GIC Assistant Manager Salary | Perks, Allowances, Benefits

GIC Re, General Insurance Corporation of India, Reinsurer, is set to conduct the online exam for the Recruitment of Scale 1 Officers (Assistant Managers – 44 vacancies) on 9th May 2021. Now, the GIC salary slip can be a motivating factor while candidates prepare for the exam. GIC Re is an Indian Reinsurer with a global footprint, is the 11th largest Reinsurance company in the World with a wide network in India & abroad. With all that exposure and the handsome salary, GIC offers one of the finest career options. In this blog, we’ll have a closer look into the GIC Assistant Manager Salary, perks and allowances, and more. So let’s get started.

GIC Re Assistant Manager Recruitment Overview

Name of OrganizationGeneral Insurance Corporation of India, Re
PostsAssistant Manager
No. of Vacancies44
Application Start Date11th March 2021
Application End Date29th March 2021
Exam Date9th May 2021(Tentative)
Admit Card Release DateTo Be Announced
Mode of ExamPhase I- Online Test- OnlinePhase-II- Group Discussion and Interview – Offline
Selection Process Online Test
Group Discussion and Interview

GIC Re (Assistant Manager) Salary

GIC Re provides excellent opportunity for career growth in the highly specialized area under which the Corporation is operating, through training and development interventions within the country as well as overseas. GIC (Assistant Manager) Officer Scale I Salary as per the official notification is mentioned below –

GIC Officer Scale I (Assistant manager) Salary

Pay ScaleRs. 32795 -1610(14) – 55335-1745(4) – 62315
Basic PayRs. 32,795 (Increment for 14 Years = Rs. 1610/-)
Basic Pay after 14 yearsRs. 55,335 (Increment for 4 Years = Rs. 1745/-)
Maximum Basic PayRs. 62,315
Gross Monthly SalaryRs. 65,000/-p.m.
Total Salary Per AnnumCurrent CTC (Cost to Company) of Assistant Manager posted in Mumbai is approximately Rs13 lakh per annum.

As per the GIC notification released, Basic Pay Rs. 32,795/- per month in the scale of Rs.32795 -1610(14) – 55335 -1745(4) – 62315 and other admissible allowances
like DA, HRA, CCA, etc.

GIC Assistant Manager Monthly Gross Salary

The total emoluments will be about Rs. 65,000/-p.m. plus other benefits mentioned below.

The in-hand salary of GIC Assistant manager will be around 57,000 per month after all deductions.

GIC Slary Slip
GIC Salary Slip – Oct 2018 (Since the Gross Salary is in now 65,000 as compared to 57,615 in Oct 2018, you can expect a similar raise in the take home salary.)

GIC Assistant Manager Benefits and Allowances

The benefits given to GIC Assistant Managers makes the big difference. The benefits and allowances given to GIC Officer Grade I are mentioned below –

  • New Pension Scheme
  • Newspaper /Internet Allowance,
  • Leave Travel Subsidy,
  • Medical Benefits,
  • House Furnishing Allowance,
  • Household Help Allowance,
  • Sodexo,
  • Personal Accident cover,
  • Housing, vehicle and computer loans with subsidized interests, and
  • Interest free advances for festival, natural calamities and any other benefits as per rules and on confirmation of service in the Corporation.

The officers are also entitled for Corporation’s / leased accommodation as per norms. (Presently Corporation owned accommodations are not available, whereas lease accommodation will be permitted as per norms). The present lease accommodation limits at Mumbai is Rs. 30,000/- per month.

How to Prepare for GIC Assistant Manager Exam

Oliveboard provides you GIC Assistant Manager Online Test Series that you can access from your smartphone and desktop with ease. All the Practice Questions in GIC Online Mock Test Series are based on the latest exam pattern. All GIC AM Mock Test Series Questions are prepared after an in-depth analysis of the previous year GIC Asst. Manager question papers. We provide you with a detailed solution for each question of all GIC Assistant Manager Mock Tests. Here is what you’ll receive –


Practice with Mock Tests

Improve Your Score

That all we have for you in the blog GIC Assistant Manager Salary. Hope you find the information useful and get a step closer to acing GIC online exam.

GIC Assistant Manager Salary FAQs

What is the salary of the GIC Assistant Manager?

The total emoluments will be about Rs. 65,000/-p.m. plus other benefits mentioned below.

How to prepare for GIC Assistant Manager Exam?

Best preparation includes taking quality mock tests. You can take your first Free GIC Mock Test Here.

What is the in-hand salary of the GIC Assistant Manager?

The in-hand salary of GIC Assistant Manager will be approx Rs. 57,000/-p.m. This may vary based on allowances.

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