The professors of the prestigious IITs and IIMs may soon see a 200 % rise in their salaries. A committee formed by the HRD ministry has recommended raising the salaries of the professors of the IITs and the IIMs by 200%. This is done to bring them at par with the global standards and the professors will also be offered flexible pay packages.

 

The committee is expected to submit its recommendations within six months and the recommendations will be based on the norms laid down by the sixth pay commission. This is a step taken to help the prestigious institutions to pay properly to their faculty and also to encourage the professors, who otherwise move to private companies due to lack of adequate salary.