Are there too many PhDs? | Mendeley Blog
In the U.S., we are constantly hearing about how the country is falling behind in science. We need more scientists to fill all of those jobs we want to create. And the cure to that is to fund more PhD programs! Yet, when you ask graduate students and postdoctoral scholars what their individual experiences are, a science career is a very tough road with low pay and few career prospects. It’s such a tough path that an entire PhD comic stripwas born to alleviate the situation with laughter. Why then, is there such a disconnect?
As a friend of mine, who has worked for two decades in both academia and industry, recently put it, “it’s a Ponzi scheme” (name withheld to protect his job). Large corporations and universities need a lot of workers to meet their objectives. While conspiracy theories abound over biopharma lobbying the government for more PhDs with the secret ambition to lower wages, it doesn’t seem too far-fetched. Universities need grad students and postdocs to churn out the papers that bring in grant money for the professors. While that is a well-established tradition going on for more than a century, what is different now is how we are attracting students into science careers. With tuition paid-in-full PhD programs and benefits as a graduate student, many who would normally not enter science are lured in. Reality usually hits after the second year, in which qualification exams to continue in the programs are taken. Only then, do students realize the road that lies ahead is dotted with pit stops leading, not to Nobel glory, but a journeyman career with salaries well below that of their friends who went into business, law, or medicine. With a PhD, a postdoc can expect to start, at most, US $42K a year in academia and $52K in industry.
