SBI Life Insurance Company Development Manager Salaries by 300+ Employees (Updated 2025)

0 - 12 years exp.

₹1.8 Lakh - ₹4.8 Lakhs

Salary of majority employees

75% less than the average Development Manager Salary in Insurance Companies for 0 - 12 years of experience

Interested in this particular role? 2 job openings

Salaries in different departments

Sales & Business Development Development Manager Salary 0 - 12 years exp. (95 salaries)	₹2.3 L/yr - ₹4.5 L/yr
BFSI, Investments & Trading Development Manager Salary 0 - 11 years exp. (65 salaries)	₹1.8 L/yr - ₹4.8 L/yr
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Marketing & Communication Development Manager Salary 0 - 8 years exp. (31 salaries)	₹1.8 L/yr - ₹4.5 L/yr
Customer Success, Service & Operations Development Manager Salary 0 - 10 years exp. (29 salaries)	₹2.4 L/yr - ₹4.5 L/yr
Finance & Accounting Development Manager Salary 0 - 9 years exp. (24 salaries)	₹2 L/yr - ₹4.5 L/yr

Last Updated: 22 Mar 2025

Companies similar to SBI Life Insurance Company for Development Manager

Company name	Avg Annual Salary	Open Jobs
ICICI Prudential Life Insurance Development Manager Salary 1 - 10 years exp. (132 salaries)	₹2.2 L/yr - ₹5 L/yr 18% more
ICICI Lombard General Insurance Company Development Manager Salary 0 - 6 years exp. (66 salaries)	₹2.8 L/yr - ₹4.3 L/yr At par
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Kotak Mahindara Life Insurance Development Manager Salary 0 - 9 years exp. (55 salaries)	₹3.2 L/yr - ₹4.7 L/yr 24% more
Axis Max Life Insurance Development Manager Salary 0 - 12 years exp. (42 salaries)	₹2.7 L/yr - ₹5.1 L/yr 15% more
HDFC Life Development Manager Salary 0 - 6 years exp. (20 salaries)	₹2.6 L/yr - ₹4.3 L/yr 8% more
HDFC Ergo General Insurance Development Manager Salary 4 - 12 years exp. (12 salaries)	₹5 L/yr - ₹6.7 L/yr 74% more
Reliance Nippon Life Insurance Development Manager Salary 1 - 6 years exp. (9 salaries)	₹1.9 L/yr - ₹4.1 L/yr 14% less	2 job openings
Tata AIA Life Insurance Development Manager Salary 6 - 30 years exp. (4 salaries)	₹4.5 L/yr - ₹17 L/yr 183% more
Shriram Life Insurance Development Manager Salary 14 - 21 years exp. (4 salaries)	₹3.7 L/yr - ₹4 L/yr 12% more
SBI General Insurance Development Manager Salary 1 - 7 years exp. (4 salaries)	₹1 L/yr - ₹4.5 L/yr 7% less
Life Insurance Corporation of India Development Manager Salary 1 - 12 years exp. (4 salaries)	₹2.4 L/yr - ₹8 L/yr 64% more
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Star Health & Allied Insurance Development Manager Salary 0 - 4 years exp. (4 salaries)	₹1.8 L/yr - ₹7 L/yr 21% more
Bajaj Allianz Life Insurance Development Manager Salary 0 - 7 years exp. (3 salaries)	₹3.5 L/yr - ₹4.5 L/yr 22% more

Development Manager salary at SBI Life Insurance Company ranges between ₹1.8 Lakh to ₹4.8 Lakhs per year for employees with less than 1 year of experience to 12 years. Salary estimates are based on 345 latest salaries received from various employees of SBI Life Insurance Company.

Experience wise SBI Life Insurance Company Development Manager salaries

Last Updated: 22 Mar 2025

Experience	Avg Annual Salary
Fresher (28 salaries)	₹1.8 L/yr - ₹3.5 L/yr
1 year (53 salaries)	₹1.8 L/yr - ₹4.5 L/yr
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2 years (47 salaries)	₹1.8 L/yr - ₹4.2 L/yr
3 years (54 salaries)	₹2.1 L/yr - ₹4.5 L/yr
4 years (42 salaries)	₹2.1 L/yr - ₹4.5 L/yr
5 years (33 salaries)	₹2.3 L/yr - ₹4.5 L/yr
6 years (33 salaries)	₹2 L/yr - ₹4 L/yr
7 years (19 salaries)	₹2.4 L/yr - ₹4.5 L/yr
8 years (18 salaries)	₹2.5 L/yr - ₹4.8 L/yr
9 years (4 salaries)	₹3.2 L/yr - ₹4.5 L/yr
10 years (11 salaries)	₹3 L/yr - ₹4.1 L/yr
11 years (AmbitionBox Estimate)	₹3.2 L/yr - ₹4.1 L/yr
12 years (AmbitionBox Estimate)	₹3.3 L/yr - ₹4.2 L/yr

