Why doing a PhD is often a waste of time

[jeffrey]

...There is an oversupply of PhDs. Although a doctorate is designed as training for a job in academia, the number of PhD positions is unrelated to the number of job openings. Meanwhile, business leaders complain about shortages of high-level skills, suggesting PhDs are not teaching the right things. The fiercest critics compare research doctorates to Ponzi or pyramid schemes...

Doctoral degrees: The disposable academic | The Economist

[krantcents]

Originally Posted by jeffrey

...There is an oversupply of PhDs. Although a doctorate is designed as training for a job in academia, the number of PhD positions is unrelated to the number of job openings. Meanwhile, business leaders complain about shortages of high-level skills, suggesting PhDs are not teaching the right things. The fiercest critics compare research doctorates to Ponzi or pyramid schemes...

Doctoral degrees: The disposable academic | The Economist

I was under the impression that a PhD was a teaching requirement in university/college. University/college jobs are hard to get because of budgeting issues. It will probably remain that way for a long time.

[snafu]

If you are adventurous and willing to teach/work in a foreign country, there are a lot of opportunities. In China the salaries appear low but benefits include nice apartments and there are so many lunch and dinner celebrations, you rarely need to buy food.

[elessar78]

My dad and my step-dad are both PhDs, but they are both in their 70s now. It was a different time back then. I feel like both did it for their attraction to their fields (Electrical Engineering and Economics), it wasn't just a means to an end.