SBI Life Insurance Company Mumbai Manager M1 Salaries by 3 Employees (Updated 2025)

3 - 17 years exp.

₹8.6 Lakhs - ₹11.6 Lakhs

Low Confidence

Salary of majority employees

At par with the average Manager M1 Salary in Insurance Companies for 3 - 17 years of experience

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Salaries in different departments

BFSI, Investments & Trading Manager M1 Salary 3 - 4 years exp. (AmbitionBox Estimate)	₹11.5 L/yr - ₹11.6 L/yr
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Customer Success, Service & Operations Manager M1 Salary 17 years exp. (AmbitionBox Estimate)	₹7.7 L/yr - ₹9.4 L/yr

Last Updated: 28 Jul 2023

Companies similar to SBI Life Insurance Company for Manager M1 in Mumbai

SBI Life Insurance Company Manager M1 Salary

3 - 17 years exp. (3 salaries)

₹8.6 L/yr - ₹11.6 L/yr

Company name	Avg Annual Salary	Open Jobs
ICICI Prudential Life Insurance Manager M1 Salary 1 - 11 years exp. (25 salaries)	₹6 L/yr - ₹9.5 L/yr 28% less
Aditya Birla Sun Life Insurance Manager M1 Salary 6 - 14 years exp. (4 salaries)	₹8.4 L/yr - ₹9.3 L/yr 17% less
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HDFC Ergo General Insurance Manager M1 Salary 5 - 10 years exp. (8 salaries)	₹8.5 L/yr - ₹14 L/yr 10% less
ICICI Lombard General Insurance Company Manager M1 Salary 2 - 3 years exp. (3 salaries)	₹6.5 L/yr - ₹6.7 L/yr 37% less
ICICI Bank Manager M1 Salary 1 - 17 years exp. (496 salaries)	₹4.5 L/yr - ₹15.9 L/yr 3% more

Manager M1 salary at SBI Life Insurance Company ranges between ₹8.6 Lakhs to ₹11.6 Lakhs per year for employees with experience between 3 years to 17 years. Salary estimates are based on 3 latest salaries received from various employees of SBI Life Insurance Company.

Experience wise SBI Life Insurance Company Manager M1 salaries in Mumbai

Last Updated: 28 Jul 2023

Experience	Avg Annual Salary
3 years (AmbitionBox Estimate)	₹10.4 L/yr - ₹13.2 L/yr
4 years (AmbitionBox Estimate)	₹10.4 L/yr - ₹13.3 L/yr
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15+ years (AmbitionBox Estimate)	₹7.7 L/yr - ₹9.8 L/yr

Similar Designation salaries in SBI Life Insurance Company

Area Manager Salary

(16 salaries)

₹7.5 L/yr - ₹13.5 L/yr

Operations Manager Salary

(9 salaries)

₹7.3 L/yr - ₹10 L/yr

Deputy Manager Salary

(7 salaries)

₹4.5 L/yr - ₹10 L/yr

Branch Manager Salary

(7 salaries)

₹8 L/yr - ₹11.2 L/yr

Team Lead Salary

(5 salaries)

₹3.6 L/yr - ₹4.8 L/yr

Project Manager Salary

(4 salaries)

₹6.75 L/yr - ₹14 L/yr

Team Manager Salary

(3 salaries)

₹7.5 L/yr - ₹12 L/yr

Program Manager Salary

(3 salaries)

₹12.2 L/yr - ₹20 L/yr

Salary related reviews for SBI Life Insurance Company

Business Development Manager in Rajkot

Full Time

Sales & Business Development Department

3.0

• posted on 01 Feb 2023

2.0

for Salary and Benefits

Likes

Company culture is very bad only pressure nothing or

Dislikes

Official working days me bhi office bulate hain aur bill pay nahi karte hain personal life jaish kuchh nahi rehta hain aur morning 7:00am zoom start kar dete hain

Salary - Poor

+6 more

Business Development Manager in Jaipur

Full Time

Sels Department

5.0

• posted on 12 Apr 2021

5.0

for Salary and Benefits

Likes

...gement is transparent. There is a huge cafeteria and gaming arcade for chilling. Company policies are good, appraisals are fair and they give good salary hike and bonus every year.

Salary - Excellent

+6 more

Dislikes

There is a lot of politics and the management doesn’t address our issues. Salary is decent but career growth is slow. There is a bond of 2 years before which you cannot resign. On the job training is not given to new joinees.

Business Development Manager in Work Form Bank And Field

Full Time

BFSI, Investments & Trading Department

3.0

• posted on 25 Sep 2023

1.0

for Salary and Benefits

Likes

Only Job Security,

Job security - Good

Dislikes

...hear from long time. Only due to not get any increment I have left the job..... You will hire new persons on higher package but you won't retain ur old employes on giving them some litter bit hike or increment. My humble request to you that plz take care of your old employes who are working on lower package or CTC, from long time...plz don't force them to leave the job due to lower Package... And plz start Rehiring. Lots of old employes are ready to work with sbilife Again.🙏

Salary - Bad

+3 more

Business Development Manager in Bangalore / Bengaluru

Sales Department

1.0

• posted on 12 May 2022

5.0

for Salary and Benefits

Likes

Salary before month end Brand Reputation

Salary - Excellent

+1 more

Dislikes

No personal life satisfaction Terrible AM behavior No felicitation No recognition Poor plans and costly Pressure will come like he'll If channel partners not supported even though we've to do business.. Less customer service at channel partner

Skill development - Poor

+2 more

Business Development Manager

Karur Department

4.0

• posted on 14 Feb 2020

4.0

for Salary and Benefits

Likes

The SBI life insurance co Ltd . Developed employees career &life style I'm worked SBI life manappari branch .

Salary - Good

+4 more

Dislikes

My branch manager don't support to me & my office friends every day pressure & loss pay working time morning 7to evening 9

Work satisfaction - Poor

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New Job, Higher Pay, Now I’m Feeling Awkward

I’ve been at my new job for about six months now, and everything’s been going great! I’m getting positive feedback from my manager, and I get along well with the team. The thing is, when I started, my salary offer ended up being much higher than the initial number discussed during my interview. I didn’t negotiate and just accepted the offer. So, fast forward to happy hour with the team, and the topic of salary comes up. I, unfortunately, shared what I’m making, and let’s just say... it didn’t sit well with the others who have been on the team for years and make less than me. They weren’t mad at me, but now I’m feeling a bit uncomfortable and unsure how to handle this situation. Has anyone had something like this happen? How did you deal with it? Let’s chat!

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SBI Life Insurance Company Manager M1 Salary FAQs

What is the notice period for Manager M1 at SBI Life Insurance Company in Mumbai?

According to AmbitionBox, 100% of the SBI Life Insurance Company Manager M1s in Mumbai reported a notice period of 3 Months.This is based on 4 responses on AmbitionBox in last 2 years.

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SBI Life Insurance Company Manager M1 Salaries in Mumbai

SBI Life Insurance Company Manager M1 salary in Mumbai ranges between ₹8.6 Lakhs to ₹11.6 Lakhs with an average annual salary of ₹. Salary estimates are based on 3 SBI Life Insurance Company latest salaries received from various employees of SBI Life Insurance Company.