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Salary of a Bank Manager 2024: Per Month, In India, Highest Salary, Average Salary

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Ahana Bhaduri

Content Writer | Updated 3+ months ago

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Bank Managers are qualified and skilled professionals who oversee the day-to-day operations of their branches as well as supervise the designated staff of the banks on their duties and responsibilities. The average salary of a Bank Manager in India is INR 7.59 LPA. Although the salary structure in public banks is fixed by the government, however various other factors such as qualifications, years of experience, location and skill sets determine the salary of a Bank Manager. Bank Managers are also entitled to several other benefits such as house rent allowance, dearness allowance and provident fund. To Become a Bank Manager, aspiring candidates must pursue undergraduate and postgraduate banking courses from any of the top banking colleges across the country. 

Average Salary of a Bank Manager

The average salary of a Bank Manager in India is INR 7.59 LPA. According to Glassdoor, the average monthly salary of a Bank Manager is INR 53,914. The salary of a Bank Manager with less than one year of experience is approximately INR 3.60 LPA. 

Some of the top recruiting companies for Bank Managers in India are SBI, HDFC Bank, IDBI Bank, Yes Bank and many more. The highest-paying bank in India is State Bank of India, which offers a salary package of INR 10.17 LPA. Punjab National Bank offers a package of INR 8.95 LPA. 

Read More: 

Role of a Bank Manager  How to Become a Bank Manager after 12th  Qualifications of a Bank Manager

Salary of a Bank Manager: Specialization Wise 

There are various departments that need efficient professionals to manage their daily activities. Candidates with specialised attributes are best suited for each department. Tabulated below is the salary of a Bank Manager on the basis of their specialization,

Specialization Average Annual Salary (INR)
Banking and Finance 6.25 L
Risk management 7.23 L
Marketing 5.79 L
Human resource Management 5.07 L
Information Technology 7.90 L
Operation Management 8.40 L

Salary of a Bank Manager: Experience Wise

Experience plays a very important role in determining the salary of a Bank Manager. The salary of a Bank manager based on years of experience is tabulated below for your reference, 

Experience Average Annual Salary (INR)
0 - 5 years 6.00 L
6 - 10 years 8.23 L
11 - 15 years 9.33 L
16 - 20 years 12.79 L
20 years & above 14.00 L

Salary of a Bank Manager: Company Wise 

India is home to several top banks in both private and public sectors. The average salary of a Bank Manager on the basis of the banks that they are working in is provided below for your reference.

Name of the Company Average Annual Salary (INR)
State Bank of India 10.93 L
Punjab National Bank 8.62 L
Yes Bank 8.06 L
ICICI Bank 8.52 L
UBS Bank 13.42 L
Deutsche Bank 10.62 L
Federal Bank 7.56 L
Canara Bank 7.20 L

Salary of a Bank Manager: City Wise 

The average salary of a Bank Manager depends on the region in which he is posted. Candidates residing in rural areas will be compensated comparatively less than those residing in urban areas across various cities is provided below for your reference.

Name of the Cities Average Annual Salary (INR)
Delhi 8.73 L
Mumbai 9.58 L
Kolkata 8.14 L
Bangalore 8.00 L
Hyderabad 8.24 L
Lucknow 7.50 L
Chennai 9.00 L

Salary of a Bank Manager: Country Wise 

The requirements of bank Managers are not only in India but also abroad. There are vast scopes for bank managers abroad. The average salary of a Bank Manager across various countries is tabulated below,

Name of the Countries Average Annual Salary (INR)
Russia 56.25 L
USA 76.88 L
Canada 48.37 L
Europe 79.67 L
China 46.06 L
Australia 54.12 L
Germany 61.77 L
France 64.00 L

Salary of a Bank Manager: Sector Wise

A Bank Manager's salary also depends on the sectors in which they work. The ones working in public or government banks earn more as compared to private banks. They are also entitled to get other benefits which private banks might or might not offer including retirement benefits. The sector-wise salary of a bank manager is provided below for your reference, 

Public Sector

Name of the Banks Average Annual Salary (INR)
State bank of India 9.27 L
Syndicate Bank 7.20 L
Canara Bank 8.12 L

Private Sector

Name of the Banks Average Annual Salary (INR)
Yes Bank 8.73 L
Corporate Bank 7.50 L
HDFC bank 8.60 L

Skills Required to become a Bank Manager

A Bank Manager should possess the following set of soft skills or technical skills in order to excel in the profession provided below for your reference,

Adaptability Computer Knowledge Business- Management skills
Branch Management Financial Analysis Risk Management
Business Development Operations Management Time Management

Top Recruiters for Bank Managers

Although all banks require a Bank Manager who manages the functionality of a Bank. Some of the top recruiters of Bank Managers are listed below, 

State Bank of India HDFC Bank Karur Vysya Bank
IDFC Bank Punjab National Bank Axis Bank
Federal Bank Canara Bank Union Bank of India
HDB Bank J & K Bank Indusind Bank

Salary of a Bank Manager: FAQs

Ques. What does a Bank Manager do?

