You are probably interested in the first thing that everyone focuses on — the ‘pay package.’ Fortunately, it is also the easiest to address.
Here’s the bottomline: IIXs are among the best in the public sector. They beat private academic institutions handily. With job security, autonomy, sabbaticals and the summer months off, they are competitive with private industry as well. With the option to consult for industry, you’ll have to wonder if a non-IIX job is even worth considering!
That's me arguing why, for the academically oriented folks, IIT faculty jobs are still the best in India. This piece appeared in the latest issue (pdf) of The Scholars' Avenue, IIT-KGP's campus newspaper.
Many thanks to A.V.N. Murthy (and his colleagues on editorial team) for asking me to put together my thoughts on the issue of IIT faculty salaries.