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SBI Life Insurance Company

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3.8

based on 3.9k Reviews

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SBI Life Insurance Company Senior Business Development Manager salaries in Mumbai (Updated 2025)

Annual salary range
5 - 12 years exp.
₹3.8 Lakhs - ₹8.5 Lakhs
Avg. annual salary
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Monthly In-hand Salary

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42% less than the average Senior Business Development Manager Salary in Insurance Companies for 5 - 12 years of experience

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Salaries in different departments

Sales & Business Development
Senior Business Development Manager Salary
5 - 12 years exp. (7 salaries)
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₹4 L/yr - ₹8.5 L/yr

BFSI, Investments & Trading
Senior Business Development Manager Salary
7 - 9 years exp. (5 salaries)
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₹4.5 L/yr - ₹7.4 L/yr

Customer Success, Service & Operations
Senior Business Development Manager Salary
5 - 11 years exp. (5 salaries)
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₹4.7 L/yr - ₹7 L/yr

Marketing & Communication
Senior Business Development Manager Salary
7 - 10 years exp. (AmbitionBox Estimate)
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₹4.7 L/yr - ₹6.7 L/yr

Finance & Accounting
Senior Business Development Manager Salary
6 years exp. (AmbitionBox Estimate)
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₹3.8 L/yr - ₹6.5 L/yr

Last Updated: 12 Jan 2025

Companies similar to SBI Life Insurance Company for Senior Business Development Manager in Mumbai

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SBI Life Insurance Company Senior Business Development Manager Salary

5 - 12 years exp. (23 salaries)
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₹3.8 L/yr - ₹8.5 L/yr

vs
Company name Avg Annual Salary Open Jobs
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SBI General Insurance Senior Business Development Manager Salary

3 - 11 years exp. (35 salaries)
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₹4.3 L/yr - ₹6.6 L/yr

arrow icon 4% less
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Bajaj Allianz Life Insurance Senior Business Development Manager Salary

0 - 7 years exp. (12 salaries)
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₹4 L/yr - ₹6 L/yr

arrow icon 24% less
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ICICI Lombard General Insurance Company Senior Business Development Manager Salary

5 - 13 years exp. (4 salaries)
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₹7 L/yr - ₹12.9 L/yr

arrow icon 55% more
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IndusInd Bank Senior Business Development Manager Salary

0 - 8 years exp. (30 salaries)
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₹4 L/yr - ₹5 L/yr

arrow icon 29% less
 173 job openings
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MakeMyTrip Senior Business Development Manager Salary

0 - 6 years exp. (19 salaries)
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₹6 L/yr - ₹10 L/yr

arrow icon 32% more
Senior Business Development Manager salary at SBI Life Insurance Company ranges between ₹3.8 Lakhs to ₹8.5 Lakhs per year for employees with experience between 5 years to 12 years. Salary estimates are based on 23 latest salaries received from various employees of SBI Life Insurance Company.

Latest annual salaries shared by SBI Life Insurance Company Senior Business Development Manager in Mumbai

2mo ago
₹6.6 Lakhs
12 years exp.
5mo ago
₹4.7 Lakhs
7 years exp.
11mo ago
₹4.5 Lakhs
8 years exp.
1y ago
₹7 Lakhs
9 years exp.
1y ago
₹7 Lakhs
11 years exp.
1y ago
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10 years exp.
1y ago
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6 years exp.
1y ago
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11 years exp.
1y ago
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6 years exp.
1y ago
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10 years exp.

Experience wise SBI Life Insurance Company Senior Business Development Manager salaries in Mumbai

Last Updated: 12 Jan 2025

Experience Avg Annual Salary
5 years (AmbitionBox Estimate)

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₹4.9 L/yr - ₹6.2 L/yr
6 years  (4 salaries)

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₹3.8 L/yr - ₹6.2 L/yr
7 years  (3 salaries)

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₹4.7 L/yr - ₹10.4 L/yr
8 years  (3 salaries)

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₹4.5 L/yr - ₹7.4 L/yr
9 years  (3 salaries)

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₹4.6 L/yr - ₹7 L/yr
View all

Similar Designation salaries in SBI Life Insurance Company

Business Development Manager Salary
(61 salaries)
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₹3 L/yr - ₹7 L/yr
Senior Business Development Executive Salary
(40 salaries)
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₹3.35 L/yr - ₹5.35 L/yr

Salary related reviews for SBI Life Insurance Company

4.0

Rated by 2 employees for salary & benefits

Senior Business Development Manager in Katni

Full Time

 · 

BFSI, Investments & Trading Department

5.0
  •  posted on 20 Apr 2022
2.0
 for  Salary and Benefits

Likes

Best brand in insurance sector..well known..

