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Why doing a PhD is often a waste of time

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    Why doing a PhD is often a waste of time

    ...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

    #2
    Originally posted by jeffrey View Post
    ...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.

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      #3
      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.

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        #4
        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.

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