SBI Life Insurance Company Mumbai Senior Manager Salaries by 10+ Employees (Updated 2025)

5 - 13 years exp.

₹4.8 Lakhs - ₹17 Lakhs

Avg. annual salary

Monthly In-hand Salary

45% less than the average Senior Manager Salary in Insurance Companies for 5 - 13 years of experience

Interested in this particular role?

Salaries in different departments

Marketing & Communication Senior Manager Salary 5 - 13 years exp. (4 salaries)	₹11.3 L/yr - ₹15 L/yr
BFSI, Investments & Trading Senior Manager Salary 10 years exp. (AmbitionBox Estimate)	₹8 L/yr - ₹14 L/yr
Login to view exact salary
Data Science & Analytics Senior Manager Salary 5 - 6 years exp. (AmbitionBox Estimate)	₹11.9 L/yr - ₹14.4 L/yr
Strategic & Top Management Senior Manager Salary 12 - 13 years exp. (AmbitionBox Estimate)	₹10.5 L/yr - ₹12.4 L/yr
Finance & Accounting Senior Manager Salary 9 years exp. (AmbitionBox Estimate)	₹12.1 L/yr - ₹17 L/yr

Last Updated: 2 Apr 2025

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

SBI Life Insurance Company Senior Manager Salary

5 - 13 years exp. (15 salaries)

₹4.8 L/yr - ₹17 L/yr

Company name	Avg Annual Salary	Open Jobs
ICICI Lombard General Insurance Company Senior Manager Salary 0 - 18 years exp. (520 salaries)	₹5 L/yr - ₹15.1 L/yr 17% less	4 job openings
HDFC Life Senior Manager Salary 2 - 20 years exp. (361 salaries)	₹7.2 L/yr - ₹26 L/yr 26% more	5 job openings
Login to view exact salary
ICICI Prudential Life Insurance Senior Manager Salary 0 - 9 years exp. (285 salaries)	₹10.7 L/yr - ₹29 L/yr 54% more
Kotak Mahindara Life Insurance Senior Manager Salary 0 - 14 years exp. (281 salaries)	₹4 L/yr - ₹14 L/yr 34% less	1 job opening
Tata AIA Life Insurance Senior Manager Salary 8 - 20 years exp. (169 salaries)	₹10.8 L/yr - ₹40 L/yr 114% more	3 job openings
Reliance Nippon Life Insurance Senior Manager Salary 0 - 17 years exp. (108 salaries)	₹5.3 L/yr - ₹16 L/yr 11% less
HDFC Ergo General Insurance Senior Manager Salary 5 - 19 years exp. (101 salaries)	₹7 L/yr - ₹22.6 L/yr 31% more
Aditya Birla Health Insurance Co Senior Manager Salary 3 - 14 years exp. (73 salaries)	₹6.9 L/yr - ₹18.4 L/yr 7% less
Aditya Birla Sun Life Insurance Senior Manager Salary 1 - 12 years exp. (44 salaries)	₹5.1 L/yr - ₹20.4 L/yr 4% more
SBI General Insurance Senior Manager Salary 5 - 16 years exp. (29 salaries)	₹6.5 L/yr - ₹23.3 L/yr 11% more
PNB MetLife Senior Manager Salary 8 - 16 years exp. (29 salaries)	₹10.7 L/yr - ₹23 L/yr 30% more	1 job opening
Login to view exact salary
Bajaj Allianz Life Insurance Senior Manager Salary 3 - 18 years exp. (27 salaries)	₹8.2 L/yr - ₹22.5 L/yr 28% more
Axis Max Life Insurance Senior Manager Salary 5 - 16 years exp. (20 salaries)	₹7.5 L/yr - ₹33.5 L/yr 57% more	2 job openings
Marsh Senior Manager Salary 3 - 15 years exp. (9 salaries)	₹11.9 L/yr - ₹25.8 L/yr 52% more
Gallagher Senior Manager Salary 10 - 21 years exp. (4 salaries)	₹16 L/yr - ₹20.7 L/yr 46% more
Star Health & Allied Insurance Senior Manager Salary 9 - 12 years exp. (4 salaries)	₹7.3 L/yr - ₹14 L/yr 24% less
Bajaj Allianz General Insurance Senior Manager Salary 12 - 15 years exp. (3 salaries)	₹6.8 L/yr - ₹18 L/yr 37% more	1 job opening

Senior Manager salary at SBI Life Insurance Company ranges between ₹4.8 Lakhs to ₹17 Lakhs per year for employees with experience between 5 years to 13 years. Salary estimates are based on 15 latest salaries received from various employees of SBI Life Insurance Company.

