Monday, 30th March, 2020


Company offering IIT grads highest CTC found having variable component based on height growth during job

03, Dec 2014 By indianpsycho

Mumbai. After reports of Facebook offering Rs.1.55 cr CTC to IIT Bombay grads, has come another news report where a company is offering a package of 6 crores.

The company could have alternatively also offered variable package based on the number of girlfriends an IIT grad has.

Though the fixed component of the salary is only 12 lakhs rupees, it is the variable component that has taken the overall CTC to the figure unheard of so far.

However, deviating from the universally acceptable practice of inflating CTC through variable components like stock benefits, performance bonuses etc, the company is offering variable pay dependent upon the number of inches an IIT graduate grows in height during an appraisal year.

“At the moment, we have finalized it at 1 crore per inch,” the HR of the company revealed. “However once the employee crosses 25 years of age it will be 2 crores for every inch of growth.”

Sources claim senior management of the company was really disheartened when they failed to grab media attention last year, despite offering a CTC of 1 cr.

Having learnt a lesson, the management made their HR mangers work overtime to come up with a scheme where they could offer the highest CTC ever and still are at the minimum risk of actually paying it.

However company’s CEO refuses to accept that it is just a gimmick.

“We want our employees to grow in life, professionally as well as physically, and we would be the happiest to reward them if they are able to do so,” the CEO told Faking News, negating speculations that it was virtually impossible for any employee to encash the variable component.

“After all being tall will help them to climb up the corporate ladder quickly,” he added.

The CEO further claimed that the company would do its best to provide an environment conducive for growth.

“To begin with the desktops, CPUs and coffee machines at workplace would be placed at a height higher than normal,” he said.

Students too are not complaining. They point to a case last year where a student with highest take home salary of all, failed to grab media attention as his CTC was near about same.

“Its much better to have some fame than money,” said a 3rd year grad and part time MTV Roadies aspirant.

Meanwhile as a result of this development, many parents were seen putting extra pressure on their children to start their IIT preparations early.

“I want my child to get into IIT by age of 10-11. This way by the time he is done with the course, he will still have some scope of growth in height,” one such parent told Faking News.