I was shocked to know that in a rich country like Canada,
And this is postdoc, not Phd. Think of the wasted years!... 80% of postdocs earn $38,600 or less per year before tax—the average salary of a construction worker.
It does not look any good for the only superpower in the South as
And the reason the article cites isonly 57% of doctoral students will have a PhD ten years after their first date of enrolment.
That much for the superpower.Research at one American university found that those who finish are no cleverer than those who do not. Poor supervision, bad job prospects or lack of money cause them to run out of steam.
Europe does not fair any better. The top gun Germany too has its problems as reflected by these statements.
... About one-third of Austria’s PhD graduates take jobs unrelated to their degrees. In Germany 13% of all PhD graduates end up in lowly occupations. In the Netherlands the proportion is 21%.
So how much will you earn more after doing your Phd and what is the difference to your bank balance if you had joined the workforce as a Master's student rather than having spent five years in a Phd? Here is the bleak answer.
...The earnings premium for a PhD is 26%. But the premium for a master’s degree, which can be accomplished in as little as one year, is almost as high, at 23%.
And the one that touched me the most was this one.
...Writing lab reports, giving academic presentations and conducting six-month literature reviews can be surprisingly unhelpful in a world where technical knowledge has to be assimilated quickly and presented simply to a wide audience.
Having read the article in full, am having some not so good thoughts. Care to clear a few?