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SBI Life Insurance Company Associate salaries in Mumbai (Updated 2025)

Annual salary range
1 - 6 years exp.
₹1.1 Lakh - ₹4.5 Lakhs
Salary of majority employees
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Fixed (100%)
₹2.6 Lakhs
Variable (0%)
₹0.0
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68% less than the average Associate Salary in Insurance Companies for 1 - 6 years of experience

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Salaries in different departments

Customer Success, Service & Operations
Associate Salary
1 - 6 years exp. (9 salaries)
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₹1.1 L/yr - ₹4.5 L/yr

Human Resources
Associate Salary
1 - 3 years exp. (6 salaries)
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₹1.6 L/yr - ₹3.4 L/yr

BFSI, Investments & Trading
Associate Salary
3 - 5 years exp. (5 salaries)
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₹2 L/yr - ₹3 L/yr

Marketing & Communication
Associate Salary
1 - 3 years exp. (AmbitionBox Estimate)
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₹1.7 L/yr - ₹3.1 L/yr

Finance & Accounting
Associate Salary
4 years exp. (AmbitionBox Estimate)
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₹2.5 L/yr - ₹4 L/yr

View all

Last Updated: 22 Feb 2025

Companies similar to SBI Life Insurance Company for Associate in Mumbai

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SBI Life Insurance Company Associate Salary

1 - 6 years exp. (27 salaries)

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₹1.1 L/yr - ₹4.5 L/yr

vs
Company name Avg Annual Salary Open Jobs
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₹1.7 L/yr - ₹4 L/yr

arrow icon 34% more
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HDFC Life Associate Salary

0 - 4 years exp. (124 salaries)

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₹1.1 L/yr - ₹3.3 L/yr

arrow icon 21% less
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HDFC Ergo General Insurance Associate Salary

1 - 8 years exp. (59 salaries)

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₹1.8 L/yr - ₹5.2 L/yr

arrow icon 50% more
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₹1.8 L/yr - ₹4 L/yr

arrow icon 18% more
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₹1.3 L/yr - ₹2.6 L/yr

arrow icon 19% less
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₹1.1 L/yr - ₹3.3 L/yr

arrow icon 1% less
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₹1.7 L/yr - ₹3 L/yr

arrow icon 1% more
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Tata AIA Life Insurance Associate Salary

1 - 6 years exp. (5 salaries)

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₹2 L/yr - ₹4.4 L/yr

arrow icon 33% more
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Axis Max Life Insurance Associate Salary

3 - 5 years exp. (3 salaries)

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₹2.2 L/yr - ₹3.5 L/yr

arrow icon 21% 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 27 latest salaries received from various employees of SBI Life Insurance Company.

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

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Experience wise SBI Life Insurance Company Associate salaries in Mumbai

Last Updated: 22 Feb 2025

Experience Avg Annual Salary
1 year  (7 salaries)

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₹1.1 L/yr - ₹2.7 L/yr
2 years  (3 salaries)

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₹1.8 L/yr - ₹2.8 L/yr
3 years  (9 salaries)

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₹1.6 L/yr - ₹3.4 L/yr
4 years (AmbitionBox Estimate)

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₹2.4 L/yr - ₹3 L/yr
5 years  (4 salaries)

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₹2.4 L/yr - ₹4.5 L/yr
View all
SBI Life Insurance Company Associate Salary and Career Growth

From

To

Associate

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1 - 6 years exp.

Zonal Area Manager

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14 - 21 years exp.

Associate

1 - 6 years exp.
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Senior Associate

0 - 11 years exp.
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arrow icon 65% hike

BDM

2 - 10 years exp.
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arrow icon 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

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₹3 L/yr - ₹6.75 L/yr
Team Lead Salary
(5 salaries)
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₹3.6 L/yr - ₹4.8 L/yr
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₹4.25 L/yr - ₹7 L/yr
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₹6.5 L/yr - ₹8.5 L/yr
Java Developer Salary
(3 salaries)
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₹3 L/yr - ₹5.2 L/yr

Salary related reviews for SBI Life Insurance Company

3.4

Rated by 4 employees for salary & benefits

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..

read more
  • 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..

read more
  • Promotions - Poor

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.

read more
  • 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

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.

read more
  • Promotions - Poor
  • +2 more

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.

read more
  • 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

read more
  • Work satisfaction - Poor
  • +2 more

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

read more
see more salary related reviews

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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 ₹17,969 to ₹19,663 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
Kotak Mahindara Life Insurance ₹1.3 Lakhs to ₹2.6 Lakhs per year
HDFC Life ₹1.1 Lakhs to ₹3.3 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 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 ₹3.0 Lakhs per year
and so on.

Tell us how to improve this page.

SBI Life Insurance Company Associate salary in Mumbai ranges between ₹1.1 Lakh to ₹4.5 Lakhs with an average annual salary of ₹unlock blur. Salary estimates are based on 27 SBI Life Insurance Company latest salaries received from various employees of SBI Life Insurance Company.