Ans. Bank Managers perform various roles. Some of them are:

  • Create campaigns for the company to achieve their objectives 
  • Promote business, product or service
  • Managing budget, product and clients
  • Create prospective customers and retain the existing ones

Ques. Which course should I pursue to become a Bank Manager?

Ans. In order to be a Bank Manager, the candidate for a bachelor’s can pursue B.COM (Hons), BBA, B.Sc or any other course in any discipline and for post-graduation, they can pursue either MBA in Marketing or PGDM in Marketing.

Ques: What is the highest salary of a Bank Manager?

Ans. According to Glassdoor, the highest salary of a Bank Manager is around INR 20 LPA.

Ques: What is the average course fees of a Bank Manager?

Ans.  The average course fee of a Bank Manager in India is around INR 30,000 - 60,000.

Ques. What are the top skills required to become a Bank Manager?

Ans. The top skills required to become a Bank Manager are

  • Risk management
  • Computer knowledge
  • Time management
  • Analytical skills
  • Skill Development 

Ques. What are the types of Bank Managers? 

Ans. There are several types of managers as this a vast career option such as:

  • Business Development Manager 
  • Branch Manager
  • Probationary Officer
  • Digital Bank Manager 

Ques. What are the benefits of being a Bank Manager?

Ans. The benefits of being a Bank Manager are:

  • High-paying job
  • Job security
  • Promotional benefits 
  • Help in improving the name of the brand

Ques. Which company offers the highest salary to a Bank Manager?

Ans. According to Payscale, the company which offers the highest salary to a Bank Manager is UBS Bank and India. It offers around INR 9.27 LPA.

Ques. Do I need prior experience to become a Bank Manager?

Ans. No, candidates don’t need any prior experience to be a Bank Manager. However, the prior experience will help them get a higher position and even higher salary. 

Ques. What is the lowest salary of a Bank Manager?

Ans. According to Glassdoor, the lowest salary of a Bank Manager is INR 6.60 LPA. This is an entry-level position offered to the candidates.

Post Graduate Diploma in Banking and Finance [PGDBF] : 17 answered questions

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Ques. What is the difference between PGDM BFSI and PGDM Finance at IMT Ghaziabad ?

● Top Answer By Sreetoma Gupta on 04 Jun 23

Ans. The emphasis of the curriculum distinguishes the IMT Ghaziabad PGDM Finance programme from the full-time PGDM program. A general management education, including instruction in marketing, finance, operations, and strategy, is provided via the full-time PGDM programme. The program's participants will enroll in a range of business-related courses. On the other side, the PGDM Finance programme specialises in finance and related fields. With the option to specialise in fields including corporate finance, investment banking, and financial analysis, students in this programme will take courses that are highly focused on accounting and finance.Read more
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Ques. Should I go for PGDM General in FORE Delhi or TAPMI PGDM BKFS if I want to go in the finance sector?

● Top Answer By Aditi Banerjee on 25 May 23

Ans. I feel for Finance, TAPMI would be a much better option because it is good for finances in the Tier 2 league. But if you wish to explore other fields, such as marketing, operations, or analytics, or if you are not entirely sure of your profession, choose the Fore Delhi PGDM. Without a doubt, Fore is a top university, and your geographic location gives you an advantage. Additionally, placements this year have been excellent for all tier institutions.Read more
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Ques. Which course in TAPMI is better, the core PGDM, the HRM, or BKFS?

● Top Answer By Divya Kaur on 02 May 23

Ans. What's most important is that you enjoy it. The BKFS program is highly specialized and designed to equip students with the tools necessary to succeed in any financial-related field. The PGDM's first year emphasizes variety over specialization. Two years into the program, you'll have the option to focus on either Marketing, Operations, or Finance. It's up to you to determine the kind of career you want to have. Everything in the new system will be up to the individual, replacing both the major and minor systems. Although the HR course is brand new, it will be just as rigorous and cover the same ground as other courses.Read more
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Ques. Which one between IMI Delhi B&FS and TAPMI BKFS should one choose?

