at Magma HDI General Insurance India.

Which similar companies are paying more than Magma HDI General Insurance to a Cluster Manager in India?

Aviva Life Insurance India Cluster Manager Salary - ₹12.4 Lakhs to ₹16.0 Lakhs per year
Bharti AXA Life Insurance Cluster Manager Salary - ₹5.1 Lakhs to ₹21.5 Lakhs per year
Reliance General Insurance Cluster Manager Salary - ₹4.3 Lakhs to ₹17.5 Lakhs per year
HDFC Ergo General Insurance Cluster Manager Salary - ₹4.1 Lakhs to ₹13.5 Lakhs per year
Axis Max Life Insurance Cluster Manager Salary - ₹5.6 Lakhs to ₹14.0 Lakhs per year

What is the salary of a Cluster Manager in companies similar to Magma HDI General Insurance in India?

Bajaj Allianz General Insurance Cluster Manager Salary - ₹4.2 Lakhs to ₹16.5 Lakhs per year
Edelweiss Life Insurance Cluster Manager Salary - ₹6.6 Lakhs to ₹13.0 Lakhs per year
SBI General Insurance Cluster Manager Salary - ₹4.8 Lakhs to ₹15.3 Lakhs per year
Ageas Federal Life Insurance Cluster Manager Salary - ₹7.5 Lakhs to ₹9.0 Lakhs per year
Cholamandalam MS General Insurance Cluster Manager Salary - ₹6.5 Lakhs to ₹10.0 Lakhs per year

What is the estimated take home salary of a Cluster Manager at Magma HDI General Insurance in India?

The estimated take-home salary of a Cluster Manager at Magma HDI General Insurance ranges between ₹58,985 per month to ₹60,473 per month in India. The take-home salary calculation is based on the average Magma HDI General Insurance Cluster Manager salary in India which ranges between ₹6.2 Lakhs to ₹9.5 Lakhs per year for employees with experience between 8 years to 15 years. Check how did we calculate take home salary?

What is the notice period for Cluster Manager at Magma HDI General Insurance?

According to AmbitionBox, 89% of the Magma HDI General Insurance Cluster Managers reported a notice period of 2 Months, 11% reported a notice period of 1 Month.This is based on 9 responses on AmbitionBox in last 2 years.

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Magma HDI General Insurance Cluster Manager Salaries

Magma HDI General Insurance Cluster Manager salary in India ranges between ₹6.2 Lakhs to ₹9.5 Lakhs with an average annual salary of ₹. Salary estimates are based on 10 Magma HDI General Insurance latest salaries received from various employees of Magma HDI General Insurance.