SBI Life Insurance Company Mumbai Associate Salaries by 20+ Employees (Updated 2025)

1 - 6 years exp.

₹1.1 Lakh - ₹4.5 Lakhs

Avg. annual salary

Monthly In-hand Salary

69% less than the average Associate Salary in Insurance Companies for 1 - 6 years of experience

Interested in this particular role?

Salaries in different departments

Customer Success, Service & Operations Associate Salary 1 - 6 years exp. (10 salaries)	₹1.1 L/yr - ₹4.5 L/yr
Human Resources Associate Salary 1 - 3 years exp. (6 salaries)	₹1.6 L/yr - ₹3.4 L/yr
Login to view exact salary
BFSI, Investments & Trading Associate Salary 3 - 5 years exp. (5 salaries)	₹2 L/yr - ₹3.1 L/yr
Marketing & Communication Associate Salary 1 - 3 years exp. (AmbitionBox Estimate)	₹1.7 L/yr - ₹3 L/yr
Finance & Accounting Associate Salary 4 years exp. (AmbitionBox Estimate)	₹2 L/yr - ₹4 L/yr

View all

Last Updated: 6 Apr 2025

Companies similar to SBI Life Insurance Company for Associate in Mumbai

SBI Life Insurance Company Associate Salary

1 - 6 years exp. (28 salaries)

₹1.1 L/yr - ₹4.5 L/yr

Company name	Avg Annual Salary	Open Jobs
ICICI Prudential Life Insurance Associate Salary 0 - 7 years exp. (141 salaries)	₹1.7 L/yr - ₹4 L/yr 40% more
HDFC Life Associate Salary 1 - 3 years exp. (108 salaries)	₹1.2 L/yr - ₹3.2 L/yr 13% less
Login to view exact salary
HDFC Ergo General Insurance Associate Salary 1 - 8 years exp. (59 salaries)	₹1.8 L/yr - ₹5.2 L/yr 54% more
Aditya Birla Health Insurance Co Associate Salary 1 - 6 years exp. (32 salaries)	₹1.8 L/yr - ₹4 L/yr 22% more
Kotak Mahindara Life Insurance Associate Salary 0 - 6 years exp. (28 salaries)	₹1.3 L/yr - ₹2.6 L/yr 17% less
ICICI Lombard General Insurance Company Associate Salary 0 - 6 years exp. (20 salaries)	₹1.1 L/yr - ₹3.3 L/yr 2% more
Aditya Birla Sun Life Insurance Associate Salary 1 - 5 years exp. (13 salaries)	₹1.7 L/yr - ₹3 L/yr 4% more
Tata AIA Life Insurance Associate Salary 1 - 6 years exp. (5 salaries)	₹2 L/yr - ₹4.4 L/yr 36% more
Axis Max Life Insurance Associate Salary 3 - 5 years exp. (3 salaries)	₹2.2 L/yr - ₹3.5 L/yr 24% more

Associate salary at SBI Life Insurance Company ranges between ₹1.1 Lakh to ₹4.5 Lakhs per year for employees with experience between 1 year to 6 years. Salary estimates are based on 28 latest salaries received from various employees of SBI Life Insurance Company.

Latest annual salaries shared by SBI Life Insurance Company Associate in Mumbai

4d ago

₹2.5 Lakhs

2 years exp.

1mo ago

₹1.8 Lakh

3 years exp.

4mo ago

₹4 Lakhs

4 years exp.

4mo ago

₹1.8 Lakh

2 years exp.

11mo ago

₹1.3 Lakh

1 year exp.

11mo ago

1 year exp.

1y ago

6 years exp.

1y ago

6 years exp.

1y ago

5 years exp.

1y ago

3 years exp.

