Union Bank Wealth Manager Salary 2025: In-Hand Pay, Allowances, Perks & Job Profile

Union Bank Wealth Manager Salary: Union Bank of India aims to fill 250 vacancies for the Wealth Manager (Specialist Officers) post. It is an excellent opportunity for experienced postgraduates seeking a respectable position in the banking sector. The selection process involves online examination, Group Discussion (GD), and Personal Interview (PI). The Union Bank SO salary typically ranges between Rs 64820 and Rs 93960. This post offers an attractive salary package and various benefits like DA, special allowances, etc. Applicants eyeing this post should also stay updated with the job requirements to avoid any confusion in future. Further information about the Union Bank Wealth Manager salary and job profile is discussed on this page.

Union Bank Wealth Manager Salary 2025

Union Bank of India has released the salary and job profile details for the Wealth Manager post in the advertisement PDF. Candidates will be required to clear all the selection stages to get appointed for this designation. The Wealth Manager (Specialist Officers) is a highly prestigious role within the banking sector. It provides a lucrative basic salary at the entry level, which is further enhanced by regular increments. The Union Bank SO salary is determined under the pay scale of Rs 64820- 2340/1- 67160- 2680/10- 93960. The CTC for MMGS II officers posted in Mumbai is around Rs 21.00 Lakhs. However, this may differ depending on the posting location and individual cases.

Union Bank SO Salary Structure

The Union Bank SO salary structure consists of numerous elements like pay scale, basic pay, allowances, deductions, increments, gross salary, net salary, etc. The salary and associated benefits are decided based on the bank's policies. It ensures financial benefits to all its employees. Check the detailed breakdown of the Union Bank Wealth Manager salary structure for your reference.

What is the Union Bank Wealth Manager salary?

The Union Bank SO salary typically ranges between Rs 64820 and Rs 93960. It also includes perks and allowance based on your posting location.

What allowances are included in the Union Bank SO salary?

Some of the allowances, like Dearness Allowance, Special Allowance, LFC, etc, are included in in-hand salary.

Union Bank Wealth Manager In Hand Salary

The Union Bank SO salary in hand implies the addition of basic pay and allowances, and then subtracting from the total deductions like PF, tax, etc. The starting monthly salary includes basic pay of Rs 64820, which can increase up to Rs  93960 based on annual increments and year of service. Moreover, the CTC for MMGS II officers posted in Mumbai is around Rs 21.00 Lakhs. The actual Union Bank Wealth Manager salary per month also depends on your posting location and allowances.

Union Bank Wealth Manager Salary: Perks & Allowances

The appointed officers will be entitled to different perks, amenities and allowances as per the rules and regulations in the Bank. These benefits play a big role in enhancing the total monthly salary. The list of perks and allowances included in the Union Bank Wealth Manager salary per month is as follows:

• Basic Pay

• Dearness Allowance

• Special Allowance

• Residential quarters/lease rent in lieu of quarters

• Conveyance reimbursement

• Mobile expenses

• LFC

• Reimbursement of medical/hospitalisation expenses, etc

Union Bank Wealth Manager Probation

The probation period of Wealth Manager (Specialist Officers) at Union Bank will be 2 years. They will also be required to sign a Service Indemnity Bond undertaking to work in the Bank for at least 3 years. If they leave the bank before completing 3 years of their service, they will have to pay the Rs 2,50,000 along with applicable taxes (if any) as per Government norms.

Union Bank Wealth Manager Job Profile

A Wealth Manager (Specialist Officers) is primarily responsible for ensuring smooth day-to-day branch operations. Here are the roles and responsibilities included in the Union Bank Wealth Manager job profile:

• Serves as a sole contact for all banking requirements of clients.

• Establish, grow, and maintain strong professional connections with clients.

• Provide clients with suitable investment and insurance options.

• Emphasis on boosting the overall TRV and AUM.

• Conduct financial need assessments and risk profiling for all the HNI clients.

• Perform periodic assessments of client investment portfolios.

• Maintain 100% transaction documentation and implement client instructions efficiently within the shortest TAT.

• Organise training sessions to enhance insurance and investment knowledge across the field and branch teams.