● Top Answer By Sagarika Dasgupta on 01 May 23

Ans. If you want to specialize in finance and want a career in that area, you should choose TAPMI PGDM(B&FS). If you're unsure which area to go into, you should choose PGDM. In the first three terms, you'll learn about all the different fields, and then in the second year, you'll choose your specialization. Having said that, let me tell you that if your choice is based on a brand name, you need to sit down and think about what you want to get out of the next two years while you are getting your degree. If you stay in NCR, you'll always have a lot of chances to work outside of your schoolwork.Read more
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Ques. Is it worth doing a BKFS PGDM from TAPMI?

● Top Answer By Hitesh Takran on 27 Apr 23

Ans. The infrastructure, faculties, and other facilities are similar in all TAPMI courses. So, it boils down to the placements of BFSI. With an average package of 15.7 lakhs per year, the Manipal-based TA Pai Management Institute (TAPMI) boasts 100% placement in the PGDM-BKFS (Post Graduation Diploma in Management - Banking and Financial Services) program for the class of 2021–23. The highest package awarded this year was Rs 22.3 lakh; the top 10 students received average CTCs of Rs 21.7 lakh. The highest package awarded this year was Rs 22.3 lakh; the top 10 students received average CTCs of Rs 21.7 lakh. All 59 of the students who qualified for placements were distributed among 21 different companies. Of these, pre-placement through summer internships was offered to 17 students, with an average compensation of 15.7 lakhs. However, it totally depends on your interest in doing PGDM in finance. If you are interested in any other domain, then BFSI is not for you.Read more
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Ques. Which is better, IMI Delhi BF&S or Great Lakes Chennai PGDM, considering I have no particular inclination towards finance but IMI is the bigger brand?

● Top Answer By Nikhil Chaturvedi on 16 Mar 23

Ans.  If you have the option of dropping a year and preparing for CAT, XAT, or other entrance exams, it may be worth considering. You can use the extra time to study and improve your scores, which could lead to better opportunities in the future. However, if you have decided to pursue an MBA this year, there are several factors to consider before choosing between IMI and GLIM. You should look at the return on investment (ROI), fees, faculty, location, and placement records of both institutions to determine which one is a better fit for you. It is important to note that neither the Business Forensic & Fraud Management (BF&S) program at IMI nor the Post Graduate Diploma in Management (PGDM) program at GLIM are the flagship programs of their respective institutions. You may want to research the other programs offered by each school to see if they align with your career goals. Personally, I would recommend GLIM over IMI. However, you should make your decision based on your own research and preferences, taking into account factors such as the curriculum, faculty, industry connections, and career prospects. It is important to choose a program that aligns with your career aspirations and provides the best value for your investment in terms of education, skills, and networking opportunities.Read more
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Ques. Which is better LBSIM, Delhi PGDM (general) or IMI, Delhi PGDM (B&FS)?

● Top Answer By Amay Singh on 03 Mar 23

Ans. PGDM BFS is a viable option if you are keen about numbers and finance in general. PGDM core and PGDM BFS rarely has a major difference in curriculum except that marketing subjects of BFS would be less intriguing and the major pedagogy is directed towards marketing of finance products and services only. A PGDM core student is open to a plethora of opportunities during placements as he is eligible to appear for companies offering marketing and sales profiles. On the contrary, a PGDM BFS student has been exposed to a customized curriculum that focuses mainly on Finance and lacks a wide range of opportunities. However, he has a more definite chance of securing placement at a company offering Finance roles like Banks and other financial institutions. This advantage seems very minimal right now but with the increase in the relevance of the curriculum and demand of the course, it will soon be coveted among Finance aspirants. The BFS faculties are considered to be among the best given the excellent performance of BFS students in the recent years and the increasing popularity of the course. The companies visiting the campus for BFS are not only banks but include AMCs, NBFCs, FinTechs and other Fin Services firms. The course targets the entire Banking and Finance sector.  At the end of the day, what remains of your college life is not the specific course you chose but the college you chose to pursue it. Be it PGDM Core or PGDM BFS, IMI Delhi is the perfect college to experience a great college life.Read more
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Ques. Which is better, a PGDM in banking and financial services at IMI, Delhi or a PGDM general in LBSIM, Delhi?

