Long before 3 Idiots became a record-smashing hit, Chetan Bhagat was a banker with a side passion for storytelling. His debut novel Five Point Someone (2004) changed that trajectory, eventually catching the attention of filmmakers and opening doors that would lead him away from finance and into full-time writing.In a recent conversation with Kushal Lodha on his podcast, Bhagat reflected on how selling the film rights to 3 Idiots turned into a defining moment in his career — both creatively and financially. He revealed that he was paid Rs 1 lakh upfront, with an additional Rs 10 lakh bonus promised upon the film’s success. “We had settled for a Rs 1 lakh contract for 3 Idiots, with an agreement of a Rs 10 lakh bonus. And after the success of the film, they did give me the bonus,” he shared.While 3 Idiots, made on a Rs 55 crore budget, went on to gross over Rs 350 crore worldwide, Bhagat’s total earnings were Rs 11 lakh. But the author says he has no regrets.“I was pretty new then. Later, such rights were sold for crores. But when I sold the rights, I didn’t even know if the film would ever be made—it was an unconventional story. Nobody imagined Aamir Khan would do it. So I think, at that time, I was paid fairly. I know it sounds small compared to what the film made, but it was fair for the situation,” Bhagat said.
‘Compared to actor fees, my deal made sense then’
Bhagat recalled that back in 2005, when the deal was struck, author rights were nowhere near as lucrative as they are today. “Vidhu Vinod Chopra was also making Parineeta then. I can’t confirm the numbers, but I was told Saif Ali Khan, the lead actor, was being paid Rs 25 lakh. So comparatively, Rs 11 lakh for a successful film seemed fair,” he said.He also mentioned that Five Point Someone had already found a readership by the time he sold the rights. “The book came out in 2004, I sold the rights in 2005, and the movie released in 2009. I was still working at a bank then,” he added.
‘I always choose fixed payments over profit-sharing’
Having later seen several of his books adapted for the screen, including 2 States and Half Girlfriend, Bhagat explained why he prefers one-time payments instead of revenue-sharing models. “You sell the rights for a fixed amount. You get part of it in advance, another part when the studio greenlights the project, and the rest before release. It’s a fixed payment,” he explained.He added, “It’s better to discuss money upfront rather than fall for variables. Most production houses are private companies, and even if the film profits, they often show it as a loss. With my finance background, I have always preferred fixed payments over variable ones.” Giving insight into the mechanics of adaptation deals, Bhagat said, “When you sell the rights, it’s usually for three years. If they don’t make the film in that time, the rights revert to you. Often, if they do proceed, they pay you more, and then the rights remain with them permanently.”
