Young Faculty Award (YFA) Program
To attract top-notch young faculty to IIT Bombay and nurture their development in supporting IIT Bombay’s "Tryst with Excellence" and continued global technological leadership.
IIT Bombay and all the IITs are facing a severe faculty shortage and some reports suggests that one-third of the teaching posts at the IITs and NITs are lying vacant. By 2014, IIT Bombay will reach its expected maximum capacity of 8000 students and by then it would have to ensure that there are enough faculty members to maintain a healthy student-teacher ratio. By helping IIT Bombay recruit faculty and by enhancing the quality of the incoming faculty, alumni can have a direct impact on the critical mission of faculty recruiment.
IIT Bombay is undergoing this rapid growth phase even as other institutions in India and abroad are planning to expand too. This creates significant challenges in attracting faculty to IIT Bombay. Given the current hiring spurt, the YFA program can have a substantial long-lasting impact on IIT Bombay and its faculty profile. YFA awards can ensure that IIT Bombay offers a competitive package to achieve better results in recruitment.
The YFA program awards a grant Rs. 1 lakh per year for up to 3 years to recruited faculty members. Since the average salary of an assistant professor is currently around Rs. 2-3 lakhs, the planned disbursement of 1 lakh for the first three years is a significant incentive to the prospective faculty.
YFA is an alumni aided initiative whose implementation is carried out by IITB in close consultation with LAC (Legacy Advisory Committee) comprising of alumni drawn from academia and fund managers.
IIT BOMBAY Fund Utilization Reports: 2005-06 | 2006-07 | 2007-08 | 2008-09
IITBHF: Annual Report | IRS Form 990
Frequently Asked Questions (FAQs)