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3.9

based on 325 Reviews

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Magma HDI General Insurance Salaries in India

based on 1.8k latest salaries
Explore Salaries by Departments
BFSI, Investments & Trading Sales & Business Development Customer Success, Service & Operations Finance & Accounting + 6 more
Designation Avg Annual Salary Open Jobs

Relationship Manager

0 - 10 years exp. (134 salaries)
5 Lakhs

(₹3 L/yr - ₹6.5 L/yr)

Deputy Manager

4 - 16 years exp. (102 salaries)
7.9 Lakhs

(₹5.5 L/yr - ₹11 L/yr)

Senior Relationship Manager

5 - 21 years exp. (74 salaries)
6.1 Lakhs

(₹5.1 L/yr - ₹7.2 L/yr)

State Head

11 - 18 years exp. (41 salaries)
18.8 Lakhs

(₹9.1 L/yr - ₹27 L/yr)

Starting your career? Discover Magma HDI General Insurance fresher salaries in India

Senior Unit Sales Manager

3 - 11 years exp. (33 salaries)
4.4 Lakhs

(₹2.9 L/yr - ₹5.5 L/yr)

Senior Executive Operations

0 - 12 years exp. (28 salaries)
3.2 Lakhs

(₹2.3 L/yr - ₹4 L/yr)

Management Trainee

0 - 1 year exp. (24 salaries)
6.3 Lakhs

(₹4 L/yr - ₹8.5 L/yr)

Branch Head

4 - 17 years exp. (23 salaries)
9.9 Lakhs

(₹8 L/yr - ₹11 L/yr)

Unit Sales Manager

1 - 8 years exp. (21 salaries)
3.6 Lakhs

(₹2.5 L/yr - ₹5 L/yr)

General Manager

7 - 19 years exp. (21 salaries)
25.2 Lakhs

(₹14.5 L/yr - ₹31.2 L/yr)

Operations Executive

0 - 5 years exp. (15 salaries)
2.4 Lakhs

(₹1.7 L/yr - ₹3.2 L/yr)

Branch Head Agency

7 - 15 years exp. (15 salaries)
7.7 Lakhs

(₹5.7 L/yr - ₹10 L/yr)

Sales Manager

2 - 12 years exp. (14 salaries)
4.5 Lakhs

(₹3.5 L/yr - ₹7.3 L/yr)

Senior Territory Manager

6 - 14 years exp. (14 salaries)
6.8 Lakhs

(₹5.5 L/yr - ₹8 L/yr)

Cluster Manager

8 - 17 years exp. (13 salaries)
7.4 Lakhs

(₹6.2 L/yr - ₹9.5 L/yr)

Associate Vice President

13 - 19 years exp. (11 salaries)
36.8 Lakhs

(₹22 L/yr - ₹48 L/yr)

Team Manager

5 - 11 years exp. (9 salaries)
9.1 Lakhs

(₹7.5 L/yr - ₹13 L/yr)

Assistant Manager Operations

7 - 18 years exp. (8 salaries)
4.5 Lakhs

(₹4.4 L/yr - ₹5.2 L/yr)

Underwriter

0 - 5 years exp. (7 salaries)
5 Lakhs

(₹3.4 L/yr - ₹8.5 L/yr)

Area Head

5 - 17 years exp. (7 salaries)
18.8 Lakhs

(₹16 L/yr - ₹20 L/yr)

Last Updated: 14 Jul, 2024

Salary related reviews for Magma HDI General Insurance

3.7 Rated by 325 employees for salary and benefits

Senior Executive in Guntur

BFSI, Investments & Trading Department

2.0
posted on 16 Nov 2021

1.0 for Salary and Benefits

Likes

...h for this company.From last 6 months Company rules half of the employee go out. Company asking bussines with out any pay outs. As operation side last 2 FYI no hickes . On aug Hickes announced but not base KRA. Heads raltives and neer friends ,personal ratings. As my location Audit 100% also company KRA 100%, SOH questioners 90% .based my KRA I will get rating 2/1 but SOH personal feaver persons gets 2 and 1 .also they got premotions.who gets premotions there KRA 85%. This is enough for knowing company.how wants to this company they must have knowledge on Heads satisfaction.No need to works.On lock down company alloted target to OPs 10pacs PM for AP and TS. Out of 9 Employees I was done 6lacs on each month.Also I got appreciation from National heads.Those are not calculated on ratings premoted person done only 10k per month.

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Dislikes

Here employee not treated as employee.theyvtreatedcas slave

General Manager in Mumbai

Full Time

 · 

Legal & Regulatory Department

1.0
posted on 24 May 2024

1.0 for Salary and Benefits

Likes

MHDI company is good to work subject to you are not working in TP Claims department. Your life will be miserable. National Head is headless person. He don't respect his colleagues. He work like psycho and he only prefers person who belongs to his caste and state. He doesn't have law knowledge as well as his man management skills are pathetic.

