Well, I have gone through the exchanges that happened for this query. Let me make a point clear.
Your question was, 'what is the salary of an HR professor?' If so, it has to be as per the prescribed norms of AICTE or UGC in India.
Some private institutions not affiliated with any of these fix salaries as they wish, sometimes far below or far above. There are different criteria to be looked into in this.
1) Entry-level MBA/PGDBA graduate without experience can be considered for a Lecturer.
2) Middle-level MBA/PGDBA grad with 2-3 years of teaching experience can be a Senior Lecturer.
3) MBA/PGDBA candidate with 2-3 years of teaching as well as 5-10 years of corporate experience can be an Assistant Professor/Professor.
4) MBA/PGDBA with MPhil/PhD and 10-20 years of total experience in the relevant field can be an Assistant Professor/Professor/Reader/Head/DEAN.
So one has to study the norms prescribed for the management school and rate on the parameters. In any case, a disparity of salary would not exist on the scale and gradation within a College/University administration.
For more details, please search for 'Pay scale, University teachers, management school, AICTE, UGC.' The expected salary of a Professor cannot be discussed with a flat 20% hike just like that of a company salary.
You have to see where do you fit in the teaching pedagogy, as Assistant Professor or Professor. Hope I have given an overview.
Regards, Chandru