The education market in India and the US

When I think of the education market in India, I see tremendous opportunity. Anyone with a bit of panache can make an absolute killing giving tuitions for 11th and 12th students, and for variety and recreation can teach engineering students part time. The kind of income one can make if one is keen easily surpasses what the best of MNCs can pay several times over. Of course, an important component of this income is from rent-seeking from several sources: the brands one flaunts on one's resume, the education bubble and the brands the crowd is after. Even charlatans who know little more than the contents of the last 10 years' question papers are highly sought after.

However, when I think of the education market in the US, my first thoughts are extremely pessimistic. High school teachers are paid a pittance compared to even the most regular 'decent' engineering job. There's no major tuitions market to speak of (maybe here and there for SAT, but I don't think one can think of it as a viable career option as here). The moment we get to universities, it's an absolute clusterfuck. Extremely talented, extremely hardworking people with PhDs and multiple years of experience shuttle around teaching part-time and barely eking out a living. One of the surest of certainties today is that a career in academia in the US is an absolute no-no except for exceptionally passionate people willing to sacrifice everything.

There is something wrong here. Either my understanding of one or both of the systems is wrong, or the market in India will cool down, or the one in the US will hot up. I feel the latter is not possible, and it doesn't fit the general trend that the US is 'ahead' in the saturation curve. Like a lot of what is hot in India, the market here is driven by caprices of regulation. What am I missing?
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