IIM-L To Link Faculty Pay To Research

The Indian Institute of Management, Lucknow (IIM-L) is set to shift to a compensation system aimed at boosting research. Under the new system, faculty compensation will have fixed and variable components, with the latter based on performance. The aim is to incentivise research, an area where IIMs score poorly in global rankings.The institute will take the in-principle decision to change its pay structure once it receives government clearances. The variable component will equalise salaries of faculty who do external consultancy and those who don’t. The performance-based variable part will be over and above the fixed salary. IIM Ahmedabad and IIM Indore have decided to stick to the current structure despite enabling action by the Human Resource Development Ministry. IIM Calcutta is yet to submit a proposal while the ministry has not made the change for IIM Lucknow and IIM Bangalore.

Source : Financial Chronicle