Ranchi, Sept. 26: It is destination Ranchi for several former Indian Institute of Technology (IIT) students, who, in private tutorials, see an opportunity to supplement their income. And the coaching institutes are only too happy to oblige.

The institutes offer up to Rs 2.5 lakh a month to some of the former IITians who have even gone to the extent of switching to teaching as their career. Ranchi has over 20 engineering coaching centres and most have former IIT students as faculty members ? drawing a salary of at least Rs 15,000 per month. Besides, there are many visiting faculty members who charge on the basis of classes ranging from Rs 650 per hour to Rs 3,000 per hour.

Tarun Minz, a former student of IIT-Kharagpur, 1996-2000 batch, teaches chemistry in a coaching institute in the city for a ?handsome salary?. He has been teaching since he left Kharagpur. Before moving to Ranchi last year, he taught in an institute in Bhubaneswar.

Tarun says, ?It is the money that matters most. There is immense scope to rise high and earn more. Besides, there is freedom of expression and I derive complete job satisfaction.? He even plans to set up his own institute in future.

Pankaj, who is associated with a prominent coaching institute, says, ?The transformation of education sector into an industry in the last 4-5 years has resulted in many serious players joining the field who offer handsome salaries to teachers to provide quality education. As a result, good students of premier colleges have started taking it up as a career option.?

?Besides a lucrative salary at the time of joining, it also has scope for massive jumps in a couple of years. Though beginners get anything between Rs 15,000 and Rs 20,000, their salary normally multiplies in two years unlike normal industry where they get nominal hikes,? Pankaj says.

R.K. Priyadarshi, a former student of IIT-Delhi, 1992-96 batch, is also one of those who quit a regular job to take up teaching. On a trip to Ranchi, in 2001, he decided to quit his $ 3,500 per month salary job and set up a coaching institute ? Pen4Future ? with just 12 students. Today his institute has over 900 students and 32 teachers ? a majority of whom former IIT students. ?Many of the former IIT students are also earning handsomely by giving tuition at home,? says Priyadarshi.