I would do a PhD if they paid me enough. I don't mind if I cannot find a job that pays well with a PhD (I actually don't need a PhD for that); I would do the PhD because I like doing research. What would bother me is to spent ~4-5 years without a decent income. The scholarships here in western europe are just too low, and I cannot justify not working for private companies in favor or pursuing a PhD during ~4-5 years
consider Switzerland. PhD salary is around the range of 80k CHF. It's not bad at all.
Fewer students are enrolling in doctoral degrees
441–450 of 485 posts
Re: Fewer students are enrolling in doctoral degrees
#442People seem to be getting stuck on the PhD opportunity cost piece for STEM. The matter of fact is that Americans don't do PhDs in STEM: if you look at the top schools and top departments, they are 70-90% international students. The PhD then is a phenomenal deal: by and large people are coming from places where FAANG jobs don't just fall on your lap at SF salaries. You get a free education in the US, and can jump stra…
Your numbers are way off…number of American citizen or permanent resident divided by number of doctorates awarded: 35,566 / 57862 = 61.5% (overall) 26,622 / 45,533 = 58.5% (stem PhDs) Survey of earned doctorates, national center for educational statistics, 2023 data…very useful, as are many of the data products the federal government collects, for however long this is up https://ncses.nsf.gov/surveys/earned-doctorate…
Also thanks for finding this data, didn't know it existed!
Re: Fewer students are enrolling in doctoral degrees
#443Earlier quoted context omitted.
This is more accurate. The productive fraction of professors still follow the Pareto principle or 80/20 rule. And even then, these professors aggregate into the elite institutions making it even more skewed. To get an academic position, you need to have a star advisor either for your degree or postdoc.
I think it was The Atlantic a few years back that ran the numbers on professors and their PhD alma maters. But I can't find the article, so please accept my bad recollection. Essentially, in nearly all of the humanities, if you did not go to a top 10 PhD program, you had a 0% chance of getting tenure. Not 'like' a 0% chance, an actual 0%. There are no professors at all, anywhere in the US, in nearly all the humanitie…
Re: Fewer students are enrolling in doctoral degrees
#444Earlier quoted context omitted.
When I was in graduate school the chances of getting a tenured position weren't anywhere close to 1 in 3. Where are you getting that number?
Roughly speaking, there are 10-20 PhDs for every faculty position. But not every PhD wants a faculty position, even in principle. Many want to do research in the industry, or in public research labs. Many do a PhD because it opens doors in other careers, such as medicine or education. Some PhDs are hobby projects people do in retirement. Some are side projects for people who want to study something relevant to their…
Re: Fewer students are enrolling in doctoral degrees
#445Earlier quoted context omitted.
In reality the system is already breaking down bc so few people pay into the pension system for so many old pensioners. Idk about Norway tbh - they seem to have a much more solid social system - but in Germany I don’t expect anything from the pension system in 2060+
Norway’s pension is backed by $1.74T in sovereign wealth funds [1]. I doubt they’ll have the same issues as Germany. [1] https://en.wikipedia.org/wiki/Government_Pension_Fund_of_Nor...
Re: Fewer students are enrolling in doctoral degrees
#446Earlier quoted context omitted.
That sounds awfully generic. It doesn't sound that different from a Master's (heck, maybe even an undergrad) program that requires a thesis. Yes, there's a difference in the sense of supposedly doing novel research, but I'm not sure the degree to which you're theoretically moving the state of the art forward justifies your time investment in many cases.
You don't really learn how to learn in a masters or undergraduate. You learn how to consume information, but not how to research new things, validate those and defend it to others in a rigorous way. Whether it's worth the investment depends on ones goals in life.
Re: Fewer students are enrolling in doctoral degrees
#447Earlier quoted context omitted.
Roughly speaking, there are 10-20 PhDs for every faculty position. But not every PhD wants a faculty position, even in principle. Many want to do research in the industry, or in public research labs. Many do a PhD because it opens doors in other careers, such as medicine or education. Some PhDs are hobby projects people do in retirement. Some are side projects for people who want to study something relevant to their…
Most of my classmates would have been very interested in an academic career if they thought their chances were even one in ten and this was in a top tier program. And they were all totally willing to relocate too.
It's important to understand that in this context, willingness to relocate means willingness to spend your life outside your home country. Even in a large country like the US, there are often structural reasons why universities are not interested in hiring someone like you when you are in the job market.
For example, maybe a field such as ML starts getting popular. Universities respond by hiring new faculty, who in turn hire new PhD students. Almost a decade later, when those students have graduated and are in the job market, the demand may have stablized. Universities already have a plenty of faculty in that field and have little interest in hiring more.
Which means that if you chose a popular field, your chances of getting hired may be below the average. If you want to stay in the academia, your best bet may be moving to a country that didn't experience a similar hiring frenzy and is now trying to catch up.
Re: Fewer students are enrolling in doctoral degrees
#448Earlier quoted context omitted.
Being in the right place at the right time with the right connections and not having your equity diluted helps. There are plenty of “smart” people who aren’t rich.
I live in New Orleans. I went to the same school he did. Thank you for conveying my point.
Re: Fewer students are enrolling in doctoral degrees
#449Earlier quoted context omitted.
Reading a biography mostly informed me about the lack of general empathy, remorse, sympathy. Only regret came forward a little (and only once). > be crazy enough to bet it all Anyone who doesn't suffer any real consequences. Having parents with a lot of money makes it not matter all that much. As for the other bad decisions; it doesn't really show much positive except maybe persistence, but persistence in a vacuum is…
> Anyone who doesn't suffer any real consequences. Having parents with a lot of money makes it not matter all that much. You're not going to starve in America if you lose all your money. Besides, Elon's dad at one point invested in Elon's company. Elon was already a success in business by then. From $20,000, he became the richest man in the world. All by luck! Pretty amazing! Me, I could scrape up $20,000. Could I tu…
claim, meet data: https://pmc.ncbi.nlm.nih.gov/articles/PMC10990269/#:~:text=%...
Re: Fewer students are enrolling in doctoral degrees
#450Earlier quoted context omitted.
But can you still get $125k directly after undergrad? How many employers are willing to pay 2x the median wage to someone with no experience and no demonstrated skills, simply because they went to a school? To someone who is likely to make a net negative contribution until they learn how things work and require less guidance? To someone who is at a high risk of taking another job after a couple of years? It's more co…
FAANG or some company in a high-rent area where you could most definitely not save that kind of money, as far as I know. And, I love how making $125K is some sort of great salary. I live in MN and while it’s above the median HHI for the state, it’s by no means a comfortable enough wage to save that kind of money unless your housing is covered by family or something. Here in the MSP metro, you’re looking at $2500/mo f…