Why do PhD – ‘Value and Criticism’

by phdscam

This is the original wikipedia link. What is so great about PhD?

Research by Casey suggests that, over all subjects, PhDs provide an earnings premium of 26%, but notes that masters degrees provide a premium of 23% already.

In other words, PhD is giant waste of time – sets you back by 6 years or more. Not only that it can make you unemployable.

In Canada, where the overflow of PhD degree holders is not as severe, 80% of postdoctoral research fellows earn less than or equal to the average construction worker (roughly $38,000 a year) during their postdoctoral research tenure.

What is return on investments here? Yet, these dismal numbers dont discourage some to go for postdoctoral path. This makes as much sense as fighting a lost battle.