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Magma HDI General Insurance Team Manager salaries in India

Annual salary range
5 - 16 years exp.
₹7.5 Lakhs - ₹13 Lakhs
Low Confidence
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Low confidence means that this average salary is based on data that was reported by very few people.
Salary of majority employees
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40% less than the average Team Manager Salary in Insurance Companies for 5 - 16 years of experience

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Last Updated: 23 Nov 2024

Companies similar to Magma HDI General Insurance for Team Manager

Company name Avg Annual Salary Open Jobs
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MetLife Team Manager Salary

5 - 17 years exp. (12 salaries)

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₹13.7 L/yr - ₹34.4 L/yr

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Axis Max Life Insurance Team Manager Salary

6 - 13 years exp. (9 salaries)

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₹5.7 L/yr - ₹11.3 L/yr

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₹4.5 L/yr - ₹6 L/yr

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SBI General Insurance Team Manager Salary

0 - 7 years exp. (7 salaries)

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₹3.2 L/yr - ₹11.6 L/yr

arrow icon 31% less
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₹3.9 L/yr - ₹10 L/yr

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₹4.3 L/yr - ₹15.3 L/yr

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Medi Assist India Team Manager Salary

4 - 13 years exp. (6 salaries)

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₹4.7 L/yr - ₹12 L/yr

arrow icon 28% less
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Edelweiss Life Insurance Team Manager Salary

5 - 9 years exp. (6 salaries)

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₹5.5 L/yr - ₹16.6 L/yr

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₹6.1 L/yr - ₹16 L/yr

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₹6 L/yr - ₹14.9 L/yr

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Principal Global Services Team Manager Salary

10 - 15 years exp. (4 salaries)

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₹11 L/yr - ₹29.3 L/yr

arrow icon 95% more
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₹6.5 L/yr - ₹16.2 L/yr

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Chubb Team Manager Salary

10 - 11 years exp. (4 salaries)

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₹22 L/yr - ₹26 L/yr

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Liberty General Insurance Team Manager Salary

3 - 14 years exp. (4 salaries)

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₹6 L/yr - ₹7.8 L/yr

arrow icon 29% less
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First American Title Team Manager Salary

0 - 13 years exp. (3 salaries)

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₹5.1 L/yr - ₹9.9 L/yr

arrow icon 27% less
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Swiss Re Team Manager Salary

7 - 12 years exp. (3 salaries)

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₹18 L/yr - ₹40 L/yr

arrow icon 193% more
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Allianz Partners Team Manager Salary

8 - 11 years exp. (3 salaries)

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₹8 L/yr - ₹27 L/yr

arrow icon 47% more
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CignaTTk Health Insurance Team Manager Salary

10 - 11 years exp. (3 salaries)

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₹12.5 L/yr - ₹28.8 L/yr

arrow icon 52% more
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₹5.3 L/yr - ₹10.1 L/yr

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Aegon Life Insurance Team Manager Salary

6 - 10 years exp. (3 salaries)

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₹14 L/yr - ₹35.5 L/yr

arrow icon 172% more
View all
Team Manager salary at Magma HDI General Insurance ranges between ₹7.5 Lakhs to ₹13 Lakhs per year for employees with experience between 5 years to 16 years. Salary estimates are based on 8 latest salaries received from various employees of Magma HDI General Insurance.

Latest annual salaries shared by Magma HDI General Insurance Team Manager

3mo ago
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11 years exp.
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10 years exp.
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8 years exp.
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16 years exp.

Experience wise Magma HDI General Insurance Team Manager salaries

Last Updated: 23 Nov 2024

Experience Avg Annual Salary
5 years (AmbitionBox Estimate)

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₹3.6 L/yr - ₹11 L/yr
6 years (AmbitionBox Estimate)

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₹8.1 L/yr - ₹10.4 L/yr
7 years (AmbitionBox Estimate)

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₹8.3 L/yr - ₹10.6 L/yr
8 years (AmbitionBox Estimate)

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₹7.5 L/yr - ₹16.9 L/yr
9 years (AmbitionBox Estimate)

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₹8 L/yr - ₹17.2 L/yr
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Similar Designation salaries in Magma HDI General Insurance

Area Manager Salary
(5 salaries)
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₹8.75 L/yr - ₹16.25 L/yr
Store Manager Salary
(AmbitionBox Estimate)
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₹14.9 L/yr - ₹19 L/yr
Branch Manager Salary
(11 salaries)
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₹5 L/yr - ₹9.25 L/yr
Deputy Manager Salary
(116 salaries)
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₹5.45 L/yr - ₹10.5 L/yr
Team Lead Salary
(6 salaries)
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₹3 L/yr - ₹6.45 L/yr
Cluster Manager Salary
(10 salaries)
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₹6.2 L/yr - ₹9.5 L/yr
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₹8.3 L/yr - ₹11.06 L/yr
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₹3.5 L/yr - ₹7.6 L/yr
Deputy Branch Manager Salary
(AmbitionBox Estimate)
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₹7.2 L/yr - ₹9.2 L/yr
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₹2.25 L/yr - ₹3.8 L/yr

