Mahindra Finance Underwriting Manager Salaries by 4 Employees (Updated 2025)

6 - 11 years exp.

₹6.9 Lakhs - ₹9.5 Lakhs

Low Confidence

Salary of majority employees

6% less than the average Underwriting Manager Salary in NBFC Companies for 6 - 11 years of experience

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Salaries in different departments

Risk Management & Compliance Underwriting Manager Salary 6 - 8 years exp. (AmbitionBox Estimate)	₹6.9 L/yr - ₹8 L/yr
BFSI, Investments & Trading Underwriting Manager Salary 9 years exp. (AmbitionBox Estimate)	₹8.1 L/yr - ₹9.9 L/yr
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Finance & Accounting Underwriting Manager Salary 11 years exp. (AmbitionBox Estimate)	₹8.6 L/yr - ₹10.5 L/yr

Last Updated: 19 Mar 2025

Companies similar to Mahindra Finance for Underwriting Manager

Company name	Avg Annual Salary	Open Jobs
Bajaj Finance Underwriting Manager Salary 2 - 7 years exp. (12 salaries)	₹4.2 L/yr - ₹8.1 L/yr 17% less
SBI General Insurance Underwriting Manager Salary 1 - 13 years exp. (28 salaries)	₹5.8 L/yr - ₹13.5 L/yr 18% more
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Care Health Insurance Underwriting Manager Salary 0 - 9 years exp. (23 salaries)	₹2.7 L/yr - ₹7.3 L/yr 40% less
HDFC Ergo General Insurance Underwriting Manager Salary 1 - 13 years exp. (16 salaries)	₹5.1 L/yr - ₹18.5 L/yr 30% more
ICICI Prudential Life Insurance Underwriting Manager Salary 0 - 16 years exp. (14 salaries)	₹6 L/yr - ₹10.5 L/yr 1% less

Underwriting Manager salary at Mahindra Finance ranges between ₹6.9 Lakhs to ₹9.5 Lakhs per year for employees with experience between 6 years to 11 years. Salary estimates are based on 4 latest salaries received from various employees of Mahindra Finance.

Experience wise Mahindra Finance Underwriting Manager salaries

Last Updated: 19 Mar 2025

Experience	Avg Annual Salary
6 years (AmbitionBox Estimate)	₹7.2 L/yr - ₹9.2 L/yr
8 years (AmbitionBox Estimate)	₹6.2 L/yr - ₹7.9 L/yr
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9 years (AmbitionBox Estimate)	₹8.1 L/yr - ₹10.3 L/yr
11 years (AmbitionBox Estimate)	₹8.6 L/yr - ₹10.9 L/yr

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(AmbitionBox Estimate)

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₹7.3 L/yr - ₹9.3 L/yr

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Senior Underwriter Salary

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₹13.7 L/yr - ₹17.5 L/yr

Salary related reviews for Mahindra Finance

5.0

Rated by 1 employees for salary & benefits

Credit Manager in Chennai

Full Time

Finance & Accounting Department

1.0

• posted on 20 Dec 2024

2.0

for Salary and Benefits

Likes

Nil

Dislikes

...MFSL is terrible. In the past 5 years from mar 2020 lots of dislikes happened i.e changes in salary stucture, poor increment, management changes, insecurity in job, etc.,

Salary - Poor

+6 more

Deputy Manager in Mumbai

Full Time

Finance & Accounting Department

5.0

• posted on 29 Oct 2024

5.0

for Salary and Benefits

Likes

...nt is preety good here. Ambience, work desk , cafeteria everything is top notch. Even the salary gets credited 2-3 days before the month ends.

Salary - Excellent

+6 more

Dislikes

So far no issues.

Credit Manager in Mumbai

BFSI, Investments & Trading Department

2.0

• posted on 28 Jun 2022

1.0

for Salary and Benefits

Likes

There are no lines except some work life balance. That too is deteriorating offlate.

Job security - Good

Dislikes

...ponent. It may or may not provide Performance Pay depending on many variables. New recruits be careful while negotiating salary. The HR will tell Performance Pay is assured and is paid almost certainly. Don't believe that. This is not true. Ask for increment on Fixed, not overall CTC. Just because they mention Performance Pay on offer letter CTC, there is no assurance, that they have to give you. Lots of politics and partiality over Performance. The company used to be good. Not anymore after 2019. HR is meaningless and can't help with anything. Off role employees (colleagues) were laid off with just 15 days salary. Not a professional organisation. Lots of Management issues.

