Home / Business and Economy / Viral IIM Placement: Africa Firm Offers Rs 40L Kidnap Cover
Viral IIM Placement: Africa Firm Offers Rs 40L Kidnap Cover
7 Apr
Summary
- A company offered Rs 80 lakh package with Rs 40 lakh for kidnap insurance.
- The unusual offer was made by an Africa-based company during IIM placements.
- The story highlights the gap between CTC and actual in-hand salary.
A striking campus placement offer from an Africa-based company at the Indian Institute of Management Calcutta has become a viral sensation. The company reportedly offered an annual package of Rs 80 lakh, with a significant portion, Rs 40 lakh, designated as kidnapping insurance. This meant the company would cover ransom costs if the employee was abducted.
The anecdote, shared by podcaster Kushal Lodha, quickly garnered millions of views online. It has spurred a widespread conversation about the discrepancy between the gross Cost to Company (CTC) figures often advertised during placements and the actual take-home salary. Such breakdowns reveal how salary components can inflate the total package.
The viral story has put a spotlight on the structuring of placement packages at prestigious institutions like IIM Calcutta. While global recruiters regularly offer lucrative roles, this incident highlights that not all salary components translate to direct earnings, and some may come with extraordinary conditions.
