Mahindra Insurance Brokers Mumbai Deputy Manager Salaries by 20+ Employees (Updated 2025)

5 - 14 years exp.

₹4.5 Lakhs - ₹10 Lakhs

Avg. annual salary

Fixed

₹

Lakhs

Variable

₹

Lakh

Monthly In-hand Salary

20% less than the average Deputy Manager Salary in Insurance Companies for 5 - 14 years of experience

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Salaries in different departments

Customer Success, Service & Operations Deputy Manager Salary 5 - 14 years exp. (10 salaries)	₹4.5 L/yr - ₹7 L/yr
BFSI, Investments & Trading Deputy Manager Salary 11 - 14 years exp. (4 salaries)	₹6.3 L/yr - ₹9.1 L/yr
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Product Management Deputy Manager Salary 6 - 7 years exp. (AmbitionBox Estimate)	₹6 L/yr - ₹6.5 L/yr
Sales & Business Development Deputy Manager Salary 9 years exp. (AmbitionBox Estimate)	₹4.6 L/yr - ₹7 L/yr

Last Updated: 8 Mar 2025

Companies similar to Mahindra Insurance Brokers for Deputy Manager in Mumbai

Mahindra Insurance Brokers Deputy Manager Salary

5 - 14 years exp. (23 salaries)

₹4.5 L/yr - ₹10 L/yr

Company name	Avg Annual Salary	Open Jobs
Aditya Birla Health Insurance Co Deputy Manager Salary 2 - 11 years exp. (146 salaries)	₹4.2 L/yr - ₹12.6 L/yr 14% more
Future Generali India Life Insurance Deputy Manager Salary 4 - 14 years exp. (142 salaries)	₹4.3 L/yr - ₹14.5 L/yr 39% more	2 job openings
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ManipalCigna Health Insurance Deputy Manager Salary 3 - 16 years exp. (68 salaries)	₹5.5 L/yr - ₹14.5 L/yr 55% more
IndiaFirst Life Insurance Deputy Manager Salary 4 - 13 years exp. (58 salaries)	₹4 L/yr - ₹10.7 L/yr 10% more
Magma HDI General Insurance Deputy Manager Salary 1 - 16 years exp. (45 salaries)	₹5.8 L/yr - ₹10.5 L/yr 28% more
Universal Sompo General Insurance Deputy Manager Salary 6 - 16 years exp. (23 salaries)	₹7 L/yr - ₹12.2 L/yr 39% more
Cholamandalam MS General Insurance Deputy Manager Salary 1 - 11 years exp. (10 salaries)	₹5.6 L/yr - ₹11 L/yr 22% more
Family Health Plan Deputy Manager Salary 6 - 10 years exp. (7 salaries)	₹4 L/yr - ₹7 L/yr 22% less
CignaTTk Health Insurance Deputy Manager Salary 4 - 13 years exp. (4 salaries)	₹5.4 L/yr - ₹11.4 L/yr 32% more
Marsh Deputy Manager Salary 10 - 13 years exp. (3 salaries)	₹10 L/yr - ₹12 L/yr 55% more

Deputy Manager salary at Mahindra Insurance Brokers ranges between ₹4.5 Lakhs to ₹10 Lakhs per year for employees with experience between 5 years to 14 years. Salary estimates are based on 23 latest salaries received from various employees of Mahindra Insurance Brokers.

Latest annual salaries shared by Mahindra Insurance Brokers Deputy Manager in Mumbai

3w ago

₹7 Lakhs

11 years exp.

8mo ago

₹6 Lakhs

7 years exp.

8mo ago

₹7.7 Lakhs

14 years exp.

8mo ago

₹4.5 Lakhs

14 years exp.

8mo ago

₹6.2 Lakhs

11 years exp.

10mo ago

9 years exp.

1y ago

7 years exp.

1y ago

6 years exp.

1y ago

10 years exp.

1y ago

14 years exp.

