State Bank of India Mumbai Manager Salaries by 90+ Employees (Updated 2025)

6 - 15 years exp.

₹9.5 Lakhs - ₹40 Lakhs

Avg. annual salary

Monthly In-hand Salary

43% more than the average Manager Salary in Banking Companies for 6 - 15 years of experience

Interested in this particular role?

Salaries in different departments

BFSI, Investments & Trading Manager Salary 6 - 15 years exp. (38 salaries)	₹9.9 L/yr - ₹40 L/yr
Finance & Accounting Manager Salary 7 - 15 years exp. (7 salaries)	₹10.4 L/yr - ₹30 L/yr
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Risk Management & Compliance Manager Salary 7 - 11 years exp. (6 salaries)	₹12 L/yr - ₹31.5 L/yr
Data Science & Analytics Manager Salary 8 - 12 years exp. (5 salaries)	₹18 L/yr - ₹25 L/yr
Customer Success, Service & Operations Manager Salary 8 - 13 years exp. (AmbitionBox Estimate)	₹19 L/yr - ₹24.9 L/yr

View all

Last Updated: 24 Mar 2025

Companies similar to State Bank of India for Manager in Mumbai

State Bank of India Manager Salary

6 - 15 years exp. (93 salaries)

₹9.5 L/yr - ₹40 L/yr

Company name	Avg Annual Salary	Open Jobs
HDFC Bank Manager Salary 0 - 18 years exp. (3.3k salaries)	₹4 L/yr - ₹17.5 L/yr 58% less
Kotak Mahindra Bank Manager Salary 0 - 16 years exp. (1.9k salaries)	₹4 L/yr - ₹13 L/yr 66% less
Login to view exact salary
Axis Bank Manager Salary 0 - 18 years exp. (1.7k salaries)	₹5.5 L/yr - ₹18 L/yr 56% less
ICICI Bank Manager Salary 0 - 18 years exp. (1.6k salaries)	₹6 L/yr - ₹22.4 L/yr 46% less
Yes Bank Manager Salary 0 - 17 years exp. (889 salaries)	₹4.3 L/yr - ₹15 L/yr 62% less
IndusInd Bank Manager Salary 0 - 17 years exp. (629 salaries)	₹3.4 L/yr - ₹12.2 L/yr 67% less	3 job openings
IDFC FIRST Bank Manager Salary 1 - 14 years exp. (486 salaries)	₹3.7 L/yr - ₹12.7 L/yr 63% less
IDBI Bank Manager Salary 6 - 17 years exp. (182 salaries)	₹9.1 L/yr - ₹29 L/yr 18% less
Standard Chartered Manager Salary 2 - 19 years exp. (138 salaries)	₹7 L/yr - ₹27 L/yr 36% less
Bank of America Manager Salary 5 - 17 years exp. (120 salaries)	₹11.7 L/yr - ₹37 L/yr 14% more	3 job openings

View all

Manager salary at State Bank of India ranges between ₹9.5 Lakhs to ₹40 Lakhs per year for employees with experience between 6 years to 15 years. Salary estimates are based on 93 latest salaries received from various employees of State Bank of India.

Latest annual salaries shared by State Bank of India Manager in Mumbai

1w ago

₹30 Lakhs

13 years exp.

3w ago

₹19.5 Lakhs

8 years exp.

1mo ago

₹25 Lakhs

10 years exp.

1mo ago

₹36 Lakhs

9 years exp.

3mo ago

₹30 Lakhs

11 years exp.

3mo ago

7 years exp.

3mo ago

8 years exp.

3mo ago

8 years exp.

5mo ago

15 years exp.

5mo ago

12 years exp.

Experience wise State Bank of India Manager salaries in Mumbai

Last Updated: 24 Mar 2025

Experience	Avg Annual Salary
6 years (7 salaries)	₹8.8 L/yr - ₹25 L/yr
7 years (3 salaries)	₹18 L/yr - ₹31.5 L/yr
Login to view exact salary
8 years (24 salaries)	₹11 L/yr - ₹27 L/yr
9 years (11 salaries)	₹9.5 L/yr - ₹40 L/yr
10 years (15 salaries)	₹11.1 L/yr - ₹30 L/yr
11 years (7 salaries)	₹12 L/yr - ₹30 L/yr
12 years (10 salaries)	₹15 L/yr - ₹35 L/yr
13 years (9 salaries)	₹12.1 L/yr - ₹30 L/yr
14 years (4 salaries)	₹10.1 L/yr - ₹30 L/yr
15+ years (3 salaries)	₹25 L/yr - ₹39 L/yr

View all

From

Manager

₹

Lakhs/yr

6 - 16 years exp.

