It's true that salary level is low.But the faculty gets more benefits. The main aspect is flexible timings,enough leave, carry out consultancy and their passion,.....In corporate this will not be possible. Also the faculty will not consider moving to corporate, except after retirement. The people who are really interested in teaching are never considered for an opening in IIMs and IIT's.It's all the degree holders from foreign universities are given berths and few opt for it since something is better than nothing. The IIM's should recruit working professionals as faculty so that the practical aspects are taught to the students.You can teach 25 papers but working in the corporate sector requires special skills. There are people working in IT companies having M.Phil degree but they are not selected by IIM's just because they dont have foreign degree. How does it matter? Practical knowledge is more important than bookish knowledge.The IIMs should give a separate advertisement for recruting people working in industries and idf they have at least 15 years experience they could be considered for Professor. The institute will gain. The governing body should consider this aspect also. It's the mindset the foreign degree alone is a boon and underestimating the persons who have done the degrees and working in India. Can we look forward to a new era in IIM's and IIT's? Infact management should not be taught but it should be through research. Can any IIM be a pioneer in this front? Time