View all

Similar Designation salaries in SBI Life Insurance Company

Project Manager Salary

(7 salaries)

₹6.75 L/yr - ₹14.5 L/yr

Product Manager Salary

(15 salaries)

₹7.8 L/yr - ₹14.5 L/yr

Program Manager Salary

(3 salaries)

₹12.1 L/yr - ₹20 L/yr

Technical Manager Salary

(3 salaries)

₹11 L/yr - ₹20.6 L/yr

Senior Project Manager Salary

(AmbitionBox Estimate)

₹8.5 L/yr - ₹10.8 L/yr

Senior Engineering Manager Salary

(AmbitionBox Estimate)

₹31.5 L/yr - ₹40.3 L/yr

Software Engineer Salary

(6 salaries)

₹6.5 L/yr - ₹8.5 L/yr

Technical Lead Salary

(AmbitionBox Estimate)

₹3.9 L/yr - ₹4.9 L/yr

Senior Consultant Salary

(3 salaries)

₹13 L/yr - ₹33 L/yr

Technical Architect Salary

(AmbitionBox Estimate)

₹14.4 L/yr - ₹18.4 L/yr

Top skills at SBI Life Insurance Company for Development Manager

Sales Tied Channel Casa Insurance Pharmaceutical Sales

Salary related reviews for SBI Life Insurance Company

3.5

Rated by 184 employees for salary & benefits

Development Manager in Jhargram

Full Time

BFSI, Investments & Trading Department

2.0

• posted on 18 Oct 2023

1.0

for Salary and Benefits

Likes

...R profile like a puppet.Every single decesion are managed by higher authorities. No work and life balance, salary are on time but no increment very pathetic salary structure. No self respect. No work time. No emotion . Daily pressure. Vary vary bad 😭

Job security - Good

+1 more

Dislikes

Every thing Accept salary on time

Salary - Bad

+4 more

Development Manager in Kolhapur

Full Time

Sales & Business Development Department

3.0

• posted on 23 Mar 2024

2.0

for Salary and Benefits

Likes

SBI LIFE company one of d best Lerner and advance business development company. I learnt about recruitment, business development, product knowledge, proper training, market identification, prospect screening everything... This base given me stronger now make my leadership skills, culture is very good, supportive operation staff, digital marketing services also digital payment security is one of d best function. I like learning, build relationships with my team, products and culture.

Skill development - Good

+2 more

Dislikes

It's issue about low salary, holiday weekend not allowed, some seniors behaviour very rude and harrasment. Company HR not responded after leaving job, some manager HR not understanding what is situation about employee. Very badly speak in front of our team, ts hurt.

Salary - Poor

Development Manager in New Delhi

Full Time

Other Department

5.0

• posted on 25 Nov 2023

5.0

for Salary and Benefits

Likes

Company is very good mangement is also good everyone supporting everything

Salary - Excellent

+6 more

Dislikes

There are not supporting lead and salary is fixed convince is fixed adviser earn more commission and incentives is very cheap

Development Manager in Chikkaballapur

Full Time

BFSI, Investments & Trading Department

5.0

• posted on 05 Aug 2023

5.0

for Salary and Benefits

Likes

Good company banded n work culture is very good company provide salary before 31st to motivate employees

Salary - Excellent

+4 more

Dislikes

As its a sales profile it involves pressure n one more thing us as v appoint advisors advisors won't work only DM should work n give benefits to the lm sone lms are only for fulfilling job criteria 90% LM job is going to be done by DM only

Product Manager in Mumbai

Engineering - Software & QA Department

5.0

• posted on 03 Sep 2020

3.0

for Salary and Benefits

Likes

During this Covid-19, SBI Life is very supportive & understands the situation well. SBI Life is allowing and encouraging it's employees to work from home, for the same company's IT team is providing all support and resources to make work from home convenient for all.

Skill development - Excellent

+3 more

Dislikes

Career growth and opportunities are low. Compensation n Benefits are average.