Experience wise Mahindra Insurance Brokers Deputy Manager salaries in Mumbai

Last Updated: 8 Mar 2025

Experience	Avg Annual Salary
5 years (AmbitionBox Estimate)	₹5.8 L/yr - ₹7.4 L/yr
6 years (AmbitionBox Estimate)	₹5.9 L/yr - ₹7.5 L/yr
Login to view exact salary
7 years (AmbitionBox Estimate)	₹6 L/yr - ₹7.6 L/yr
8 years (AmbitionBox Estimate)	₹6.1 L/yr - ₹7.7 L/yr
9 years (3 salaries)	₹4.6 L/yr - ₹9 L/yr
10 years (4 salaries)	₹6.2 L/yr - ₹9.5 L/yr
11 years (6 salaries)	₹5.8 L/yr - ₹9.1 L/yr
12 years (AmbitionBox Estimate)	₹6.4 L/yr - ₹8.1 L/yr
13 years (AmbitionBox Estimate)	₹6.5 L/yr - ₹8.2 L/yr
14 years (3 salaries)	₹4.5 L/yr - ₹7.7 L/yr

View all

Similar Designation salaries in Mahindra Insurance Brokers

Deputy Manager Grade 2 Salary

(3 salaries)

₹7.5 L/yr - ₹19.6 L/yr

Salary related reviews for Mahindra Insurance Brokers

2.6

Rated by 2 employees for salary & benefits

Area Manager in Hyderabad / Secunderabad

Full Time

Sales & Business Development Department

3.0

• posted on 15 Jan 2025

2.0

for Salary and Benefits

Likes

Mid level managers are not supported to grow ground team in terms appraisal promotions to management,work balance also not manageable.

Dislikes

Salary hike not up to the mark if achieve annual target 100% and more than ,variables policy announced very late after completing 100%

Salary - Poor

+2 more

Senior Application Support Engineer in Mumbai

Full Time

IT & Information Security Department

4.0

• posted on 28 Jul 2023

4.0

for Salary and Benefits

Likes

Activity going on weekend (every Friday) Supporting people and management. Good environment to work Birthday celebration all together with team.

Salary - Good

+4 more

Dislikes

...mething new or promotion is not good in our field As per my personal experience. Salary hike appraisal delayed this year. Work load is not managed properly.

Deputy Area Manager in Hazaribag

Full Time

Sales & Business Development Department

5.0

• posted on 25 Jun 2022

5.0

for Salary and Benefits

Likes

...ve teammates are supportive. Management is transparent ,company policy are good.job security, appraisal are fair and they give good salary hike.

Salary - Excellent

+6 more

Dislikes

Verticalisation ,politics salary is good but career growth is slow,

Senior Territory Manager in Coimbatore

Full Time

BFSI, Investments & Trading Department

2.0

• posted on 29 May 2021

1.0

for Salary and Benefits

Likes

... Assist, Wedding Bonus, New born baby gift, Medical assist, Birthday gift etc. Main Part - Salary slab was very worst and no increment, Executives stay 5 + year experience but salary at end they only out for 230000PA and starts with 180000 PA which is terrible and all work for salary that is not get what we work. Incentive was not given proper time as per time line eg: Quarterly plan, they provide incentive after 6months of that quarter and they not provide calculation for that incentive what we received

Salary - Bad

+6 more

Senior Business Development Executive in Bhubaneswar

BFSI, Investments & Trading Department

4.0

• posted on 12 May 2018

3.0

for Salary and Benefits

Likes

There is a friendly atmosphere to work here,we have maintain a good work life balance here and the most important thing is we have more job security here.

