According to the recommendations of the sixth pay commission, Indian Institute of Management (IIM) faculty do stand to benefit to a large extent as far as salary is concerned. Professors and assistant professors are due to get arrears for three years amounting to Rs 8 lakhs and Rs 5 lakhs and salaries are also scheduled to increase by 30 percent. Middle and senior level IIM faculty usually involve themselves in additional income generating activities such as research and consultancy. Prof Ganesh Prabhu, former placements chairman at IIM Bangalore explains, For a person who has completed his PhD and is in two minds about entering academics, the entry level salary does play a big role in his decision. The corporate sector will provide a higher pay scale at that stage. People who spend two-three years in academics usually continue in the field. It is at the entry level that salary levels should be increased.
Teachers are looking at things in a positive light. Prof Devi Singh, IIM Lucknow Director comments, Salary is not the only issue which stops people from getting into academics. The sixth pay commission will definitely make things better.
It is important that the government does justice to the teaching profession. The pay commissions recommendations have come through for government employees and university staff. It is only fair that salary levels should not stop quality people from coming into the IIMs and teaching MBAs who grab headline grabbing salaries. The entry level salary for an IIM professor is currently in the range of Rs 3 lakhs while at that stage the corporate sector would offer Rs 6 lakhs and above.
School teachers have protested the delay in increasing salaries and have been openly protesting the shoddy way in which this matter is being handled. As Prof Anand Kuttan, Admissions chairman at IIM Kozhikode says, We were expecting to be included either with central government employees or university staff for whom salary was increased in August. However, the militancy of the school teachers has not carried forward to IIM faculty who are of course lesser in number.