SBI Life Insurance Company Product Development Manager Salaries by 4 Employees

3 - 5 years exp.

₹2.5 Lakhs - ₹4.5 Lakhs

Low Confidence

Avg. annual salary

Monthly In-hand Salary

86% less than the average Product Development Manager Salary in Insurance Companies for 3 - 5 years of experience

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Last Updated: 10 Mar 2023

Companies similar to SBI Life Insurance Company for Product Development Manager

Company name	Avg Annual Salary	Open Jobs
Bajaj Allianz General Insurance Product Development Manager Salary 2 - 11 years exp. (5 salaries)	₹16 L/yr - ₹35 L/yr 629% more
HDFC Ergo General Insurance Product Development Manager Salary 2 - 5 years exp. (5 salaries)	₹10.5 L/yr - ₹12 L/yr 275% more
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Axis Max Life Insurance Product Development Manager Salary 5 - 6 years exp. (3 salaries)	₹3.5 L/yr - ₹14 L/yr 240% more
Bajaj Allianz Life Insurance Product Development Manager Salary 3 - 16 years exp. (3 salaries)	₹9 L/yr - ₹11.6 L/yr 230% more
PNB MetLife Product Development Manager Salary 6 - 9 years exp. (3 salaries)	₹11 L/yr - ₹14.8 L/yr 323% more

Product Development Manager salary at SBI Life Insurance Company ranges between ₹2.5 Lakhs to ₹4.5 Lakhs per year for employees with experience between 3 years to 5 years. Salary estimates are based on 4 latest salaries received from various employees of SBI Life Insurance Company.

Experience wise SBI Life Insurance Company Product Development Manager salaries

Last Updated: 10 Mar 2023

Experience	Avg Annual Salary
3 years (AmbitionBox Estimate)	₹2.5 L/yr - ₹5.3 L/yr
4 years (AmbitionBox Estimate)	₹2.9 L/yr - ₹4.5 L/yr
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5 years (AmbitionBox Estimate)	₹2.5 L/yr - ₹5.8 L/yr

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Salary related reviews for SBI Life Insurance Company

Sales Support Associate in Kishanganj

Full Time

BFSI, Investments & Trading Department

3.0

• posted on 17 Jan 2024

1.0

for Salary and Benefits

Likes

Even though the salary in this company is very less as per the work, the salary is paid on time.

Dislikes

In today's times, it is important to work to support my family properly, hence I give my 100% to this company so that someday my salary will increase but after working for more than 1 year, I am realizing that It is very difficult to move forward, here we have to work till late night due to which we are not able to give time to our family, and even after doing so much work, we get very low salary so that I cannot support my family properly. I don't know how to do it, even after working for more than 14 hours every day, I don't get any bonus also.

Salary - Bad

+4 more

Management Trainee in Kolkata

Full Time

Sales & Business Development Department

3.0

• posted on 02 Nov 2023

4.0

for Salary and Benefits

Likes

Salary and benefits are supportive.

Salary - Good

+1 more

Dislikes

No work life balance. The sales team pushes things like hell specially in the eastern region of the country. Third Saturday is a leave according to the company's leave policies but we don't get that leave.

Skill development - Poor

+4 more

Business Development Executive in Gangtok

Full Time

Marketing & Communication Department

4.0

• posted on 13 Sep 2023

5.0

for Salary and Benefits

Likes

very good company with good oppurtunities and good pay

Salary - Excellent

+4 more

Dislikes

management is not so good,specially our managers always threatning for resign and salary hold.company needs to fix this kind of problems for their employee to work with full motivation

Job security - Poor

BDM in Salem

Full Time

BFSI, Investments & Trading Department

1.0

• posted on 06 Nov 2023

1.0

for Salary and Benefits

Likes

...east HRs are doing basic work means many candidates carrier will not get spoil. My only suggestion for HRs in SBI life is please do the basic job for the salary what you are earning if not means don't purchase food or groceries for their family in that salary money

Dislikes

Manager , Management, HR in India Bank bancassurance channel if anyone joins in SBI life means carrier will lost. Please ask those who are currently working in SBI life too

Salary - Bad

+6 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

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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?

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SBI Life Insurance Company Product Development Manager Salary FAQs

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

The average salary of a Product Development Manager at SBI Life Insurance Company in India typically ranges from ₹2.5 Lakhs to ₹4.5 Lakhs per year, depending on experience (from 3 years to 5 years).

The top 10% of Product Development Manager at SBI Life Insurance Company earn more than ₹4.5 Lakhs per year, and the top 1% earn over ₹4.5 Lakhs per year. Product 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 4 SBI Life Insurance Company employees in India.

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

The estimated take-home salary of a Product Development Manager at SBI Life Insurance Company in India typically ranges from ₹22,211 to ₹23,691 per month. This is based on the average salary range of ₹2.5 Lakhs to ₹4.5 Lakhs per year for employees with experience ranging from 3 years to 5 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 4 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 Product Development Manager in India?

Bajaj Allianz General Insurance	₹16.0 Lakhs to ₹35.0 Lakhs per year
PNB MetLife	₹11.0 Lakhs to ₹14.8 Lakhs per year
HDFC Ergo General Insurance	₹10.5 Lakhs to ₹12.0 Lakhs per year
Axis Max Life Insurance	₹3.5 Lakhs to ₹14.0 Lakhs per year
Bajaj Allianz Life Insurance	₹9.0 Lakhs to ₹11.6 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.

How the salary growth look like for a Product Development Manager at SBI Life Insurance Company in India?

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

Experience	Average Salary Range
3 years	₹2.5 Lakhs to ₹5.3 Lakhs per year
4 years	₹2.9 Lakhs to ₹4.5 Lakhs per year
5 years	₹2.5 Lakhs to ₹5.8 Lakhs per year

and so on.

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SBI Life Insurance Company Product Development Manager Salaries

SBI Life Insurance Company Product Development Manager salary in India ranges between ₹2.5 Lakhs to ₹4.5 Lakhs with an average annual salary of ₹. Salary estimates are based on 4 SBI Life Insurance Company latest salaries received from various employees of SBI Life Insurance Company.

SBI Life Insurance Company Product Development Manager salaries in India

Companies similar to SBI Life Insurance Company for Product Development Manager

Latest annual salaries shared by SBI Life Insurance Company Product Development Manager

Experience wise SBI Life Insurance Company Product Development Manager salaries

Similar Designation salaries in SBI Life Insurance Company

Salary related reviews for SBI Life Insurance Company

Sales Support Associate in Kishanganj

Management Trainee in Kolkata

Business Development Executive in Gangtok

BDM in Salem

Senior Associate in New Delhi

SBI Life Insurance Company Product Development Manager Salary FAQs

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