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Salary of a Bank Manager: Per Month, In India, Highest Salary, Average Salary 2023

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Ahana Bhaduri

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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, various 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, provident fund etc. 

Read More: Role of a Bank Manager 

In order to become a Bank Manager, aspiring candidates must pursue undergraduate and postgraduate Banking courses from any of the top Banking colleges across the country. Apart from banking courses, candidates can also pursue Management courses or MBA from any of the top MBA Colleges across the country. Admissions to any of the top MBA Colleges are done on the basis of Management Entrance Exams such as CAT, MAT, XAT, and SNAP. Also Check: Qualifications of a Bank Manager

Average Salary of a Bank Manager

One of the main duties of a Bank Manager is to work on sales and attract customers to their bank. In order to be a successful Bank Manager, one needs to possess leadership and interpersonal skills to interact with the customers and lead their team towards better performance of the bank. 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. 

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] : 21 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. What should be preference order of IMT Ghaziabad courses- PGDM, PGDM marketing, PGDM finance, PGDM DCP, PGDM banking, insurance and financial services?

● Top Answer By Dhruv Chatterjee on 25 Jan 23

Ans. IMT Ghaziabad offers a variety of courses that cater to various specializations. These courses have been listed and explained in their order of preference PGDM Marketing/PGDM Full Time (Marketing): This is the most coveted program among IMT students mainly because today its alumni have acquired top positions in big firms. Other major reasons include top-notch faculty, great internship and placement opportunities in terms of role and CTC, IMT’s eligibility, and excellent performances in recognized marketing and strategy B Schools competitions. PGDM Finance/PGDM Full Time (Finance): This one is most suitable for aspirants who are interested in Finance. However, this program offers lesser opportunities than the Marketing program in terms of role and CTC.  PGDM Full Time (Operations): This program offers opportunities similar to that of Finance. But the batch size of PGDM Operations is smaller than PGDM Finance, so it may be easier to secure an internship/final placement, but the opportunities come less compared to Finance. PGDM DCP: DCP or the Dual Country Program is for those who are keen to get international exposure. Compared to an MBA from a foreign university, this program is cheaper and yet offers an opportunity to explore a different culture and learn to make decisions in an international context. This is best suitable for those who are in the Marketing domain. PGDM Banking and Financial Services (PGDM-BFS): This program was launched in 2019 and is relatively newer. It targets the core Banking and Finance sector. While the MBA program aims to provide a holistic view of management, this program solely focuses on Banking and Finance. PGDM Full Time (HR): This is the least taken course and offers very less in terms of opportunities. The courses have been arranged preference-wise so will make it easy for you to choose one.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. How good is the TAPMI Bkfs course?

● Top Answer By Divya Kaur 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.Read more
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Ques. What's the difference between TAPMI core pgdm and bkfs?

● Top Answer By Vihan Manjunath on 28 Aug 20

Ans. The difference between PGDM and PGDM-BKFS is that PGDM is the general MBA program and the course curriculum comprises all fundamental and cross-sectional areas of management while the course curriculum of PGDM-BKFS is tailor-made for Finance. In the first year for PGDM students are required to study various management-related subjects like Marketing, Finance, HR, and Operation. However, the BKFS course only includes Finance related topics. TAPMI offers good infrastructure for BKFS. The institute has the largest state-of-arts finance lab in the country with 16 Bloomberg terminals. TAPMI also offers a unique Student Managed Investment Course (SMIC) for the finance stream in which BKFS students work in teams and each team has a mentor from industry currently working in the BFSI Sector. Also, unlike the traditional internship that PGDM students go through the BFS cohort had a two-month study tour in Bombay Stock Exchange where the students had their live projects. Given below is a comparison between the two courses. Categories PGDM PGDM-BKFS Course Name Post Graduate Diploma in Management Post Graduate Diploma in Management - Banking and Financial Services Intake 360 60 Course Fee 14.3 lakh (2 years) 14 Lakh (2 years) >Highest Salary Package 25 LPA 25 LPA Average Salary Package 11.50 LPA 12.75 LPA Recruiting Companies Alien Technology, Arcesium, Wipro, Capgemini, ITC, HCL, etc. Axis Bank, Yes Bank, HSBC, etc.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 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 one to choose between TAPMI PGDM and IMI Delhi PGDM (Banking & Finance)? Give reasons for the choice.

● Top Answer By Aditya Kwatra on 03 Mar 23

Ans. I am certain that if I had been in your place I would have opted for TAPMI PGDM over IMI Delhi PGDM. I even have a friend who recently joined this program and is very happy with her decision so I have more assurance in this regard. TAPMI is well recognized not only in India but abroad as well, especially in the Middle East. I know many colleagues from my last workplace who relocated to the Middle East and other foreign countries after graduating from TAPMI. The infrastructure and campus are very beautiful, unlike the NCR campus which is hot and congested. Delhi is suitable only if you are interested in Sales roles. Else for specialization in Finance and Banking TAPMI is the best choice one can make. Some companies that visited the campus during placements are Deloitte Bajaj CRISIL Fincare HDFC Bank Invesco I think TAPMI is the best option if you are looking for a sales role in a Finance company.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. What should be the preference order of IMI Delhi courses - PGDM, PGDM-HRM, and PGDM-BFS?

● Top Answer By Churni Sengupta on 31 Oct 20

Ans. IMI Delhi is among the top B schools of Delhi NCR. It holds a distinct reputation for the establishment of centers of excellence in different streams of management. The faculty is experienced and well qualified. Pre-placement offers are also a dominant feature of the institute. Apart from placements it has attractive internship statistics also relating to better career growth. It offers streams in three major areas which are General, Human resources, and Banking & Financial Services. All these streams are linked to a single program which is PGDM but the decision underlining preference depends on factors like fees and placements, etc which are discussed below. Academics: The eligibility stays the same for all streams which are graduation with CAT/GMAT Score. Fees also stand common for all streams at INR 17.5 Lakhs. Placements: PGDM holds a batch strength of 224 students and generally ends up providing the highest package of INR 22 LPA. The average package is also quite decent with a range of INR 13.07 LPA PGDM HR has 45 students and managed to provide a salary range of INR 12 – 14.5 LPA. PGDM had 48 students with a 100% placement criterion and the highest package of INR 20.75 LPA and an average of INR 12.88 LPA. Sector-wise Placements: The recruitment details can clearly specify the sector & domain which turns out to be favorable with respect to the investment made. The details are as follows. PGDM Banking is a preferable sector as it attracts 29% of the placements. HR is looked upon for the IT/ITES / Media / TELECOM sector. The top recruiters for the BFSI sector are American Express, ICICI Bank, HDFC Bank, Tata Capital, and SBI Capital The top recruiters for the HR sector are Accenture, Infosys, Genpact, Capgemini. Going for PGDM General can give an opportunity to focus on manufacturing / real estate and the FMCG sector. The general preference of courses looked upon by potential students and alumni are PGDM Marketing then Banking and at last Human Resources.Read more
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