The Long and Winding Road to a PHD

THE LONG & WINDING ROAD T O A In the US, there are more than 20 million students enrolled in graduate school today. For many, the appeal of the 'life of the mind' - being buried in books and surrounded by the intellectual elite - is the ultimate fantasy. But many students setting foot on their new campuses for the first time are unaware of the severe drawbacks that await them. From the huge costs to the massive time investment and dismal job prospects, the road to a PhD is long, winding, and full of pitfalls - something the establishment would prefer you didn't know about. ΥΕΑ 1 21% 58% 440% of college grads currently go on to graduate or professional school. still receive financial the rise in tuition and fees over the support from parents. past 25 years - far outpacing rate of inflation and even medical costs. $11K - $29K MASTER'S DEGREE GRANTED YEAR 2 Teacher's assistants' (TAs) average annual income - hovering just above the poverty line while also studying full-time. >1/2 50% YEAR 3 of grad students drop out before receiving of engineering students say they're pursuing PhDs to put off job search or stay in school longer. LAW DEGREE GRANTED their PhDs. 10% 54% 67% YEAR 4 claim to have felt so depressed they had difficulty functioning. of grad students feel hopeless at least once in a year. considered MD GRANTED suicide. xx 12% ΥΕΛR 5 I'D TURN BACK IF Though most PhDs are technically 4-year programs, only 12% of humanities students receive theirs within 5. I WERE YOU! 50% YEAR 6-8 amount of science and engineering PhD students that are foreign-born. International students typically tolerate lower wages and longer hours. FINISH? NEARLY Student Loan Debt For 35\ Humanities Grads 50% Average age of PhD recipients of science and engineering PhDs do postdoctoral fellowships, or postdocs. They pay an average of $37k per year, take 3 or more years, and are often required for tenure-track positions in the sciences. 23% 1/2 of PhDs can find a tenure-track position after graduation, which are held by only 32% of college 14% instructors overall. PhDs Granted vs. Professorships Created Between 2004 - 2009 PhDs Jobs Available jobs will determine where you live, not you. 2-BODY PROBLEM +3% PhDs command only a 3% earnings premium over Master's degrees across all disciplines. PhDs in math, computing, social sciences, and language, earn the same as those with Master's degrees alone. If you entered a relationship during grad school, it is incredibly unlikely that both you and your significant other will be hired at the same PhDs in engineering and technology, education, and architecture earn less. university (if either of you gets hired anywhere, at all). Average Salary 6-10 Years After Achieving Highest Qualification 60K 40K 20K – Asia Europe USA PhDs E Non-PhDs For many, taking the long, winding road to a PhD is still a worthwhile pursuit, all things considered. But it is extremely important that you weigh all the downsides, difficulties and risks before committing to that first step. Created By ONLINEPHDPROGRAMS.NET References: http://www.100rsns.blogspot.com http://www.nature.com/news/2011/110420/full/472276a.html?success=true https://www.aamc.org/students/considering/exploring_medical/ http://www.asbmb.org/asbmbtoday/asbmbtoday_article_print.aspx?id38314 http://www.economist.com/node/17723223?story_id=17723223&CFID=157679668&CFTOKEN=82403941