There are many Youngesters who would like to join the teaching profession despite their academic excellence. It signifies their passion for this particular profession. They come across the oppurtunities where they could have joined either Soft- ware industries or the manufacturing industries but they remained confined to the teaching jobs in the Engineering - colleges because of their attachement.
With respect to the salary of a professor engaged in teaching in a constituent college, it may range from 1.25 lacks to 1.75 lacks depending upon one's experience and qualification.
In order to have a satisfying career in the teaching line in an engineering college, I would recommend you the following points-
1) Appear for the GATE examination and an excellent percentile in the same would pave the way for M.tech from a coveted Institute such as IIT or from a premier Engineering - college.
2) you may also try for NET examination and after clearance of the same, you would be eligible for teaching job in the Engineering college.
3) Higher is the qualification such as Doctorate - degree in a particular stream would accelerate your promotion - prospects in a constituent Engineering college.
4) In future, opt for constituent college rather than the private one in order to maximise your earnings.
5) Consider the environment which you would enjoy in a college and such environment is absent in an Industry.
In relation to your last query, you may look for the institution where there is the provision of continuance of your studies of M.Tech in evening classes. Such classes would suit to you if you are already in the job.