- Company at IIM Calcutta offered Rs 80 LPA with Rs 40 LPA for kidnapping insurance
- The African company included ransom payment as part of total compensation package
- Kushal Lodha called the CTC vs in-hand salary difference a kind of scam
Popular podcaster Kushal Lodha shared an incident when a company participating in IIM Calcutta's placements made a unique offer, proposing an Rs 80 lakh per annum (LPA) package, with a significant portion allocated for 'kidnapping insurance'. The incident sparked an online conversation on how an employee's total cost to the company (CTC) and in-hand salary often differ.
During a conversation with entrepreneur Aman Dhattarwal, Lodha said that an African company came to an IIM for placements and offered a package of Rs 80 LPA on paper, out of which 40 lakh was for kidnapping insurance.
He didn't reveal the name of the company, but this unusual component sparked a debate on social media.
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Watch the video here:
"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."
"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."
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Social Media Reaction
The video went viral with over two million views and nearly 39,000 likes. Online users took to the comment section to share their reaction, with some calling it "bizarre".
"One of my friends actually had received this offer. They limit it to 2 time kidnapping ransom only," one user wrote.
"Did any one join that company," another user asked.
"Good idea get kidnapped with your frnd," a third user said.
When it comes to IIM Calcutta, it has consistently achieved 100% placement rates, with top companies like Boston Consulting Group, Accenture Strategy, and Goldman Sachs participating.
