Reply to Do people who do PhDs realize that they aren’t worth the time?

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[quote=Anonymous]There are absolutely people who go to PhD programs without realizing how few jobs there are available in their chosen field and they don't really adjust to the market to increase their odds.  If they don't have a fallback option they can end up as an itinerant lecturer, moving from school to school every year on one year or one semester gigs and then from school to school in a city where they get paid by the credit hour and can barely make ends meet.  One of the reasons you see lecturers unions rising in power and numbers is because universities are replacing retiring faculty with an endless stream of visitors, adjunct lecturers, and part-timers, none of whom get paid or treated very well.  Moreover, the end result is less likely that lecturers will get paid better, but as the gap between the pay of lecturers and professors narrow, they'll hire a few more regular professors and make them teach a lot more for not as much pay growth and leave most itinerant lecturers without even that as an option.

That's why you see more and more teachers with PhDs hired at private high schools.  It's more stable and they weren't getting to do research anyway.  It's also why you see fewer applications for grad students in the more academia-focused PhD programs at lesser schools.  Students are more and more aware of the odds and departments are doing a better job of educating PhD applicants about what jobs they can do with their degree outside of the ivory tower.

This is not exactly unique to academics though.  Top people succeed in lots of things, while average and below do not.  2022 was the year of the union in the tech industry and you're starting to see computer science grads unionizing in fields like video games etc that are notorious for abusing their employees.  This generation's influx of computer science grads will find their job prospects capped out and replaced with cheaper labor.

The opportunity cost of getting a PhD is not unique either. There's a form of opportunity cost to getting a job straight out of college too.  Once you've worked in an industry for awhile, it's really hard to truly train for a new one.  You often are in a different place in your life family-wise and you can't afford to go back to school or take a cheaper job while you re-tool.  Plus, there's a lot of bias against hiring people who are coming to new careers later in life.

Having said all of that depressing stuff, the lesson is that if you can do something you like, that fulfills you, and doesn't leave you destitute, that's kind of priceless.  You certainly don't want to live your life regretting you didn't try something you were really passionate about.  Many of the people on this board are so prestige driven because they are living lives of the proverbial "quiet desperation."

BUT, If you're doing a PhD, the kinder, gentler sentiment behind the OP's condescending and insecure post is be practical about the field, the package they're offering while you're in school, and the cost of living at that place.  And have a realistic fall-back for the PhD that is not being a professor. [/quote]

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