At a time when several educational institutions, even the top-notch ones, are complaining of a severe shortage of lecturers, a study has found that professors in the country take home the largest pay packet among BRIC (Brazil, Russia, India and China) nations.
The study, conducted by the Center for International Higher Education, Boston, and the Higher School of Economics, Moscow as well as published in a book, Paying the professoriate — A Global Comparison of Compensation and Contracts, that was released recently, compared salaries of professors from 28 countries on the basis of the purchasing power parity (PPP) and found that the entry-level salary (that of an assistant professor in PPP terms) in India is $3,954. Peers in China, Russia and Brazil earn $259, $433 and $1,858, respectively.
Hold your horses, though. The salary in India is less than that in the US ($4,950) and in Canada ($5,733), which topped the list.
The study also found that full-time academicians in India live comfortably like their peers in the US, the UK, Germany and Australia. On an average, they make $6,070 a month. The study, whose sample size comprised teachers from only government and aided institutions, adds that salaries for higher entry-levels in India are attracting a younger talent pool — a feat that the US and the UK have reportedly been unable to replicate.
Madhu Nair, dean of faculty of commerce at the University of Mumbai, takes the findings, especially of the low PPP in China, with a pinch of salt. He, however, supports high salaries for teachers. “It (A high salary) is justified as a teacher’s future prospects are very limited as compared to those of people in other professions.”
The planning commission is reportedly using this study to chalk out a comprehensive plan to fill vacancies on campuses.