Rs 80 LPA job offer, but Rs 40 lakh is 'kidnapping insurance': Podcaster shares IIM placement anecdote with 'ransom cover'

An unusual placement story from one of India’s top business schools is making waves online, highlighting the gap between advertised salary packages and actual take-home pay. Podcaster Kushal Lodha recently shared an anecdote about a company offering an Rs 80 lakh per annum (LPA) package during placements, but with a surprising twist.

Rs 80 LPA CTC vs Rs 40 Lakh In-Hand Salary

During a podcast conversation with entrepreneur Aman Dhattarwal, Lodha explained how the offer was structured at Indian Institute of Management Calcutta. While the company advertised an impressive Rs 80 LPA package, only Rs 40 lakh was fixed salary. The remaining Rs 40 lakh was allocated as “kidnapping insurance”.

“This CTC vs in-hand salary is a sort of a scam, I feel,” Lodha said, pointing out how headline figures can often be misleading.

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A post shared by Kushal Lodha (@kushallodha548)

What Is the ‘Kidnapping Insurance’ Component?

According to Lodha, the company, reportedly based in Africa, included a special clause in the compensation package.

“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.”

The rationale behind this unusual benefit stems from safety concerns in certain regions where the company operates, where kidnapping risks are reportedly higher.

Social Media Reacts with Humour and Debate

Although the podcast discussion originally took place last year, the clip has resurfaced online and quickly gone viral, sparking a mix of amusement and criticism.

Social media users joked about the unusual perk:

• “If ransom goes above Rs 40 lakh, can you claim the rest next year?”
• “Get your friends to kidnap you every year and recover the money!”

Others took a more serious tone, questioning the transparency of salary structures and the inclusion of such components in Cost to Company (CTC) figures.

Some users even claimed the firm in question was Tolaram Group, though this has not been officially confirmed.

CTC vs Take-Home Salary

The story has once again brought attention to a long-standing concern among job seekers, the difference between CTC and actual earnings.

Experts often point out that CTC can include several components such as:

• Insurance benefits
• Bonuses and incentives
• Allowances and reimbursements

While these add to the overall package, they may not translate into direct monthly income.

Key Takeaways

• Rs 80 LPA offer included Rs 40 lakh as kidnapping insurance
• Actual fixed salary was Rs 40 lakh
• Incident highlights gap between CTC and in-hand salary
• Viral clip has sparked debate and humour online

Disclaimer: This article is based on a viral post on social media. ET.com has not independently verified the claims made and does not vouch for their accuracy. The views expressed are those of the individual and do not necessarily reflect those of ET.com. Reader discretion is advised.