WTF?! In the latest bit of news illustrating why CEOs tend to be universally disliked, Deepinder Goyal, Chief Executive Officer of Indian restaurant booking and food delivery app Zomato, has posted a Chief of Staff position that not only doesn't pay a salary in the first year, but also warns candidates that they must pay $23,700 if they get the job. Goyal's rationale is that the role offers "10x more learning than a 2-year degree from a top management school." He also claims that 10,000 people have already applied – with some caveats.
Yesterday, Goyal posted on X that he was looking for candidates for a Chief of Staff position at Zomato. The posting states that not a lot of experience is needed as this is "not a conventional role with the usual perks that such jobs come with."
That unconventional part relates to the salary, or lack of one during the first year. Instead of being paid, the successful applicant must themselves pay the equivalent of $23,700 for the privilege. The money will be paid in the form of a direct donation to the Feeding India charity.
According to the ad, Zomato, which has a market cap of $27.9 billion, will prove that it isn't trying to save money by giving about $59,158 to a charity of the successful applicant's choosing.
Update: I am looking for a chief of staff for myself. pic.twitter.com/R4XPp3CefJ
– Deepinder Goyal (@deepigoyal) November 20, 2024
Even though this scheme will benefit charities, and Zomato will pay a salary in the second year, it's still pretty ridiculous. Zomato writes that people should apply for the job for the learning opportunity it presents, rather than for a "fancy well paying job which will make you look cool in front of yourself, or the people you want to impress." It's probably not for people who want to pay their rent or mortgages, or do something as extravagant as eat food, either.
The post closes by asking candidates to think of this as a fast-track learning program, noting that it wants "learners," not "resume builders."
Despite plenty of criticism on X, Goyal, who has a net worth of $1.7 billion, claims that 10,000 people have applied for this pay-now, earn-later role. However, these have been a mix of people who have over $20,000 available to pay for the position, those who have some of the money, those who say they have none of the money, and those who really don't have the money.
Update 2: we have over 10,000 applications, a lot of them well thought through, mixed between -
– Deepinder Goyal (@deepigoyal) November 21, 2024
1. Those who have all the money
2. Those who have some of the money
3. Those who say they don't have the money
4. Those who really don't have the money
We will be closing the... https://t.co/8a6XhgeOGk
Earlier this week, Infosys co-founder Narayana Murthy doubled down on his call for young people to work 70-hours every week, noting that he does not believe in work-life balance and really doesn't like having weekends off. A comment on Goyal's posts notes that Murthy looks like a saint compared to this scheme.
Food app CEO seeks unpaid chief of staff willing to pay $20,000 for the role
