SBI Mutual Fund Senior Manager salaries in Mumbai (Updated 2025)

Likes

The work culture is good,but the salary increament and promotion opportunity is very bad, although the work pressure is also less as compared to the privet sector,and in most cases you don't have to directly sale product to the client,as the bank officials do the work.

Dislikes

Growth opportunities Salary increament Learning

Likes

SBI brand is good. Management communication is one way. Salary growth is pathetic. It's a good company for people who join after 10 year exp and with min 20 lakh salary .. they can continue to work for longer time. Not good for new or less exp people because despite of over achieving targets they will give 7-9 % hike. In promotion year too they will give 9% hike .. Very bad salary growth.. frustrating for people with 5 -10 year exp... that's why lot of people switch in this segment...

Dislikes

Bad salary... they can at least make salary on par with market for loyal employees..

Likes

Working in SBIMF gives you feeling of proud and brand recognition. Job security and mental peace.

Dislikes

Appraisal, employee recognition, Salary, respect as an old loyal employee not there. People recruits new freshers with higher package than there old loyal employee which demotivates more and hurts as well.

Likes

Only thing I liked was management is not harsh if you login bit late due to traffic or personal reason. Other than this it's a big noooo. I found many good colleagues here I am happy with that atleast.

Dislikes

Onroll offroll differentiation is huge Dissatisfied with offroll management No decent hike or salary Takes long time for career growth

Likes

• The best thing of this company is job security. Even though they always put you into huge workload but won't fire you in case of under performance. Infact the management always gives time extension to fill the gaps. • With the name of SBI, the product placement is also very easy on all available counters in the market. SBI channel RMs gets a ton of respect on visiting the mapped SBI branches which psychology makes you feel valuable and motivates you to put more effort in to improve your KPIs. Even the Scale-4 Chief manager treates you like his younger brother which is the best thing one can expect in his workspace. • No Sales target for Operations staff. Some AMCs put sales target for opertions staff which hampers the operations related support to sales team. This condition is not here. Operations staff has its own KRA and Sales team has its own, which balances the overall functioning of whole branch. Implementing sales target to operations staff leads to work imbalance, that is what I believe. • Good working infrastructure. • Thinks innovative and always approaches to new technological advancements to improve work efficiency.

Dislikes

• Carrear growth is the slowest. • Increments and salary they offers is the lowest among all peer AMCs (Top 5). Even after being the no. 1 AMC in total AUM List. • Discrimination and favourism done on the basis of Caste, religion, State in which you are working. • Special treatment for those who are direct or indirect relatives of the people of the top management, regardless their qualification. • Always prefers the cost efficient solution in terms of office premises, stationary quality, staff procurement, hiring trainers etc.. rather than going with the quality option. • Employee reward and recognition program is almost zero. • Knowledge part is below average in this AMC except the monday morning call. You have to help yourself for your knowledge and general awareness part here. • Super managers are cold blooded people. They never recognises the blood and sweat you are pouring to fulfill your duties. In support of that, I want to share my story: I was working as RM at certain place where no branch manager was deployed. So in the absence of branch head I took care of whole branch. During my tenure there, my Grandmother got passed away and it would be my first priority to be the part of her funeral and all rituals. But just after 2 days of that horrible incident I resumed my duties at my base station. Why? Because I knew that the branch is functioning on single man and leaving the station for longer period will result in hampering of overall functioning of the branch. That's the reason I resumed my duties on first priority and the cost of that, I missed my Grandmother's Final Prayer Ceremony. I put my best efforts upto that extent but management never recognised that. Infact, they were behaving in the complaining and taunting mode till the very last day of mine there.