Salary related reviews for Magma HDI General Insurance

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 .

read more

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.

read more

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.

read more

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

read more
  • 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.

read more
  • 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

Full Time

 · 

Other Department

3.0
  •  posted on 18 Dec 2023

4.0
 for  Salary and Benefits

Likes

1. Excellent work life balance 2. HOD is friendly and jolly 3. HR leave policy & employee support 4. Friendly atmosphere in the company 5. Office timings only 8 hours (10 to 6) 6. Need basis WFH given 7. Providing IA related course memberships 8. Team outings 9. Learning exposure,but self start up basis 10. Lots of employee engaging activities and events are conducted for free in the office campus by management of brookfield property

read more
  • Salary - Good
  • +3 more

Dislikes

1. The kurla office location is very inconvenient for western line people.Too much hectic and costly travel 2. No subsidised food in canteen.The prices are like a restuarant. Also, outside and near to the office area, there are almost no food options available 3. Employee engagement / fun activities taken by HR is very less. Culture is poor as compared to other insurance industry. 4. Lots of attrition in the company and in the team.Also, the team size is very small compared to audit calendar 5. Vacant positions in the team are filled after a long gap 6. Mentoring is average especially for freshers and people from out of insurance field. 7. Annual performance bonus is not applicable for below manager position 8. Majority of functions and the top management have a very casual approach and are less interested towards audit.Some of the departments are least bothered in sharing data, proper responses, having meetings, timely closures etc. 9. There is a bit issue in getting exam leaves for professional courses even if it is for a week 10. No improvement in audit procedure and practices. Many unnecessary things are to be followed and performed while doing audits. 11. No audit tool,everything is manual 12. Poor quality and low specification laptop is provided to employees 13. 4th and 5th Saturdays are WFH

read more
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Magma HDI General Insurance Team Manager Salary FAQs

What is the salary of Team Manager at Magma HDI General Insurance ?
The average salary of a Team Manager at Magma HDI General Insurance in India typically ranges from ₹7.5 Lakhs to ₹13.0 Lakhs per year, depending on experience (from 5 years to 16 years).

The top 10% of Team Manager at Magma HDI General Insurance earn more than ₹12.9 Lakhs per year, and the top 1% earn over ₹13.0 Lakhs per year. Team Manager Salaries at Magma HDI General Insurance 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 8 Magma HDI General Insurance employees in India.
What is the estimated take home salary of a Team Manager at Magma HDI General Insurance in India?
The estimated take-home salary of a Team Manager at Magma HDI General Insurance in India typically ranges from ₹70,693 to ₹72,512 per month. This is based on the average salary range of ₹7.5 Lakhs to ₹13.0 Lakhs per year for employees with experience ranging from 5 years to 16 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 8 salaries received from various employees of Magma HDI General Insurance. Check how we calculate in-hand salary with our in-hand salary calculator.
Which companies offer higher salaries than Magma HDI General Insurance for Team Manager in India?
Swiss Re ₹18.0 Lakhs to ₹40.0 Lakhs per year
Aegon Life Insurance ₹14.0 Lakhs to ₹35.5 Lakhs per year
Axa XL ₹20.0 Lakhs to ₹28.0 Lakhs per year
Chubb ₹22.0 Lakhs to ₹26.0 Lakhs per year
MetLife ₹13.7 Lakhs to ₹34.4 Lakhs per year

These companies are known for offering competitive compensation packages that can exceed the salary offered by Magma HDI General Insurance, depending on the role and experience level.
What is the salary of a Team Manager in companies similar to Magma HDI General Insurance in India?
The salary of a Team Manager at companies similar to Magma HDI General Insurance in India varies, depending on the role, experience, and company size. Here are the typical salary ranges:

Principal Global Services ₹11.0 Lakhs to ₹29.3 Lakhs per year
Cholamandalam MS General Insurance ₹10.0 Lakhs to ₹26.0 Lakhs per year
CignaTTk Health Insurance ₹12.5 Lakhs to ₹28.8 Lakhs per year
Allianz Partners ₹8.0 Lakhs to ₹27.0 Lakhs per year
Axis Max Life Insurance ₹5.7 Lakhs to ₹11.3 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 Team Manager at Magma HDI General Insurance in India?
The salary growth for a Team Manager at Magma HDI General Insurance depends on factors such as experience, performance, and promotions. On average, a Team Manager can expect the following growth trajectory at Magma HDI General Insurance:

Experience Average Salary Range
5 years ₹3.6 Lakhs to ₹11.0 Lakhs per year
6 years ₹8.1 Lakhs to ₹10.4 Lakhs per year
7 years ₹8.3 Lakhs to ₹10.6 Lakhs per year
8 years ₹7.5 Lakhs to ₹16.9 Lakhs per year
and so on.

Tell us how to improve this page.

Magma HDI General Insurance Team Manager salary in India ranges between ₹7.5 Lakhs to ₹13 Lakhs with an average annual salary of ₹unlock blur. Salary estimates are based on 8 Magma HDI General Insurance latest salaries received from various employees of Magma HDI General Insurance.