Regional Manager

₹

Lakhs/yr

12 - 26 years exp.

Manager

6 - 16 years exp.

Chief Manager

11 - 22 years exp.

42% hike

Assistant General Manager

16 - 32 years exp.

-1% hike

From

View 4 more levels

Manager

6 - 16 years exp.

General Manager, Audit

Salary unavailable

From

View 3 more levels

Manager

6 - 16 years exp.

New Business Manager

Salary unavailable

Disclaimer: Our data limits the visualization of this career path at this point. However, other roles and opportunities might be available within the organization beyond what is shown here.

Similar Designation salaries in State Bank of India

Deputy Manager Salary

(96 salaries)

₹7.16 L/yr - ₹28 L/yr

Credit Manager Salary

(6 salaries)

₹12 L/yr - ₹27 L/yr

Financial Analyst Salary

(3 salaries)

₹10 L/yr - ₹21 L/yr

Top skills at State Bank of India for Manager

Product Management Marketing Strategy Business Strategy Product Development Banking

Salary related reviews for State Bank of India

3.4

Rated by 16 employees for salary & benefits

Manager in Chennai

Full Time

BFSI, Investments & Trading Department

1.0

• posted on 22 Nov 2023

2.0

for Salary and Benefits

Likes

Nothing. Just brand value.

Dislikes

Terrible work culture. No leaves. Too much work stress and pressure. Salary and perks are not upto the level of work we do. No time for family friends or functions. High targets and threatening. Frequent transfers.

Salary - Poor

+6 more

Manager in Dharmapuri

Full Time

BFSI, Investments & Trading Department

1.0

• posted on 13 Sep 2023

2.0

for Salary and Benefits

Likes

Please DONT COME TO STATE BANK. AS MANAGEMENT DOESNT UNDERSTAND THE IMPORTANCE OF WORK LIFE BALANCE. THEY WILL SPEAK BUT THEY WILL NOT IMPLEMENT IT. THEY LURE YOU WITH MONEY AT LOW LEVEL. BANKING SECTOR IS TIGHTLY Controlled BY GOVT. Better go to corr jobs.

Job security - Good

Dislikes

...ce Management doesn't understand the rationalization of jobs. Multi work role. For salary joined and job is very bad.

Salary - Poor

+4 more

Manager in Bhubaneswar

BFSI, Investments & Trading Department

4.0

• posted on 05 Mar 2019

2.0

for Salary and Benefits

Likes

Since a PSU , seniors are not much of a guiding star. One have to explore a tricky way to top avoiding ego classes. Only two things are privileged . Posting and Promotion. Not to worry about survival. Anybody can.

Skill development - Excellent

+3 more

Dislikes

Work life balance and salary both are not befitting.

Salary - Poor

+1 more

Deputy Manager in Chennai

Full Time

Finance & Accounting Department

4.0

• posted on 20 Mar 2025

4.0

for Salary and Benefits

Likes

...ly banker to every Indian. One gain experience in handling all kind of customer. Good Salary package compared to any other banking and financial institutions. Respect and status is incomparable. Tough but worth for career oriented candidates.

Salary - Good

+4 more

Dislikes

Challenges before a women employee and men is not the same in our society. Not every family support working women. To spread their wings and fulfill their dreams they faces many many hurdles. We cannot have rigid and common transfer policy for everyone. I have seen many women employee resigning due to this reason including me. Having work life balance is difficult for officer particularly.

