With edtech firms eyeing the offline coaching industry, cities such as Kota, Delhi and Hyderabad are scouting for experienced teachers.
Edtech firms and coaching institutes are promising to double or triple the salaries of teachers and sign five-year contracts. Some are even ready to pay an advance salary of three years to rob talent.
In demand are teachers who have 10 -15 years of experience in helping students crack engineering and medical entrance exams. Some are so popular that institutions fear their departure could lead to an exodus of students.
“Teachers are being hired at three times their previous salary, or are offered attractive joining bonuses. The really famous people are signing five-year contracts with the assurance of job security. Coaching centers are worried that edtech companies will take their best teachers and students will follow them,” said a senior executive of a leading coaching firm in Kota.
Mint has learned that edtech firm Unacademy is offering teachers double the salary from quota, sometimes 2.5-3 years’ salary in advance. Annual salary for teachers in coaching institutes generally varies 10 lakh and can make between 25 million, and popular 50 lakh and 1 crore. Some even partner in their coaching centers and take home a portion of the revenue.
Unacademy has said that it will open its first center in Kota in June, followed by Jaipur, Bengaluru, Chandigarh, Ahmedabad, Patna, Pune and Delhi. As the pandemic ceases to develop and students return to physical classroom settings, large edtech companies such as Vedantu and Byju’s have also announced their entry into offline learning. All three did not respond to questions sent to Mint on Saturday.
In a sign that the fight for teaching talent has reached a climax, Brajesh Maheshwari, director and co-founder of test preparation center Allen Career Institute, warned his teachers in a video clip last week that if they were to join If so, they can be “blacklisted”. other organizations. “When teachers leave in the middle of the session, it leaves students in a state of confusion and turmoil. These young minds come to us from all corners of the country, leaving their families behind. It is the professional and ethical responsibility of teachers to do their job honestly and not to be misled by money, Naveen Maheshwari, Director, Allen Career Institute said in an interview. had decided to quit the job, they were being threatened. “We have a strong faculty and administration staff of around 10,000. The message was not perceived in the right context. No one was threatened,” Maheshwari said. Told.
One of the leading coaching centers in Kota held meetings last week, assuring its teaching staff of career growth and opportunities. But, wary of quitting, even online firms are trying to adapt. Deepak Jha, founder and CEO, online learning platform GuruShiksha, said, “One of the unique initiatives we have taken after the pandemic is the offer of weekly payments for teachers as compared to offline education centres. “For full time teachers, we are offering 30- 35% hike on joining. We have also started onboarding teachers on contract basis, for which we are paying 700 per hour for a 3-4 hour long class, said the CEO of the Delhi-based centre.