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Dislikes

National Manager of TP Claims department is most corrupt person. Lots of fraud activity is taking place under his leadership. You have to work very vigilantly since there are high chances to falsely imply you in said fraud activity if you don't belong to his caste and community of National Head

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Head Business Human Resource in Mumbai

Full Time

 · 

Human Resources Department

5.0
posted on 07 May 2024

5.0 for Salary and Benefits

Likes

Everything. It’s a great learning platform and growth platform. A lot employees have grown over the time. The culture has been very good and the CEO drives it. Respect has been the cornerstone for majority senior leaders here. It’s like working with friends and family. Hope we can Lee the culture the same way.

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Dislikes

The organisation needs more clarity and unity of thoughts. Ownership is something as a team, they need to work on with specific timelines. Value in its people with respect is something which should be the cornerstone for this organisation.

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Manager in Kolkata

Full Time

 · 

BFSI, Investments & Trading Department

3.0
posted on 01 May 2024

3.0 for Salary and Benefits

Likes

We work 10 long year with magma hdi they use to treat each employee friendly you can reach to any one,now as the day passes it change completely

read more

Dislikes

We have given our prime time to this company now they threat us as they don't require us

Deputy Manager in Mumbai

Full Time

 · 

Other Department

3.0
posted on 18 Dec 2023

4.0 for Salary and Benefits

Likes

1. Excellent work life balance 2. HOD is friendly and jolly 3. HR leave policy & employee support 4. Friendly atmosphere in the company 5. Office timings only 8 hours (10 to 6) 6. Need basis WFH given 7. Providing IA related course memberships 8. Team outings 9. Learning exposure,but self start up basis 10. Lots of employee engaging activities and events are conducted for free in the office campus by management of brookfield property

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Dislikes

1. The kurla office location is very inconvenient for western line people.Too much hectic and costly travel 2. No subsidised food in canteen.The prices are like a restuarant. Also, outside and near to the office area, there are almost no food options available 3. Employee engagement / fun activities taken by HR is very less. Culture is poor as compared to other insurance industry. 4. Lots of attrition in the company and in the team.Also, the team size is very small compared to audit calendar 5. Vacant positions in the team are filled after a long gap 6. Mentoring is average especially for freshers and people from out of insurance field. 7. Annual performance bonus is not applicable for below manager position 8. Majority of functions and the top management have a very casual approach and are less interested towards audit.Some of the departments are least bothered in sharing data, proper responses, having meetings, timely closures etc. 9. There is a bit issue in getting exam leaves for professional courses even if it is for a week 10. No improvement in audit procedure and practices. Many unnecessary things are to be followed and performed while doing audits. 11. No audit tool,everything is manual 12. Poor quality and low specification laptop is provided to employees 13. 4th and 5th Saturdays are WFH

read more
see more salary related reviews

Magma HDI General Insurance Salary FAQs

How much does Magma HDI General Insurance pay per year?
The average Magma HDI General Insurance salary ranges from approximately ₹1.8 Lakhs per year for a HR Intern to ₹36.8 Lakhs per year for a Associate Vice President. Salary estimates are based on 1.8k Magma HDI General Insurance salaries received from various employees of Magma HDI General Insurance. Magma HDI General Insurance employees rate the overall salary and benefits package 3.7/5 stars.
What is the highest salary in Magma HDI General Insurance?
The highest-paying job at Magma HDI General Insurance is a Associate Vice President with a salary of ₹36.8 Lakhs per year. The top 10% of employees earn more than ₹17.77 lakhs per year. The top 1% earn more than a whopping ₹41.84 lakhs per year.
What is the minimum salary in Magma HDI General Insurance?
Minimum salary at Magma HDI General Insurance depends on the role you are applying for. For Senior Executive Operations the minimum salary is ₹3.2 Lakhs per year, for Senior Executive the minimum salary is ₹3.8 Lakhs per year and so on.
What is the salary package for freshers in Magma HDI General Insurance?
The average salary at Magma HDI General Insurance for freshers varies from ₹6.0 Lakhs per year for Underwriter to ₹6.5 Lakhs per year for Management Trainee.
What is the notice period at Magma HDI General Insurance?
According to AmbitionBox, 42% of the Magma HDI General Insurance employees reported a notice period of 2 Months, 29% reported a notice period of 3 Months and the remaining reported other notice period durations. This is based on 1.3k responses on AmbitionBox in last 2 years.

Tell us how to improve this page.

Average annual salary in Magma HDI General Insurance is INR 8.9 lakhs . Salary estimates are based on 1.8k Magma HDI General Insurance latest salaries received from various employees of Magma HDI General Insurance.