Work-life balance - Bad

Deputy Manager in Bokaro

Full Time

Finance & Accounting Department

1.0

• posted on 19 Jan 2025

1.0

for Salary and Benefits

Likes

Fixed salary

Job security - Excellent

Dislikes

Horrible work culture. Too much internal politics. People who don't work re appraised well and people who work hard are appraised badly, and have to bear lots of criticism. Seniors don't have any idea about the reality of ground level and force unethical practices for personal gains. People who oppose this are publically humiliated and instructed to resign. Seniors have no working knowledge of how the softwares work, and if some do do, then they refused to share their knowledge with others. It is the worst workplace I have ever worked in. I would not wish this kind of working environment to my worst enemy.

Salary - Bad

+5 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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State Bank of India Manager Salary FAQs

What is the salary of Manager at State Bank of India in Mumbai?

The average salary of a Manager at State Bank of India in Mumbai typically ranges from ₹9.5 Lakhs to ₹40.0 Lakhs per year, depending on experience (from 6 years to 15 years).

The top 10% of Manager in Mumbai at State Bank of India earn more than ₹30.0 Lakhs per year, and the top 1% earn over ₹39.6 Lakhs per year. Manager Salaries at State Bank of India 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 90+ State Bank of India employees in India.

What is the estimated take home salary of a Manager at State Bank of India in Mumbai?

The estimated take-home salary of a Manager at State Bank of India in Mumbai typically ranges from ₹1,51,298 to ₹1,57,003 per month. This is based on the average salary range of ₹9.5 Lakhs to ₹40.0 Lakhs per year for employees with experience ranging from 6 years to 15 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 90+ salaries received from various employees of State Bank of India. Check how we calculate in-hand salary with our in-hand salary calculator.

What are the key skills required to be a Manager at State Bank of India in Mumbai?

To be a Manager at State Bank of India in Mumbai, the key skills required include:

- Product Management
- Marketing Strategy
- Business Strategy
- Product Development
- Banking

These skills are highly valued at State Bank of India and are crucial for successful performance in a Software Engineering role.

Which companies offer higher salaries than State Bank of India for Manager in India?

Reserve Bank of India	₹18.0 Lakhs to ₹46.0 Lakhs per year
Bank of America	₹11.7 Lakhs to ₹37.0 Lakhs per year

These companies are known for offering competitive compensation packages that can exceed the salary offered by State Bank of India, depending on the role and experience level.

What is the salary of a Manager in companies similar to State Bank of India in Mumbai?

The salary of a Manager at companies similar to State Bank of India in Mumbai varies, depending on the role, experience, and company size. Here are the typical salary ranges:

The World Bank	₹17.7 Lakhs to ₹24.0 Lakhs per year
IDBI Bank	₹9.1 Lakhs to ₹29.0 Lakhs per year
Bank of Baroda	₹9.0 Lakhs to ₹25.0 Lakhs per year
Canara Bank	₹8.5 Lakhs to ₹25.0 Lakhs per year
Barclays	₹11.5 Lakhs to ₹21.0 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 Manager at State Bank of India in Mumbai?

The salary growth for a Manager at State Bank of India in Mumbai depends on factors such as experience, performance, and promotions. On average, a Manager in Mumbai can expect the following growth trajectory at State Bank of India:

Experience	Average Salary Range
6 years	₹8.8 Lakhs to ₹25.0 Lakhs per year
7 years	₹18.0 Lakhs to ₹31.5 Lakhs per year
8 years	₹11.0 Lakhs to ₹27.0 Lakhs per year
9 years	₹9.5 Lakhs to ₹40.0 Lakhs per year

and so on.

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State Bank of India Manager Salaries in Mumbai

State Bank of India Manager salary in Mumbai ranges between ₹9.5 Lakhs to ₹40 Lakhs with an average annual salary of ₹. Salary estimates are based on 93 State Bank of India latest salaries received from various employees of State Bank of India.

State Bank of India Manager salaries in Mumbai (Updated 2025)

Companies similar to State Bank of India for Manager in Mumbai

Latest annual salaries shared by State Bank of India Manager in Mumbai

Experience wise State Bank of India Manager salaries in Mumbai

Similar Designation salaries in State Bank of India

Top skills at State Bank of India for Manager

Salary related reviews for State Bank of India

Manager in Chennai

Manager in Dharmapuri

Manager in Bhubaneswar

Deputy Manager in Chennai

Deputy Manager in Bokaro

State Bank of India Manager Salary FAQs

Tell us how to improve this page.