Salary - Bad

+4 more

Credit Manager in Sinnar

BFSI, Investments & Trading Department

5.0

• posted on 26 Jan 2022

5.0

for Salary and Benefits

Likes

Full job security, But Your appraisal judge by company's points of view, not what rating and score given to you by your reporting manager and his boss, Companies HR is for only the name, No any Respect for Appraisal Rating

Salary - Excellent

+5 more

Dislikes

Working culture is good, you can get retirement here , but with lowest salary, there is no any waitege for your appraisal ratings

Deputy Manager in Chandigarh Sector 34 A

Full Time

Finance & Accounting Department

5.0

• posted on 26 Jan 2022

5.0

for Salary and Benefits

Likes

I m working with this company since 17 years. There is well work life balance. Time to time new technology introduced by Co. And get trained by them. This Co. Is great place to work..

Salary - Excellent

+6 more

Dislikes

Only salary package..

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Just had to share this, I got a 100% hike!

I'm keeping this anonymous because I don’t want to disclose it in real life. After two years without a raise, I successfully negotiated a 100% increase at my current company. I focused on creating significant value and worked in cross-functional teams to learn as much as possible. There were times when I was overworked, but it was all worthwhile. I was confident that it was a mutually beneficial situation. My advice would be to choose your job wisely, create value in the right place, and don't be afraid to negotiate.

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Mahindra Finance Underwriting Manager Salary FAQs

What is the salary of Underwriting Manager at Mahindra Finance ?

The average salary of a Underwriting Manager at Mahindra Finance in India typically ranges from ₹6.9 Lakhs to ₹9.5 Lakhs per year, depending on experience (from 6 years to 11 years).

The top 10% of Underwriting Manager at Mahindra Finance earn more than ₹9.5 Lakhs per year, and the top 1% earn over ₹9.5 Lakhs per year. Underwriting Manager Salaries at Mahindra Finance 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 4 Mahindra Finance employees in India.

What is the estimated take home salary of a Underwriting Manager at Mahindra Finance in India?

The estimated take-home salary of a Underwriting Manager at Mahindra Finance in India typically ranges from ₹61,273 to ₹62,826 per month. This is based on the average salary range of ₹6.9 Lakhs to ₹9.5 Lakhs per year for employees with experience ranging from 6 years to 11 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 4 salaries received from various employees of Mahindra Finance. Check how we calculate in-hand salary with our in-hand salary calculator.

Which companies offer higher salaries than Mahindra Finance for Underwriting Manager in India?

HDFC Ergo General Insurance	₹5.1 Lakhs to ₹18.5 Lakhs per year
SBI General Insurance	₹5.8 Lakhs to ₹13.5 Lakhs per year

These companies are known for offering competitive compensation packages that can exceed the salary offered by Mahindra Finance, depending on the role and experience level.

What is the salary of a Underwriting Manager in companies similar to Mahindra Finance in India?

The salary of a Underwriting Manager at companies similar to Mahindra Finance in India varies, depending on the role, experience, and company size. Here are the typical salary ranges:

ICICI Prudential Life Insurance	₹6.0 Lakhs to ₹10.5 Lakhs per year
Bajaj Finance	₹4.2 Lakhs to ₹8.1 Lakhs per year
Care Health Insurance	₹2.7 Lakhs to ₹7.3 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 Underwriting Manager at Mahindra Finance in India?

The salary growth for a Underwriting Manager at Mahindra Finance depends on factors such as experience, performance, and promotions. On average, a Underwriting Manager can expect the following growth trajectory at Mahindra Finance:

Experience	Average Salary Range
6 years	₹7.2 Lakhs to ₹9.2 Lakhs per year
8 years	₹6.2 Lakhs to ₹7.9 Lakhs per year
9 years	₹8.1 Lakhs to ₹10.3 Lakhs per year
11 years	₹8.6 Lakhs to ₹10.9 Lakhs per year

and so on.

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Mahindra Finance Underwriting Manager Salaries

Mahindra Finance Underwriting Manager salary in India ranges between ₹6.9 Lakhs to ₹9.5 Lakhs with an average annual salary of ₹. Salary estimates are based on 4 Mahindra Finance latest salaries received from various employees of Mahindra Finance.