A semiconductor module includes a semiconductor device and bus bar. The device includes an insulating substrate, conductive member, switching elements, and first/second input terminals. The substrate has main/back surfaces opposite in a thickness direction, with the conductive member disposed on the main surface. The switching elements are connected to the conductive member. The first input terminal, including a first terminal portion, is connected to the conductive member. The second input terminal, including a second terminal portion overlapping with the first terminal portion in the thickness direction, is connected to the switching elements. The second input terminal is separate from the first input terminal and conductive member in the thickness direction. The bus bar includes first/second terminals. The second terminal, separate from the first terminal in the thickness direction, partially overlaps with the first terminal in the thickness direction. The first/second terminals are connected to the first/second terminal portions, respectively.