● Top Answer By Rajan Patel on 03 Mar 23

Ans. I can speak with certainty that PGDM at LBSIM is a far better option than PGDM in Financial services at IMI Delhi. My brother is a recent pass out from LBSIM and the following highlight of the institute are based on his personal experiences  The IIRF ranks LBSIM 25th among private colleges It has a spectacular ROI in terms of placements and fees LBSIM is famous for its student culture You can get an insight into various angles of the industry you will be dealing with in the future  You can avail an abundance of opportunities through live projects and get to have a detailed experience in your specialization. The institute prioritizes a practical approach over theoretical knowledge through academic activities outside the classroom Various academic and non-academic clubs make the environment a friendly one  The institute boasts of a 100% placement record It has an elaborate alumni network that is spread across top companies like Big Four’s, Arcesium, Marsh & Mclennan, Asian Paints, Crisil LBSIM collaborates with various international universities for its student exchange program. Some of them include Nanyang Technological University, Singapore, Northern Illinois University, USA, European Higher School of Economics and Management, Bulgaria etc. A unique feature of the B School is its Bloomberg Terminal which is restricted to the top B Schools like IIM B, IIM C, and FMS only. All these points clearly state that LBSIM is a very good choice for a PGDM program.Read more
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Ques. Which school is better, MDI Gurgaon or IIM K, if I want to be an equity research analyst?

● Top Answer By Yash Gupta on 22 Feb 23

Ans. If you go to the official website and compare the placement reports, MDI Gurgaon fares better than IIM Kozhikode. Let’s have a look at the placement statistics of the 2 B Schools.   Particulars  MDI IIM Kozhikode  Number of Recruiters  87 116 Highest CTC INR 1.14 CPA INR 61.5 LPA Average CTC INR 26.65 LPA INR 29.5 LPA Top Recruiters  Microsoft, Google, HCL, Adobe Accenture, Amazon, Microsoft The best finance companies that offer roles like Equity Research Analyst roles, and Securities analysis visit both the B Schools. But the higher number of companies visiting MDI Gurgaon gives it a slight advantage over IIM Kozhikode. Yet I think both MDI Gurgaon and IIM-K are almost equal in terms of giving you the opportunity of getting an Equity Research Analyst role. If I was in your place I would have chosen MDI Gurgaon because of the following factors Location Infrastructure  The industry-academia relationship Live Projects Guest Lectures Corporate Talks Peer learningRead more
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Ques. Which college is better for Finance among IMT Ghaziabad (PGDM) & TAPMI BKFS?

● Top Answer By Manmeet Singh on 27 Jan 23

Ans. IMT is a well-established college and comparing it to a mediocre college like TAPMI is not justifiable. Of the two, IMT Ghaziabad is clearly a better choice. To explain further I have compared both these institutes on the basis of some parameters like Establishment: Both these institutes were established in 1980 so they carry an equal legacy. Alumni: Despite a similar legacy, IMT Ghaziabad alumni are placed in higher positions and top firms today. The extensive alumni network has opened gates for corporate and industry exposure. IMT Ghaziabad’s alumni comprise more than 300 CXOs. Location: IMT Ghaziabad enjoys a better location advantage over TAPMI Pedagogy: Both the Institutes are AACSB accredited and follow similar curriculums yet there is a stark difference in the quality of education. This is because of the better pedagogy at IMT Ghaziabad than at TAPMI. Faculty: IMT Ghaziabad's teaching methodology is way ahead of that of TAPMI and the credit goes to its excellent faculty with amazing profiles. They have great industry exposure and help the students grasp the concepts practically. Placements: IMT Ghaziabad has an upper hand in this aspect also. This can be explained further through the table below Particulars  IMT Ghaziabad  TAPMI Number of recruiters 130+ 21 Highest CTC INR 62 LPA INR 22.3 LPA Average CTC INR 15.28 LPA INR 15.7 LPA Top Recruiters  Morgan Stanley, BCG, Accenture Consulting, Goldman Sachs, Google, Infosys Consulting, Emami International, TATA Consumer Product  EY, HDFC Bank, HSBC Bank, Tata Capital From the table you can easily infer that the placement scenario is far better at IMT Ghaziabad than TAPMI. In fact in almost all aspects IMT Ghaziabad is way ahead so it’s definitely a better choice than TAPMI.Read more
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