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Magma HDI General Insurance Manager salaries in Mumbai (Updated 2025)

Annual salary range
5 - 18 years exp.
₹9 Lakhs - ₹14 Lakhs
Salary of majority employees
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28% less than the average Manager Salary in Insurance Companies for 5 - 18 years of experience

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Salaries in different departments

BFSI, Investments & Trading
Manager Salary
5 - 18 years exp. (16 salaries)
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₹9.5 L/yr - ₹13.7 L/yr

Finance & Accounting
Manager Salary
5 - 11 years exp. (5 salaries)
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₹10.5 L/yr - ₹12.4 L/yr

Legal & Regulatory
Manager Salary
6 - 11 years exp. (3 salaries)
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₹11.9 L/yr - ₹13.5 L/yr

Customer Success, Service & Operations
Manager Salary
10 - 11 years exp. (AmbitionBox Estimate)
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₹10.3 L/yr - ₹12 L/yr

Engineering - Software & QA
Manager Salary
6 - 11 years exp. (AmbitionBox Estimate)
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₹10 L/yr - ₹12 L/yr

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Last Updated: 10 Feb 2025

Companies similar to Magma HDI General Insurance for Manager in Mumbai

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Magma HDI General Insurance Manager Salary

5 - 18 years exp. (40 salaries)

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₹9 L/yr - ₹14 L/yr

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Company name Avg Annual Salary Open Jobs
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₹3 L/yr - ₹13 L/yr

arrow icon 38% less
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HDFC Ergo General Insurance Manager Salary

4 - 16 years exp. (145 salaries)

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₹4.5 L/yr - ₹15 L/yr

arrow icon 15% less
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₹11.8 L/yr - ₹21 L/yr

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Reliance General Insurance Manager Salary

2 - 17 years exp. (79 salaries)

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₹5 L/yr - ₹13.7 L/yr

arrow icon 33% less
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Tata AIG Manager Salary

1 - 11 years exp. (212 salaries)

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₹4 L/yr - ₹11 L/yr

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7 job openings
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₹7 L/yr - ₹22.3 L/yr

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2 job openings
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Aditya Birla Health Insurance Co Manager Salary

1 - 12 years exp. (137 salaries)

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₹4.7 L/yr - ₹17 L/yr

arrow icon 13% less
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Bharti AXA Life Insurance Manager Salary

3 - 16 years exp. (67 salaries)

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₹6.5 L/yr - ₹17.4 L/yr

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Edelweiss Life Insurance Manager Salary

5 - 13 years exp. (64 salaries)

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₹4.9 L/yr - ₹15.2 L/yr

arrow icon 28% less
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IndiaFirst Life Insurance Manager Salary

1 - 13 years exp. (48 salaries)

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₹6 L/yr - ₹22.2 L/yr

arrow icon 8% more
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₹6.3 L/yr - ₹19.2 L/yr

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1 job opening
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SBI General Insurance Manager Salary

1 - 13 years exp. (40 salaries)

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₹6.5 L/yr - ₹15 L/yr

arrow icon 28% less
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ManipalCigna Health Insurance Manager Salary

5 - 18 years exp. (35 salaries)

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₹8 L/yr - ₹18.5 L/yr

arrow icon 15% more
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Medi Assist India Manager Salary

7 - 16 years exp. (28 salaries)

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₹4 L/yr - ₹11.5 L/yr

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3 job openings
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Ageas Federal Life Insurance Manager Salary

4 - 17 years exp. (23 salaries)

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₹9.5 L/yr - ₹21.9 L/yr

arrow icon 34% more
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Axis Max Life Insurance Manager Salary

5 - 16 years exp. (20 salaries)

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₹4 L/yr - ₹15 L/yr

arrow icon 27% less
7 job openings
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₹5.5 L/yr - ₹8.9 L/yr

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Aviva Life Insurance India Manager Salary

3 - 14 years exp. (4 salaries)

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₹7.5 L/yr - ₹14 L/yr

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Manager salary at Magma HDI General Insurance ranges between ₹9 Lakhs to ₹14 Lakhs per year for employees with experience between 5 years to 18 years. Salary estimates are based on 40 latest salaries received from various employees of Magma HDI General Insurance.

Latest annual salaries shared by Magma HDI General Insurance Manager in Mumbai

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15 years exp.
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Experience wise Magma HDI General Insurance Manager salaries in Mumbai

Last Updated: 10 Feb 2025

Experience Avg Annual Salary
5 years  (5 salaries)

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₹9.6 L/yr - ₹21.2 L/yr
6 years  (8 salaries)

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₹10 L/yr - ₹14 L/yr
7 years (AmbitionBox Estimate)

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₹10.6 L/yr - ₹13.6 L/yr
8 years  (3 salaries)

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₹10.9 L/yr - ₹14 L/yr
9 years (AmbitionBox Estimate)

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₹10 L/yr - ₹14 L/yr
View all
Magma HDI General Insurance Manager Salary and Career Growth

From

To

Manager

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5 - 18 years exp.

