To cope with pay cuts IT executives look for alternatives

Executives who have faced pay cuts due to the current slowdown are seeking comfort in the four walls of school. As professionals queue up to teach in B-schools and other institutes, education is one sector that���s clearly making the most of the downturn.

���We have seen a perceptible increase in the number of applications from working professionals, who now want to take up teaching assignments or be visiting faculties at our college,��� said Indu Shahani, principal of HR College and Mumbai sheriff.

With pay cuts coming in and increasing uncertainty regarding jobs, working professionals are looking at alternatives to supplement their income. Teaching provides enough flexibility in terms of time and involvement. The remuneration for visiting faculty varies from Rs 1,000-2,500 per session, depending on the nature of the institute and the teacher���s qualifications. Says Suraj Sood, joint chairperson, centre of family business, SP Jain College, ���We have seen a 15-20% jump in the number of applications for visiting faculties in the past couple of months.���

Typically, people look at sectors that are least likely to be affected by an economic downturn. Education comes closest to being a relatively recession-proof sector. This explains the jump in faculty applications.




Applications from people interested in taking up teaching assignments at coaching classes run by the Institute of Company Secretaries of India too have witnessed a jump. ���In the past three to four months, we have seen double the number of applications we typically receive from people interested in being visiting faculties in our coaching centre,��� said RT Rajguroo, chairman, Thane branch of the institute.

Some people from the financial services industry, who have lost their jobs in the current slowdown, have chosen education as their next employment. ���Two of our employees, who lost their jobs in our recent downsizing, have joined reputed B-schools of the city,��� says the HR manager of a Mumbai-based listed broking house.

However, not all B-schools are reporting a similar experience. ���We typically receive 10-15 applications from people wanting to be visiting faculties at our school. But this number has fairly remained constant, even during the past