[A2A] No. You are not missing anything. I would suggest that you give academia a miss in India, if you find the salaries depressing.
I do not want to live in Bombay or to eat in a decent restaurant in Bombay, so, for me it is alright. It is more important for me to have freedom, which is impossible in corporate setting. It is more important for me to have 5 minute commute, which is almost impossible in a corporate setting. It is more important for me to have pollution free living in campus, which is almost impossible in a corporate setting. It is more important for me to teach good students, which are hard to find in IITs, what to speak of private colleges.
If you value money and comforts so much, I would suggest you look for another profession. It will be much more satisfying to you. I am not being sarcastic. Different things are important to different people. So, I don't think you will be happy in this job.
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