SBI Life Insurance Company Sales Development Manager Salaries by 10+ Employees

0 - 8 years exp.

₹2.5 Lakhs - ₹4 Lakhs

Avg. annual salary

Monthly In-hand Salary

36% less than the average Sales Development Manager Salary in Insurance Companies for 0 - 8 years of experience

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Salaries in different departments

BFSI, Investments & Trading Sales Development Manager Salary 2 - 5 years exp. (3 salaries)	₹2.5 L/yr - ₹3.5 L/yr
Finance & Accounting Sales Development Manager Salary 4 - 6 years exp. (AmbitionBox Estimate)	₹2.5 L/yr - ₹3.5 L/yr
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Sales & Business Development Sales Development Manager Salary 7 - 8 years exp. (AmbitionBox Estimate)	₹3.4 L/yr - ₹4 L/yr

Last Updated: 18 Jun 2024

Companies similar to SBI Life Insurance Company for Sales Development Manager

Company name	Avg Annual Salary	Open Jobs
HDFC Life Sales Development Manager Salary 0 - 8 years exp. (909 salaries)	₹1.5 L/yr - ₹4.6 L/yr 8% more	10 job openings
Shriram Life Insurance Sales Development Manager Salary 1 - 3 years exp. (7 salaries)	₹1.8 L/yr - ₹2.4 L/yr 31% less
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Tata AIA Life Insurance Sales Development Manager Salary 2 - 5 years exp. (5 salaries)	₹2.5 L/yr - ₹4.8 L/yr 20% more
ICICI Prudential Life Insurance Sales Development Manager Salary 4 - 8 years exp. (4 salaries)	₹2.6 L/yr - ₹5.2 L/yr 31% more
Axis Max Life Insurance Sales Development Manager Salary 3 - 5 years exp. (4 salaries)	₹1.8 L/yr - ₹3 L/yr 11% less
Bajaj Allianz Life Insurance Sales Development Manager Salary 3 - 9 years exp. (4 salaries)	₹1.8 L/yr - ₹8.5 L/yr 60% more
HDFC Ergo General Insurance Sales Development Manager Salary 3 - 5 years exp. (4 salaries)	₹2.2 L/yr - ₹2.7 L/yr 15% less
Reliance Nippon Life Insurance Sales Development Manager Salary 0 - 3 years exp. (3 salaries)	₹2.6 L/yr - ₹3 L/yr 5% less
ICICI Lombard General Insurance Company Sales Development Manager Salary 2 - 14 years exp. (3 salaries)	₹3.3 L/yr - ₹6 L/yr 47% more
Kotak Mahindara Life Insurance Sales Development Manager Salary 0 - 4 years exp. (3 salaries)	₹3.6 L/yr - ₹6.5 L/yr 50% more

Sales Development Manager salary at SBI Life Insurance Company ranges between ₹2.5 Lakhs to ₹4 Lakhs per year for employees with less than 1 year of experience to 8 years. Salary estimates are based on 15 latest salaries received from various employees of SBI Life Insurance Company.

Experience wise SBI Life Insurance Company Sales Development Manager salaries

Last Updated: 18 Jun 2024

Experience	Avg Annual Salary
Fresher (AmbitionBox Estimate)	₹3 L/yr - ₹5.5 L/yr
1 year (AmbitionBox Estimate)	₹2.5 L/yr - ₹3.5 L/yr
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2 years (AmbitionBox Estimate)	₹2.5 L/yr - ₹5.5 L/yr
3 years (AmbitionBox Estimate)	₹1.2 L/yr - ₹3.5 L/yr
4 years (AmbitionBox Estimate)	₹2.5 L/yr - ₹3.5 L/yr
5 years (3 salaries)	₹2.5 L/yr - ₹3.5 L/yr
6 years (AmbitionBox Estimate)	₹1.2 L/yr - ₹3.5 L/yr
7 years (AmbitionBox Estimate)	₹1.2 L/yr - ₹4 L/yr
8 years (AmbitionBox Estimate)	₹1.2 L/yr - ₹4 L/yr

View all

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Salary related reviews for SBI Life Insurance Company

4.2

Rated by 6 employees for salary & benefits

Agency Manager in Hyderabad / Secunderabad

Full Time

Sales & Business Development Department

1.0

• posted on 27 Jun 2023

1.0

for Salary and Benefits

Likes

Good organisation for learning Training provide by that organisation is very good Customer service is nice Chain of branch is very good..

