Indian campuses get a foreign flavour
New universities are hiring faculty from overseas at salaries far above the industry average
As the higher education sector expands and prepares for the entry of foreign education providers, new universities, some as young as a year, are furiously hiring people from overseas on to faculty panels, for salaries far above industry average. The purpose, most universities admit, is two-pronged: one, to build their international appeal and credibility in the initial years; and two, to add ethnic diversity.
We realized there were two issues which were causing institutions, especially business schools, to hire white faculty on campus: lack of credibility and a limited faculty pool, since 10% of institutes in India have 90% of the best faculty available, says Jagmohan Bhanver, chief executive officer of the Indian Institute of Financial Management (IIFM), a business school with seven campuses in India. IIFM hired five foreign teachers this year.
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