Toni
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- Joined
- Aug 10, 2011
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- Basic Beliefs
- Peace on Earth, goodwill towards all
Usually isn't always. Back when my husband was doing his PhD, he had a very modest stipend and we scraped by because I was working full time. Last I looked at stipends, they were still pretty modest but you could live on them--carefully.
Truth is that if I were to get a PhD tomorrow and take a tenure track position (assuming I could find one) I would most likely earn less than I do now. Which is why I haven't been able to talk a fairly brilliant coworker into doing just that. Too many years deferred income for not much pay off.
Usually as in essentially always. It's been my experience that being accepted into a PhD program without a tuition waiver and a stipend is tantamount to being rejected. Schools might occasionally send out acceptances without support as a sort of system of alternates, in their view it's a low investment for a decent gain once attrition among the supported grad students starts to take its toll...
Of course, no one goes into academics for the money, but that's besides the point. The standard advice is to only do a PhD if you can't imagine doing anything else. The income data is clear, even a supported PhD with no loans is a negative lifetime monetary investment - the loss of 5+ years of income with all of its assorted raises, compounded, is too much to overcome.
And you have just articulated the reason that there are very few young adults going into graduate school today. Look at groups which are typically under represented in Ph.D. programs and then multiply those reasons by a factor of at least 10. I see why people choose the secure career with money vs long years of delayed earnings and then very uncertain careers, often with positions tied to the ability to attract grant money and all of the strings attached.
We need to re-think this. Seriously.