Experience wise SBI Life Insurance Company Associate salaries in Mumbai

Last Updated: 6 Apr 2025

Experience	Avg Annual Salary
1 year (7 salaries)	₹1.1 L/yr - ₹2.7 L/yr
2 years (4 salaries)	₹1.8 L/yr - ₹2.8 L/yr
Login to view exact salary
3 years (9 salaries)	₹1.6 L/yr - ₹3.4 L/yr
4 years (AmbitionBox Estimate)	₹2.4 L/yr - ₹3.1 L/yr
5 years (4 salaries)	₹2.4 L/yr - ₹4.5 L/yr
6 years (AmbitionBox Estimate)	₹2.7 L/yr - ₹3.5 L/yr

View all

From

Associate

₹

Lakhs/yr

0 - 6 years exp.

Zonal Area Manager

₹

Lakhs/yr

14 - 21 years exp.

Associate

0 - 6 years exp.

Senior Associate

0 - 11 years exp.

71% hike

BDM

2 - 9 years exp.

8% hike

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 SBI Life Insurance Company

Senior Associate Salary

(97 salaries)

₹3 L/yr - ₹6.8 L/yr

Team Lead Salary

(5 salaries)

₹3.6 L/yr - ₹4.8 L/yr

Plsql Developer Salary

(5 salaries)

₹4.25 L/yr - ₹7 L/yr

Software Engineer Salary

(4 salaries)

₹6.5 L/yr - ₹8.5 L/yr

Java Developer Salary

(3 salaries)

₹3 L/yr - ₹5.2 L/yr

Salary related reviews for SBI Life Insurance Company

3.4

Rated by 4 employees for salary & benefits

Associate in Mumbai

BFSI, Investments & Trading Department

4.0

• posted on 26 Apr 2022

3.0

for Salary and Benefits

Likes

...r service,etc.. In my opinion Company policies, culture, job security is Good.. Company provide huge salary and bonus in every year..

Skill development - Good

+3 more

Dislikes

I have only one dislike about the company, Now the Company will not appoint any off roll staff to on roll.. Even if they were more brilliant and efficient person..

Promotions - Poor

Associate in Bolpur, Santiniketan

Full Time

Other Department

3.0

• posted on 21 Nov 2024

5.0

for Salary and Benefits

Likes

Very good company. I am developing my skills and knowledge every moment. Salary and benifits is very good asa well as SBI Life think for there employee.

Salary - Excellent

+5 more

Dislikes

Work timings is very dis satisfied. We can not balanced Wrok and personal life timings for there office timings.

Work-life balance - Bad

Associate in Bangalore / Bengaluru

Finance & Accounting Department

3.0

• posted on 08 Mar 2022

3.0

for Salary and Benefits

Likes

Good work environment and culture. Teammates are supportive and the management is transparent. There scope for growth.

Job security - Excellent

Dislikes

There is a lot of politics and the management dosen't address our issue. Salary is not up to the mark but career growth is very slow.

Promotions - Poor

+2 more

Senior Associate in New Delhi

Full Time

Customer Success, Service & Operations Department

4.0

• posted on 30 May 2022

3.0

for Salary and Benefits

Likes

Average work environment and culture . Teammates are supportive and the management is selfish. Company policies are bad . Appraisals not fair in this company.

Job security - Good

Dislikes

There is a lot of politics and the management doesn't address our issues. Salary is decent but career growth is very slow

Work satisfaction - Poor

+2 more

Senior Associate in Jaipur

Full Time

BFSI, Investments & Trading Department

4.0

• posted on 29 Apr 2018

3.0

for Salary and Benefits

Likes

Company is

Job security - Good

+1 more

Dislikes

Company is good but as per process of career growth, it is very slow. Company's salary structure is also not good. My salary is less than a person who is coming on my position which I had before 2 years

see more salary related reviews

Discover interview dos and don'ts from real experiences

Top trending discussions

View All

Salary Discussions, Hike & Promotions

My current CTC is ₹7,80,660, which includes a ₹1,32,000 night shift allowance, and my monthly take-home pay is ₹72,133. I have received a new job offer with a CTC of ₹10,67,231, a monthly take-home pay of ₹83,333, and 192 restricted stock units (each valued at $60, vesting 25% after one year and quarterly thereafter). This new position is closer to my home and does not involve night shifts. The offer letter is attached. I have also requested a ₹95,000 monthly salary increase and am awaiting their response. Could someone advise me on whether I should accept the new offer or remain in my current role?

