IIM Calcutta Placement Story Highlights Salary Misconceptions
Rs 80 LPA job offer, but Rs 40 lakh is 'kidnapping insurance': Podcaster shares IIM placement anecdote with 'ransom cover'
The Economic TimesImage: The Economic Times
A recent podcast by Kushal Lodha revealed an unusual job offer from a company during placements at the Indian Institute of Management Calcutta, where an advertised salary of ₹80 lakh per annum included ₹40 lakh as 'kidnapping insurance.' This has sparked discussions on the misleading nature of salary packages.
- 01The job offer included ₹40 lakh as kidnapping insurance, reducing the actual take-home salary.
- 02The fixed salary was only ₹40 lakh, raising concerns about transparency in salary structures.
- 03The story highlights the common disparity between Cost to Company (CTC) and actual earnings.
- 04The anecdote has gone viral, generating both humor and serious debate online.
- 05Social media users have speculated about the company's identity, with some suggesting it might be Tolaram Group.
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In a recent podcast, Kushal Lodha shared a striking placement story from the Indian Institute of Management Calcutta, where a company offered a ₹80 lakh per annum (LPA) package. However, only ₹40 lakh was a fixed salary, while the other ₹40 lakh was designated as 'kidnapping insurance'—a clause intended to cover ransom costs in regions where the company operates, reportedly due to high kidnapping risks. This revelation has reignited discussions about the misleading nature of advertised salary packages, as many job seekers often find a significant gap between Cost to Company (CTC) figures and actual take-home pay. The podcast clip has since gone viral, eliciting a mix of humor and serious commentary on social media. Users have joked about the implications of such a benefit, while others have questioned the transparency of such salary structures. Some speculated that the company involved might be the Tolaram Group, although this remains unverified. Overall, this incident underscores the importance of clarity in salary discussions for prospective employees.
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This story highlights the need for transparency in salary discussions, which could influence job seekers' decisions and expectations.
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