The teaching staff of Nalanda University, an international institute whose chancellor is Nobel winner Amartya Sen, will draw an annual salary of $50,000-55,000 (around `30 lakh, at a fixed value of `55 to the dollar). The salaries are comparable to those of the Indian School of Business, where senior-most professors get between `24 lakh and `36 lakh a year.
“The package of faculty members is expected to be $50,000-55,000 (equivalent to `27.5 lakh to `30 lakh on a fixed dollar value of `55),” said Nalanda University vice-chancellor Gopa Sabharwal, who left for the US on Sunday to discuss the modalities of recruitment in accordance with international standards.
The university is set to start the recruitment process next month. For the two proposed schools — the school of historical sciences and the school of environment and ecology — that the university will start with, it has planned to hire around 20 people to teach for now.
After the appreciation of the dollar the university has kept the option of declaring the dollar price. “All South Asian universities do it, and so will we. Left to the international price of the dollar, it could play havoc with the university’s budget,” she said.
“I will visit Yale University, which will cooperate with Nalanda University, and the University of Illinois at Urbana-Champaign,” she said.