Got a question about SBI Life Insurance Company?

Ask anonymously on communities.

SBI Life Insurance Company Associate Salary FAQs

What is the salary of Associate at SBI Life Insurance Company in Mumbai?

The average salary of a Associate at SBI Life Insurance Company in Mumbai typically ranges from ₹1.1 Lakhs to ₹4.5 Lakhs per year, depending on experience (from 1 year to 6 years).

The top 10% of Associate in Mumbai at SBI Life Insurance Company earn more than ₹3.4 Lakhs per year, and the top 1% earn over ₹4.5 Lakhs per year. Associate Salaries at SBI Life Insurance Company 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+ SBI Life Insurance Company employees in India.

What is the estimated take home salary of a Associate at SBI Life Insurance Company in Mumbai?

The estimated take-home salary of a Associate at SBI Life Insurance Company in Mumbai typically ranges from ₹17,412 to ₹19,114 per month. This is based on the average salary range of ₹1.1 Lakhs to ₹4.5 Lakhs per year for employees with experience ranging from 1 year to 6 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 SBI Life Insurance Company. Check how we calculate in-hand salary with our in-hand salary calculator.

Which companies offer higher salaries than SBI Life Insurance Company for Associate in India?

HDFC Ergo General Insurance	₹1.8 Lakhs to ₹5.2 Lakhs per year
ICICI Prudential Life Insurance	₹1.7 Lakhs to ₹4.0 Lakhs per year
Tata AIA Life Insurance	₹2.0 Lakhs to ₹4.4 Lakhs per year
Axis Max Life Insurance	₹2.2 Lakhs to ₹3.5 Lakhs per year
Aditya Birla Health Insurance Co	₹1.8 Lakhs to ₹4.0 Lakhs per year

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

What is the salary of a Associate in companies similar to SBI Life Insurance Company in Mumbai?

The salary of a Associate at companies similar to SBI Life Insurance Company in Mumbai varies, depending on the role, experience, and company size. Here are the typical salary ranges:

Aditya Birla Sun Life Insurance	₹1.7 Lakhs to ₹3.0 Lakhs per year
ICICI Lombard General Insurance Company	₹1.1 Lakhs to ₹3.3 Lakhs per year
HDFC Life	₹1.2 Lakhs to ₹3.2 Lakhs per year
Kotak Mahindara Life Insurance	₹1.3 Lakhs to ₹2.6 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 Associate at SBI Life Insurance Company in Mumbai?

The salary growth for a Associate at SBI Life Insurance Company in Mumbai depends on factors such as experience, performance, and promotions. On average, a Associate in Mumbai can expect the following growth trajectory at SBI Life Insurance Company:

Experience	Average Salary Range
1 year	₹1.1 Lakhs to ₹2.7 Lakhs per year
2 years	₹1.8 Lakhs to ₹2.8 Lakhs per year
3 years	₹1.6 Lakhs to ₹3.4 Lakhs per year
4 years	₹2.4 Lakhs to ₹3.1 Lakhs per year

and so on.

Tell us how to improve this page.

Home >
Salaries >
SBI Life Insurance Company Salaries >
SBI Life Insurance Company Associate Salaries >
SBI Life Insurance Company Associate Salaries in Mumbai

SBI Life Insurance Company Associate salary in Mumbai ranges between ₹1.1 Lakh to ₹4.5 Lakhs with an average annual salary of ₹. Salary estimates are based on 28 SBI Life Insurance Company latest salaries received from various employees of SBI Life Insurance Company.