  • Skill development - Good
    • +4 more

Dislikes

Salary is low as per targets given by company..incentives are good but company has to think for good salary as well.. Products is not up to the mark as per market competition.

read more
  • Salary - Poor

Senior Business Development Manager in Nagpur

Sales & Business Development Department

4.0
  •  posted on 27 Sep 2019
5.0
 for  Salary and Benefits

Likes

...where but for the same No abusing Words used by Higher authorities for Business. Compensation also good. Over All good company

read more
  • Salary - Excellent
    • +6 more

Dislikes

Company has holiday on every 2&3 Saturday.. But we need to go on Works on these Holiday also...

Business Development Manager in Deoghar

Full Time

 · 

Marketing & Communication Department

5.0
  •  posted on 30 Jan 2025
2.0
 for  Salary and Benefits

Likes

Very good policy, good Behaviour from all senior Management.

  • Skill development - Good
    • +3 more

Dislikes

I am working from last 8 year but my salary is very low. If someone working is in other companies and they switched from there to here they are getting good CTC. If you are working in good location and if your assign branch and branch manager is good so you can get promotion but if you not working in good location or your assign branch is not good it's very deficit to get promotion.

read more
  • Salary - Poor

Area Sales Manager in Vijayawada

Full Time

 · 

BFSI, Investments & Trading Department

5.0
  •  posted on 05 Aug 2023
5.0
 for  Salary and Benefits

Likes

I am so Proud to say Working this organisation last 4years. i got a two promotions last two years.

  • Salary - Excellent
    • +6 more

Dislikes

I expecting Long time Vintage Employes Expect Minimum Salary hike. because Now a days out side companies giving a more salary hikes Vintage persons so Our Company giving a minimum hikes of Vintage Employes it will so benefit and no one live Our Company.

read 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

read more
  • Job security - Poor
see more salary related reviews

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peacemaker
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New offer. Confused.
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 Senior Business Development Manager Salary FAQs

What is the salary of Senior Business Development Manager at SBI Life Insurance Company in Mumbai?
The average salary of a Senior Business Development Manager at SBI Life Insurance Company in Mumbai typically ranges from ₹3.8 Lakhs to ₹8.5 Lakhs per year, depending on experience (from 5 years to 12 years).

The top 10% of Senior Business Development Manager in Mumbai at SBI Life Insurance Company earn more than ₹7.7 Lakhs per year, and the top 1% earn over ₹8.5 Lakhs per year. Senior Business 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 20+ SBI Life Insurance Company employees in India.
What is the estimated take home salary of a Senior Business Development Manager at SBI Life Insurance Company in Mumbai?
The estimated take-home salary of a Senior Business Development Manager at SBI Life Insurance Company in Mumbai typically ranges from ₹46,777 to ₹47,885 per month. This is based on the average salary range of ₹3.8 Lakhs to ₹8.5 Lakhs per year for employees with experience ranging from 5 years 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 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 Senior Business Development Manager in India?
ICICI Lombard General Insurance Company ₹7.0 Lakhs to ₹12.9 Lakhs per year
MakeMyTrip ₹6.0 Lakhs to ₹10.0 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 Senior Business Development Manager in companies similar to SBI Life Insurance Company in Mumbai?
The salary of a Senior Business Development Manager 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:

SBI General Insurance ₹4.3 Lakhs to ₹6.6 Lakhs per year
Bajaj Allianz Life Insurance ₹4.0 Lakhs to ₹6.0 Lakhs per year
IndusInd Bank ₹4.0 Lakhs to ₹5.0 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 Senior Business Development Manager at SBI Life Insurance Company in Mumbai?
The salary growth for a Senior Business Development Manager at SBI Life Insurance Company in Mumbai depends on factors such as experience, performance, and promotions. On average, a Senior Business Development Manager in Mumbai can expect the following growth trajectory at SBI Life Insurance Company:

Experience Average Salary Range
5 years ₹4.9 Lakhs to ₹6.2 Lakhs per year
6 years ₹3.8 Lakhs to ₹6.2 Lakhs per year
7 years ₹4.7 Lakhs to ₹10.4 Lakhs per year
8 years ₹4.5 Lakhs to ₹7.4 Lakhs per year
and so on.

Tell us how to improve this page.

SBI Life Insurance Company Senior Business Development Manager salary in Mumbai ranges between ₹3.8 Lakhs to ₹8.5 Lakhs with an average annual salary of ₹unlock blur. Salary estimates are based on 23 SBI Life Insurance Company latest salaries received from various employees of SBI Life Insurance Company.