Skill development - Good

Dislikes

...ale without competition Senior manager always gives pressure to unit manager.. They earn 6 digit salary and lower staff salary is only 20k... promote product Boucher to investment own money...mea If you join that organisation get ready for so much pressure with low salary

Salary - Bad

+5 more

Agency Manager in Dharamshala

Human Resources Department

5.0

• posted on 25 May 2022

5.0

for Salary and Benefits

Likes

Job security depends on your working If u are doing well on all parameters your job is secured company is employees oriented salary hike is only on your promotion

Salary - Excellent

+6 more

Dislikes

Management is good salary hike is depend on your promotion that is the major problem in this company career growth is depends upon your promotion. And training is given by the company on all parameters

Senior Agency Manager in KATIHAR , Bihar

BFSI, Investments & Trading Department

5.0

• posted on 06 Aug 2020

5.0

for Salary and Benefits

Likes

Digital platform for field sales force and preventive step to stop bogus insurance. Always supportive guidance by Higher management/official .

Salary - Excellent

+6 more

Dislikes

Salary increments system is not satisfactory. A FLSM who fulfill NBP criteria but miss his/her promotion due to nominal margin of Persistancy they are not eligible to get beneficial of Salary increments .

Agency Manager in Bilaspur

Sales & Business Development Department

5.0

• posted on 02 Apr 2020

2.0

for Salary and Benefits

Likes

SBI life Insurance is a very good company regarding salary growth working environment learning but politics is overwhelming in this company your long time survival depends allways on the bosses will' that should be taken care by the company. what is review? it's is kind of where you are lacking and where should improve but Review means here do or die. perform or perish.in this way sbi is loosing Good hardworking and skillful workers.

Work-life balance - Good

Dislikes

everything is ok in sbi there is to much of review

Salary - Poor

+2 more

Branch Manager in Kumta

BFSI, Investments & Trading Department

3.0

• posted on 18 Jun 2020

3.0

for Salary and Benefits

Likes

Salary hike 3 to 5 % per year.Providing petrol exp and telephone exp based on cader.

Dislikes

Lot of politics, no HR Control , career growth is slow, induction training will not conducted in proper time. No value and respect for out Commer. High volume pressure on target and mental irritation. No any value addition from reporting manager.

Job security - Bad

+4 more

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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?

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SBI Life Insurance Company Sales Development Manager Salary FAQs

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

The average salary of a Sales Development Manager at SBI Life Insurance Company in India typically ranges from ₹2.5 Lakhs to ₹4.0 Lakhs per year, depending on experience (from Fresher to 8 years).

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

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

The estimated take-home salary of a Sales Development Manager at SBI Life Insurance Company in India typically ranges from ₹21,598 to ₹23,088 per month. This is based on the average salary range of ₹2.5 Lakhs to ₹4.0 Lakhs per year for employees with experience ranging from Fresher to 8 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 10+ 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 Sales Development Manager in India?

Bajaj Allianz Life Insurance	₹1.8 Lakhs to ₹8.5 Lakhs per year
Kotak Mahindara Life Insurance	₹3.6 Lakhs to ₹6.5 Lakhs per year
ICICI Lombard General Insurance Company	₹3.3 Lakhs to ₹6.0 Lakhs per year
ICICI Prudential Life Insurance	₹2.6 Lakhs to ₹5.2 Lakhs per year
Tata AIA Life Insurance	₹2.5 Lakhs to ₹4.8 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 Sales Development Manager in companies similar to SBI Life Insurance Company in India?

The salary of a Sales 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:

HDFC Life	₹1.5 Lakhs to ₹4.6 Lakhs per year
Reliance Nippon Life Insurance	₹2.6 Lakhs to ₹3.0 Lakhs per year
Axis Max Life Insurance	₹1.8 Lakhs to ₹3.0 Lakhs per year
HDFC Ergo General Insurance	₹2.2 Lakhs to ₹2.7 Lakhs per year
Shriram Life Insurance	₹1.8 Lakhs to ₹2.4 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 Sales Development Manager at SBI Life Insurance Company in India?

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

Experience	Average Salary Range
Fresher	₹3.0 Lakhs to ₹5.5 Lakhs per year
1 year	₹2.5 Lakhs to ₹3.5 Lakhs per year
2 years	₹2.5 Lakhs to ₹5.5 Lakhs per year
3 years	₹1.2 Lakhs to ₹3.5 Lakhs per year

and so on.

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SBI Life Insurance Company Sales Development Manager Salaries

SBI Life Insurance Company Sales Development Manager salary in India ranges between ₹2.5 Lakhs to ₹4 Lakhs with an average annual salary of ₹. Salary estimates are based on 15 SBI Life Insurance Company latest salaries received from various employees of SBI Life Insurance Company.