Senior Manager

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unlock blur Lakhs/yr

4 - 20 years exp.

Disclaimer: Our data limits the visualization of this career path at this point. However, other roles and opportunities might be available within the organization beyond what is shown here.

Similar Designation salaries in Magma HDI General Insurance

Deputy Manager Salary
(46 salaries)
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₹5.8 L/yr - ₹10.5 L/yr
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₹6 L/yr - ₹7 L/yr

Top skills at Magma HDI General Insurance for Manager

General Insurance Ca Insurance Talent Acquisition Recruitment

Salary related reviews for Magma HDI General Insurance

3.0

Rated by 1 employees for salary & benefits

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.

read more

Dislikes

Here employee not treated as employee.theyvtreatedcas slave

  • Salary - Bad
  • +6 more

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 .

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Full Time

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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.

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Full Time

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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.

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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

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  • Salary - Bad
  • +6 more

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.

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  • 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.

read more
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Magma HDI General Insurance Manager Salary FAQs

What is the salary of Manager at Magma HDI General Insurance Mumbai?
Manager salary at Magma HDI General Insurance in Mumbai ranges between ₹9.0 Lakhs to ₹14.0 Lakhs for experience between 5 years to 18 years. According to our estimates it is 28% less than the average Manager Salary in India. Salary estimates are based on 40 latest salaries received from various employees of Magma HDI General Insurance Mumbai.
How does the salary of a Manager at Magma HDI General Insurance Mumbai compare with the average salary range for this job?
The average salary of a Manager at Magma HDI General Insurance is 28% less than the average salary of a Manager in Mumbai. To know exact salary insights, login to view.
What are the top skills required to work as a Manager at Magma HDI General Insurance?
General Insurance, Ca, Insurance, Talent Acquisition and Recruitment are some of the popular skills required to work as a Manager at Magma HDI General Insurance Mumbai.
Which similar companies are paying more than Magma HDI General Insurance to a Manager in Mumbai?
  • Bajaj Allianz General Insurance Manager Salary - ₹11.8 Lakhs to ₹21.0 Lakhs per year
  • Ageas Federal Life Insurance Manager Salary - ₹9.5 Lakhs to ₹21.9 Lakhs per year
  • Future Generali India Life Insurance Manager Salary - ₹7.0 Lakhs to ₹22.3 Lakhs per year
  • ManipalCigna Health Insurance Manager Salary - ₹8.0 Lakhs to ₹18.5 Lakhs per year
  • Star Union Dai-ichi Life Insurance Manager Salary - ₹6.3 Lakhs to ₹19.2 Lakhs per year
What is the salary of a Manager in companies similar to Magma HDI General Insurance in Mumbai?
  • IndiaFirst Life Insurance Manager Salary - ₹6.0 Lakhs to ₹22.2 Lakhs per year
  • Bharti AXA Life Insurance Manager Salary - ₹6.5 Lakhs to ₹17.4 Lakhs per year
  • Aviva Life Insurance India Manager Salary - ₹7.5 Lakhs to ₹14.0 Lakhs per year
  • Aditya Birla Health Insurance Co Manager Salary - ₹4.7 Lakhs to ₹17.0 Lakhs per year
  • HDFC Ergo General Insurance Manager Salary - ₹4.5 Lakhs to ₹15.0 Lakhs per year
What is the estimated take home salary of a Manager at Magma HDI General Insurance in Mumbai?
The estimated take-home salary of a Manager at Magma HDI General Insurance ranges between ₹84,567 per month to ₹86,779 per month in Mumbai. The take-home salary calculation is based on the average Magma HDI General Insurance Manager salary in India which ranges between ₹9.0 Lakhs to ₹14.0 Lakhs per year for employees with experience between 5 years to 18 years. Check how did we calculate take home salary?
What is the notice period for Manager at Magma HDI General Insurance in Mumbai?
According to AmbitionBox, 75% of the Magma HDI General Insurance Managers in Mumbai reported a notice period of 3 Months, 14% reported a notice period of 2 Months and the remaining reported other notice period durations. This is based on 28 responses on AmbitionBox in last 2 years.

Tell us how to improve this page.

Magma HDI General Insurance Manager salary in Mumbai ranges between ₹9 Lakhs to ₹14 Lakhs with an average annual salary of ₹unlock blur. Salary estimates are based on 40 Magma HDI General Insurance latest salaries received from various employees of Magma HDI General Insurance.