Experience wise SBI Life Insurance Company Senior Manager salaries in Mumbai

Last Updated: 2 Apr 2025

Experience	Avg Annual Salary
5 years (3 salaries)	₹4.6 L/yr - ₹14.4 L/yr
6 years (3 salaries)	₹4.7 L/yr - ₹15.4 L/yr
Login to view exact salary
7 years (AmbitionBox Estimate)	₹10.5 L/yr - ₹13.4 L/yr
8 years (AmbitionBox Estimate)	₹10.6 L/yr - ₹13.5 L/yr
9 years (AmbitionBox Estimate)	₹10.6 L/yr - ₹13.6 L/yr
10 years (3 salaries)	₹8 L/yr - ₹14 L/yr
11 years (AmbitionBox Estimate)	₹10.8 L/yr - ₹13.8 L/yr
12 years (AmbitionBox Estimate)	₹10.8 L/yr - ₹13.8 L/yr
13 years (3 salaries)	₹7 L/yr - ₹15 L/yr

View all

Similar Designation salaries in SBI Life Insurance Company

Area Manager Salary

(15 salaries)

₹7.5 L/yr - ₹14.21 L/yr

Branch Manager Salary

(8 salaries)

₹8 L/yr - ₹12.32 L/yr

Deputy Manager Salary

(7 salaries)

₹4.5 L/yr - ₹10 L/yr

Marketing Manager Salary

(5 salaries)

₹10.55 L/yr - ₹20 L/yr

Sales Manager Salary

(3 salaries)

₹3.18 L/yr - ₹5.6 L/yr

Salary related reviews for SBI Life Insurance Company

5.0

Rated by 1 employees for salary & benefits

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.

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.

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

Senior Business Development Executive in Ongole

Full Time

BFSI, Investments & Trading Department

2.0

• posted on 09 Jun 2023

2.0

for Salary and Benefits

Likes

No positive to tell company not good salary not good supporting staff.

Dislikes

Treating very cheap to front line employees(Field workers).and also no support to superior s.. always blamed for front line employees.

Salary - Poor

+4 more

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

see more salary related reviews

Discover interview dos and don'ts from real experiences

Top trending discussions

View All

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?

Got a question about SBI Life Insurance Company?

Ask anonymously on communities.

SBI Life Insurance Company Senior Manager Salary FAQs

What is the salary of Senior Manager at SBI Life Insurance Company in Mumbai?

The average salary of a Senior Manager at SBI Life Insurance Company in Mumbai typically ranges from ₹4.8 Lakhs to ₹17.0 Lakhs per year, depending on experience (from 5 years to 13 years).

The top 10% of Senior Manager in Mumbai at SBI Life Insurance Company earn more than ₹15.4 Lakhs per year, and the top 1% earn over ₹17.0 Lakhs per year. Senior 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 Senior Manager at SBI Life Insurance Company in Mumbai?

The estimated take-home salary of a Senior Manager at SBI Life Insurance Company in Mumbai typically ranges from ₹84,465 to ₹86,674 per month. This is based on the average salary range of ₹4.8 Lakhs to ₹17.0 Lakhs per year for employees with experience ranging from 5 years to 13 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 Senior Manager in India?

Tata AIA Life Insurance	₹10.8 Lakhs to ₹40.0 Lakhs per year
Axis Max Life Insurance	₹7.5 Lakhs to ₹33.5 Lakhs per year
ICICI Prudential Life Insurance	₹10.7 Lakhs to ₹29.0 Lakhs per year
Marsh	₹11.9 Lakhs to ₹25.8 Lakhs per year
Gallagher	₹16.0 Lakhs to ₹20.7 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 Manager in companies similar to SBI Life Insurance Company in Mumbai?

The salary of a Senior 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:

Bajaj Allianz General Insurance	₹6.8 Lakhs to ₹18.0 Lakhs per year
HDFC Ergo General Insurance	₹7.0 Lakhs to ₹22.6 Lakhs per year
PNB MetLife	₹10.7 Lakhs to ₹23.0 Lakhs per year
Bajaj Allianz Life Insurance	₹8.2 Lakhs to ₹22.5 Lakhs per year
HDFC Life	₹7.2 Lakhs to ₹26.0 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 Manager at SBI Life Insurance Company in Mumbai?

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

Experience	Average Salary Range
5 years	₹4.6 Lakhs to ₹14.4 Lakhs per year
6 years	₹4.7 Lakhs to ₹15.4 Lakhs per year
7 years	₹10.5 Lakhs to ₹13.4 Lakhs per year
8 years	₹10.6 Lakhs to ₹13.5 Lakhs per year

and so on.

Tell us how to improve this page.

Home >
Salaries >
SBI Life Insurance Company Salaries >
SBI Life Insurance Company Senior Manager Salaries >
SBI Life Insurance Company Senior Manager Salaries in Mumbai

SBI Life Insurance Company Senior Manager salary in Mumbai ranges between ₹4.8 Lakhs to ₹17 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.