Podcaster Kushal Lodha recounted a viral incident where a company at IIM Calcutta offered an ₹80 LPA package, with a staggering ₹40 lakh designated for kidnapping insurance. This unusual CTC component sparked a widespread online debate about the difference between a company's cost and an employee's actual take-home salary.
Popular podcaster Kushal Lodha recounted an event in which a firm participating in IIM Calcutta's placements made an unusual offer, providing a Rs 80 lakh per annum (LPA) package with a considerable chunk set aside for 'kidnapping insurance'. The event generated an online discussion about how an employee's total cost to the firm (CTC) and actual wage frequently mismatch.
During a meeting with entrepreneur Aman Dhattarwal, Lodha stated that an African business approached an IIM for placements and offered a package of Rs 80 LPA on paper, of which 40 lakh was for abduction insurance. He didn't reveal the name of the company, but this unusual component sparked a debate on social media.
"This CTC vs in-hand salary is a sort of a scam, I feel," Lodha said. "This company came to IIM Calcutta offering Rs 80 lakh per annum. And this was an Africa-based company. Apparently, kidnappings are very common there."
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"So out of that Rs 80 LPA, Rs 40 LPA was fixed. The other Rs 40 lakh was kidnapping insurance... which the company would pay as ransom if the employee was abducted."
Social Media Reactions
The video went viral, garnering over two million views and almost 39,000 likes. Online users expressed their reactions, with some calling it "bizarre".One of my pals had really gotten this offer. One user stated, "They limit it to two times of kidnapping ransom only."
"Has anyone joined that company?" another user said. "It's a good idea to get kidnapped with your friend," a third person said.
“Some Of the companies there hire professional negotiators to negotiate kidnapping ransom," said another.
“At least they honestly say our justice system is useless. No false hope," wrote one user, reflecting the dark humour surrounding the unusual package structure.
IIM Calcutta has regularly achieved 100% placement rates, with notable organisations such Boston Consulting Group, Accenture Strategy, and Goldman Sachs participating.
