Designations in HDFC Bank: From Joining as an Assistant Manager to climbing to the rank of Managing Director.

What is HDFC Bank known for?

HDFC Bank is one of India’s leading private sector banks, providing a wide range of financial products & services across hundreds of Indian cities.

It was incorporated in August 1994 by the name of HDFC Bank Limited, with its registered office in Mumbai, India. The bank commenced operations as a Scheduled Commercial Bank in January 1995.

The bank has emerged as a critical player in retail banking, wholesale banking, & treasury operations, its three principal business segments.

In 2022, it secured a total revenue of 1.68 lakh crores INR (US$22 billion).

As a fresher, you have probably thought about joining HDFC Bank. And why wouldn’t you?

The HDFC Bank is one of the most preferred organizations to work with. It was awarded the title ‘India’s Best Corporate Bank 2022’ by Asiamoney.

But before you go ahead you have to decide on what role you want to have, and what skills are required for that job.

Like every corporate bank in India, HDFC also has a hierarchy system to which they assign every employee.

Your role may vary based on the job function or department you’ll be appointed, such as Operations, Finance and business development, Human Resource Management, Information Technology, etc.

Here are the lists of the entire up-to-date staff Hierarchy of HDFC Bank

• E1 – Assistant Manager
• E2 – Deputy Manager
• E3 – Manager
• E4 – Senior Manager
• D1 – Assistant Vice President
• D2 – Deputy Vice President
• D3 – Vice President
• D4 – Senior Vice President
• D5 – Senior Vice President
• C1 – Executive Vice President
• C2 – Executive Vice President
• CX – Group Head (Cluster Head)
• ED – Executive Director
• MD – Managing Director and CEO – Chief Executive Officer

What is the basic salary at HDFC Bank?

E1 – Assistant Manager: This grade is at the bottom of the hierarchical structure in HDFC Bank.

You could be assigned to any department/office/branch of the bank.  It completely depends on your educational qualifications and the bank. This is similar for any grade level.

The typical HDFC Bank Assistant Manager’s salary is ₹3,55,264 per annum. 

E2 – Deputy Manager: A Deputy manager is a middle-level officer in a bank. They are second-in-command to the Manager.

The typical HDFC Bank Deputy Manager’s salary is ₹5, 11,075 per year.

E4 – Senior Manager: The typical salary of a HDFC Bank Senior Manager is ₹13, 93,837 per year.

D1 – Assistant Vice President: The typical salary of an Assistant Vice President of HDFC Bank is ₹23, 00,000 per year.

D2 – Deputy Vice President: The typical salary of a Deputy Vice President of HDFC Bank is ₹35, 83,421 per year.

D3 – Vice President: The estimated total salary of a Vice President at HDFC Bank is ₹4,615,316 per year.

D4 – Senior Vice President: The typical salary of a Senior Vice President at HDFC Bank is ₹73, 63,755 per year.

CX – Group Head (Cluster Head): The typical salary of the Cluster Head at HDFC Bank is ₹22,05,048 per year.

MD – Managing Director and CEO – Chief Executive Officer: Mr. Sashidhar Jagdishan is the Managing Director & Chief Executive Officer of the Bank since 27 Oct 2020.

He received a remuneration of Rs 6.51 crores in FY22.

The employee grade levels such as D1 – D2 or C1 – C2 are made to distinguish between higher and lower grades. (D2 or C2 being the higher grade and so on)

It takes approx 2 years for you to go from E1 to E2 and E2 to E3. However, you can get promoted quickly if your performance is extraordinary. This also depends on the department you are working in.

Please note that these are grades, not job profiles. The salaries are estimates gathered from Glassdoor.