Promotions - Poor

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a manager - business analyst

Shifting from Bangalore to Hyderabad

I’m working in Bangalore for last 9 years. Currently I got 2 offers. 1. CTS - Bangalore (CTC - 22.7 LPA) 2. Deloitte - Hyderabad (CTC - 24.2 LPA) Is it good move to shift to Hyderabad for Deloitte ? Is it ok to ask the HR if my base location can be changed to Bangalore ? Please share your thoughts

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SBI Life Insurance Company Development Manager Salary FAQs

What is the salary of Development Manager at SBI Life Insurance Company ?

The average salary of a Development Manager at SBI Life Insurance Company in India typically ranges from ₹1.8 Lakhs to ₹4.8 Lakhs per year, depending on experience (from Fresher to 12 years).

The top 10% of Development Manager at SBI Life Insurance Company earn more than ₹4.0 Lakhs per year, and the top 1% earn over ₹4.5 Lakhs per year. Development Manager 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 300+ SBI Life Insurance Company employees in India.

What is the estimated take home salary of a Development Manager at SBI Life Insurance Company in India?

The estimated take-home salary of a Development Manager at SBI Life Insurance Company in India typically ranges from ₹23,755 to ₹25,213 per month. This is based on the average salary range of ₹1.8 Lakhs to ₹4.8 Lakhs per year for employees with experience ranging from Fresher to 12 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 300+ salaries received from various employees of SBI Life Insurance Company. Check how we calculate in-hand salary with our in-hand salary calculator.

What are the key skills required to be a Development Manager at SBI Life Insurance Company ?

To be a Development Manager at SBI Life Insurance Company in india, the key skills required include:

- Sales
- Tied Channel
- Casa
- Insurance
- Pharmaceutical Sales

These skills are highly valued at SBI Life Insurance Company and are crucial for successful performance in a Software Engineering role.

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

Tata AIA Life Insurance	₹4.5 Lakhs to ₹17.0 Lakhs per year
HDFC Ergo General Insurance	₹5.0 Lakhs to ₹6.7 Lakhs per year
Life Insurance Corporation of India	₹2.4 Lakhs to ₹8.0 Lakhs per year
Kotak Mahindara Life Insurance	₹3.2 Lakhs to ₹4.7 Lakhs per year
Bajaj Allianz Life Insurance	₹3.5 Lakhs to ₹4.5 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 Development Manager in companies similar to SBI Life Insurance Company in India?

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

Star Health & Allied Insurance	₹1.8 Lakhs to ₹7.0 Lakhs per year
ICICI Prudential Life Insurance	₹2.2 Lakhs to ₹5.0 Lakhs per year
Axis Max Life Insurance	₹2.7 Lakhs to ₹5.1 Lakhs per year
Shriram Life Insurance	₹3.7 Lakhs to ₹4.0 Lakhs per year
HDFC Life	₹2.6 Lakhs to ₹4.3 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 Development Manager at SBI Life Insurance Company in India?

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

Experience	Average Salary Range
Fresher	₹1.8 Lakhs to ₹3.5 Lakhs per year
1 year	₹1.8 Lakhs to ₹4.5 Lakhs per year
2 years	₹1.8 Lakhs to ₹4.2 Lakhs per year
3 years	₹2.1 Lakhs to ₹4.5 Lakhs per year

and so on.

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SBI Life Insurance Company Development Manager Salaries by Location

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SBI Life Insurance Company Development Manager Salaries

SBI Life Insurance Company Development Manager salary in India ranges between ₹1.8 Lakh to ₹4.8 Lakhs with an average annual salary of ₹. Salary estimates are based on 345 SBI Life Insurance Company latest salaries received from various employees of SBI Life Insurance Company.

SBI Life Insurance Company Development Manager salaries in India (Updated 2025)

Companies similar to SBI Life Insurance Company for Development Manager

Latest annual salaries shared by SBI Life Insurance Company Development Manager

Experience wise SBI Life Insurance Company Development Manager salaries

Similar Designation salaries in SBI Life Insurance Company

Top skills at SBI Life Insurance Company for Development Manager

Salary related reviews for SBI Life Insurance Company

Development Manager in Jhargram

Development Manager in Kolhapur

Development Manager in New Delhi

Development Manager in Chikkaballapur

Product Manager in Mumbai

SBI Life Insurance Company Development Manager Salary FAQs

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SBI Life Insurance Company Development Manager Salaries by Location