Mumbai: IIT PhD's are regarded and considered as one of the best honors in the world. But competing this honors are the BTech schools who are bagging higher salaries than the IIT's PhD holders, specially who joined research labs or signed up for teaching positions, reports Hemali Chhapia of Times of India. The average salary for on campus selection candidates is 7 Lakh but for PhD candidates it is less than that.
There are many foreign Universities like Alfaisal University, Saudi Arabia, Texas A&M University and Indian School of Business, Hyderabad who visited IITs in last two years and paid salaries comparable to industry. Most of the IITs saw a fall in students coming up for teaching posts. At IIT-Kanpur, 45 students joined educational institutes last year and this year the number stood at 32. Most of the universities offered between Rs 3 lakh and Rs 6 lakh a year. This year, IITs saw a crowd as institutes like ICFAI, SRM University, Tamil Nadu; Saroj Education Group, Lovely Professional University, Rajiv Gandhi University of Knowledge, Vigyan University, K L University and Manipal University took a handful of students.
In IIT-Kharagpur 67 master's students and 15 PhD candidates took up teaching jobs this year. However the placement officer of IIT-Delhi said that it probably wasn't correct to compare the salaries of BTechs, MTechs and PhDs as they all took up varied job profiles. However the average MTech and PhD salary is lower than the average BTech salary in India. But when we take the ratio of average starting salary of graduates to masters and doctorates of MIT, USA and University of Illinois Urbana Champaign, U.S. shows that the average masters' salary is 22-26 percent higher than the bachelors and the doctorates' salary is 45-58 percent higher than the bachelors'.
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