Skill development - Good

+4 more

Dislikes

Here the salary and remuneration is not good as compared of other industry.

see more salary related reviews

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Salary Discussions, Hike & Promotions

Experience - 5.9 Tech - React.js CTC- 13LPA Current company - TCS Offer in the process - Nagarro (19LPA) My LWD is 24th May, but I told Nagarro I can be released in 30 days. Now, should I: 1. Be honest and say I can join on 25th May? 2. Commit to 25th April and request a DOJ extension later?(By telling them some emergency) Q1). If I choose option 1, is there a risk they won’t release the offer?(As I am being hired for a particular project, so will they go for some immediate candidates?) Q2). If I choose option 2, could they revoke the offer?(As the HR told changing the DOJ in released offer letter is not possible

Nagarro offer: Kindly Help me to decide

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Mahindra Insurance Brokers Deputy Manager Salary FAQs

What is the salary of Deputy Manager at Mahindra Insurance Brokers in Mumbai?

The average salary of a Deputy Manager at Mahindra Insurance Brokers in Mumbai typically ranges from ₹4.5 Lakhs to ₹10.0 Lakhs per year, depending on experience (from 5 years to 14 years).

The top 10% of Deputy Manager in Mumbai at Mahindra Insurance Brokers earn more than ₹9.1 Lakhs per year, and the top 1% earn over ₹10.0 Lakhs per year. Deputy Manager Salaries at Mahindra Insurance Brokers 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 20+ Mahindra Insurance Brokers employees in India.

What is the estimated take home salary of a Deputy Manager at Mahindra Insurance Brokers in Mumbai?

The estimated take-home salary of a Deputy Manager at Mahindra Insurance Brokers in Mumbai typically ranges from ₹52,560 to ₹53,798 per month. This is based on the average salary range of ₹4.5 Lakhs to ₹10.0 Lakhs per year for employees with experience ranging from 5 years to 14 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 20+ salaries received from various employees of Mahindra Insurance Brokers. Check how we calculate in-hand salary with our in-hand salary calculator.

Which companies offer higher salaries than Mahindra Insurance Brokers for Deputy Manager in India?

Marsh	₹10.0 Lakhs to ₹12.0 Lakhs per year
ManipalCigna Health Insurance	₹5.5 Lakhs to ₹14.5 Lakhs per year
Universal Sompo General Insurance	₹7.0 Lakhs to ₹12.2 Lakhs per year
Future Generali India Life Insurance	₹4.3 Lakhs to ₹14.5 Lakhs per year
CignaTTk Health Insurance	₹5.4 Lakhs to ₹11.4 Lakhs per year

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

What is the salary of a Deputy Manager in companies similar to Mahindra Insurance Brokers in Mumbai?

The salary of a Deputy Manager at companies similar to Mahindra Insurance Brokers in Mumbai varies, depending on the role, experience, and company size. Here are the typical salary ranges:

Magma HDI General Insurance	₹5.8 Lakhs to ₹10.5 Lakhs per year
Cholamandalam MS General Insurance	₹5.6 Lakhs to ₹11.0 Lakhs per year
Aditya Birla Health Insurance Co	₹4.2 Lakhs to ₹12.6 Lakhs per year
IndiaFirst Life Insurance	₹4.0 Lakhs to ₹10.7 Lakhs per year
Family Health Plan	₹4.0 Lakhs to ₹7.0 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 Deputy Manager at Mahindra Insurance Brokers in Mumbai?

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

Experience	Average Salary Range
5 years	₹5.8 Lakhs to ₹7.4 Lakhs per year
6 years	₹5.9 Lakhs to ₹7.5 Lakhs per year
7 years	₹6.0 Lakhs to ₹7.6 Lakhs per year
8 years	₹6.1 Lakhs to ₹7.7 Lakhs per year

and so on.

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Mahindra Insurance Brokers Deputy Manager Salaries in Mumbai

Mahindra Insurance Brokers Deputy Manager salary in Mumbai ranges between ₹4.5 Lakhs to ₹10 Lakhs with an average annual salary of ₹. Salary estimates are based on 23 Mahindra Insurance Brokers latest salaries received from various employees of Mahindra Insurance Brokers.