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Indian American Professor's Huge Salary Raises Controversy in the U.S.
Bangalore: The salary of an Indian American professor, Kannan Ramaswamy, at Thunderbird School of Global Management has raised controversy in the U.S, following the school’s decision to sell its campus in Arizona, reports Business Standard.
Even when the school is facing a major financial crisis and is amidst debts, most of the professors are paid huge amount as salary, inviting criticism from all around. Ramaswamy, received $700,096 as salary in the year 2011, which was more than the salary of the then President of the school, Angel Cabrera.
The school has a debt of 24 million and made a loss of $4 million, previous year; but surprisingly, the school pays more than 4 million to 10 of its professors. In 1990, the number of students admitted to MBA classes was 1,500, which reduced to just 390, in the current year.
About Ramaswamy's salary, the Fortune says: “It's not unusual for a world-class faculty to be paid so generously, but the highest paid business school professors tend to be widely known and publicly visible figures at universities that can afford them, not at a troubled school that has been in a long-term fight for survival’’, reports Business Standard.
