India has over 300 banks that employ over 10 million Indians. Salaries of employees in most banks have remained a secret, but we have done our best to come up with detailed information of how much employees in Indian banks earn.
The information is useful to professionals who wish to cross over to banking sector in search of greener pastures, as well as graduates who intend to work in the banking sector.
India bankers, especially managers are a respected lot but salaries for junior employees normally tend to be lower than workers’ skills. This is mostly contributed by the huge number of jobless graduates who desperately apply for jobs in such banks, making it possible for employers to adjust salaries downwards.
State bank of India, which has several branches across the country, is the best paying bank in the republic of India.
Statistics show that the bank pays bank managers an average of INR 500,000 while middle level managers and experienced employees take home not less than INR 100,000.
The lowest employees at the bank earn in excess of INR 30,000
Most banks in India pay cashiers INR 20,000-INR 100,000.The best paying banks being:
- State Bank of India
- Bank of India
- IDBI Bank
- Punjab National Bank
- Allahabad Bank
- ICICI Bank
- HDFC Bank
- Yes Bank
- Axis Bank
- IndusInd Bank
Even as the above listed banks pay handsomely, there are still several banks that pay peanuts. Such banks can pay as little as INR 10,000 and expect workers to dedicate all their energy in serving the institutions.
Below are full details of how banks in India pay their employees
1.State Bank of India:
Branch Manager Rs 2 lakh – Rs 10 lakh
2.Union Bank of India:
Branch Manager Rs 4 lakh – Rs 12 lakh
United Bank of India:
Officer Rs 2 lakh – Rs 9 lakh
Branch Manager Rs 2.5 lakh – Rs 9 lakh
Assistant Branch Manager Rs 2 lakh – Rs 6 lakh
Bank of India:
Manager Rs 3 lakh – Rs 10 lakh
Project Manager Rs 9 lakh – Rs 25 lakh
Cashier Rs 1.5 lakh – Rs 4 lakh
Finance Executive Rs 2.5 lakh – Rs 6 lakh
IDBI Bank:
Branch Manager Rs 3.5 lakh – Rs 11.5 lakh
Assistant Branch Manager Rs 2.5 lakh – Rs 8 lakh
Credit Analyst Rs 3.5 lakh – Rs 12 lakh
Assistant General Manager Rs 4 lakh – Rs 17 lakh
Punjab National Bank:
Manager Rs 6 lakh – Rs 10 lakh
Senior Manager Rs 7 lakh – Rs 12 lakh
Officer Rs 2.5 lakh – Rs 5 lakh
Management Trainee Rs 4.5 lakh – Rs 5.5 lakh
Allahabad Bank:
Officer Rs 2.5 lakh – Rs 3.5 lakh
Manager Rs 7 lakh – Rs 8 lakh
Marketing Officer Rs 3 lakh – Rs 4 lakh
Salaries of popular Private Sector Banks in India:
ICICI Bank:
Assistant Branch Manager Rs 2.5 lakh – Rs 5.5 lakh
Branch Manager Rs 3.5 lakh – Rs 12 lakh
Credit Analyst Rs 2.5 lakh – Rs 13 lakh
Client Relationship Manager Rs 2 lakh – Rs 9 lakh
Customer Service Manager Rs 2 lakh – Rs 9 lakh
HDFC Bank:
Bank Manager Rs 3.5 lakh – Rs 15 lakh
Assistant Branch Manager Rs 3 lakh – Rs 8 lakh
Relationship Manager Rs 4 lakh – Rs 14 lakh
Sales Executive Rs 1 lakh – Rs 4 lakh
Personal Banker Rs 2 lakh – Rs 5 lakh
Yes Bank:
Branch Manager Rs 5 lakh – Rs 12.5 lakh
Assistant Branch Manager Rs 3 lakh – Rs 5 lakh
Relationship Manager Rs 8.5 lakh – Rs 9 lakh
Vice President Rs 24 lakh – Rs 27 lakh
Axis Bank:
Branch Manager Rs 24 lakh – Rs 27 lakh
Assistant Branch Manager Rs 3 lakh – Rs 5 lakh
Project Advisory Rs 10 lakh – Rs 12 lakh
Assistant Vice President Rs 24 lakh – Rs 26.5 lakh
Management Trainee Rs 2.5 lakh – Rs 3.5 lakh
IndusInd Bank:
Branch Manager Rs 7.5 lakh – Rs 12.5 lakh
Relationship Manager Rs 2 lakh – Rs 9.5 lakh
Assistant Sales Manager Rs 2.5 lakh – Rs 3.5 lakh
Credit Manager Rs 5 lakh – Rs 6.5 lakh
Applications Support Rs 6 lakh – Rs 7 lakh