IRDAI Assistant Manager Salary 2023: Check Here Salary In Hand, Job Profile, Career Growth

IRDAI Assistant Manager Salary 2023: Insurance Regulatory and Development Authority of India (IRDAI) governs the insurance industry in the country. IRDAI conducts an open competition on all India basis for the appointment of Assistant Manager (AM) for its various offices. The selection will be done through phase I (online preliminary examination) followed by phase II (descriptive examination) and phase III (interview). 

Candidates who apply for the examination can check here the detailed IRDAI assistant manager salary along with the allowances applicable for the post to understand the pay scale offered by the authority. Furthermore, candidates selected for all streams will be placed in the common seniority and the seniority among these officers will be fixed as per the ranking secured by selected candidates. On selection, the selected candidates will undergo probation for a period of one year subject to any extension of such probation.

In this article, we will discuss the IRDAI Assistant Manager salary structure, in-hand salary, perks & allowances.

IRDAI Assistant Manager Salary Structure

The selected candidates for the post of IRDAI Assistant Manager will draw an initial basic pay of Rs.44,500/- per month in the scale of Rs. 44500-2500(4)-54500-2850(7)-74450-EB-2850(4)-85850-3300(1)- 89150 (17 years) and other allowances applicable to their post. Presently, the initial monthly gross emoluments for IRDAI Assistant Manager is approximately Rs.1,30,000/- (excluding qualification allowance, wherever applicable).

IRDAI Assistant Manager In Hand Salary

The initial basic pay for IRDAI Assistant Manager is Rs.44,500/- per month after joining the post. However, the salary in hand will be increased with the number of working years of the candidates. Check the table below to know the monthly salary for the assistant manager post in IRDAI.

IRDAI Assistant Manager Allowances

Along with the basic salary, the selected candidates shall also enjoy different perks and allowances on a monthly basis. Let us look at the details of the perks & allowances offered:

• Dearness Allowance
• House Rent Allowance
• Qualification Allowance
• City Compensatory Allowance
• Grade Allowance
• New Pension Scheme (NPS)
• Other Allowances

IRDAI Assistant Manager Job Profile

As an IRDAI Assistant Manager, the candidates need to perform all the tasks assigned to them by the higher authority. The roles and responsibilities are as follows:

• Provide assistance in the regulation and promotion of the insurance sector in India. 
• Ensure the smooth functioning of the insurance sector and safeguard the interests of policyholders.
• Maintain good communication with stakeholders,  policyholders, insurance companies, and other related authorities.
• Perform research and analysis on insurance-related areas, monitor and supervise actions of insurance companies in order to ensure compliance with regulatory requirements, etc.
• Provide training and guidance to junior employees and participate in various committees to promote the objectives of the organization. 

IRDAI Assistant Manager Probation Period

The candidates selected for the post of IRDAI Assistant Manager will be required to undergo probation for a period of 1 year subject to an extension of such probation. With this, the total period of probation shall be a maximum of 2 years from the date of joining the service. 

IRDAI Assistant Manager Career Growth

The candidates who are selected as IRDAI Assistant Manager will be promoted to the post of Deputy Manager and then Manager. The IRDAI Assistant Manager promotion and career growth are given below. 

• Assistant Manager
• Deputy Manager
• Manager
• Senior Manager
• General Manager