<p>Well, I don't know about that. To even get hired at a management consulting job, you need a certain personality and a certain look (those in MC should know exactly what I'm talking about), and let's just say that it's far far different from the personality and look that most aspiring academics have. The point is, it's certainly not automatic by any means. Believe me, management consulting companies reject BOATLOADS of people with perfect grades, because they didn't have the right look (and yet at the same time will hire people whose commitment to academics was rather dubious, but had the right look). </p>
<p>I would also have to come back to my idea of getting a PhD in business. Think of it this way. Let's say you get a PhD in business, but then you can't get a decent tenure-track assistant job. Then you can just turn around and get a job in consulting or, especially if your PhD was in finance/accouting, in banking. [Some of you might be thinking that I just said that you need the right look to get into consulting, but as I explained, if you don't have the right look, then you were never going to be hired as a consultant after undergrad anyway, so that means you're not really losing much by getting your PhD] By getting into consulting/banking right after your PhD, you'd be coming in at the associate level - the same level as those who just got their MBA's. </p>
<p>So consider the two lifestyle tracks. #1 - you get your PhD in business, and make a small stipend during those 4-5 years (most PhD business programs are last 5 years or less). #2 - you go to consulting/banking right after undergrad, make good money for 2-3 years, but then using it all up in getting your MBA. Hence, it seems to me that it's a wash. </p>
<p>Furthermore, if you get into a PhD business program and you find out you really don't like the academic lifestyle, if you play your cards right, you may be able to swing a 'consolation MBA'. That's not a bad deal. </p>
<p>I do agree with you that quite a lot of profs end up as gypsy lecturers or in other such adjunct positions. To that, I would say that if you find yourself in that position, you should know that you're probably not going to land tenure. If you still want to teach, then keep doing what you're doing, but you ought to know that you're not going to make it to the promised land. It's like all those guys who get hired into investment banking or management consulting and quickly realize that it's not for them. Or the guy fresh out of law school who joins a big-league law firm and quickly realizes that he doesn't have what it takes to make partner. In all of these cases, clearly a change is probably in order. That adjunct lecturer should then start looking into getting into management consulting, if he has the look (and, again, if he doesn't have the look, then he didn't really give anything up by getting his PhD anyway). </p>
<p>The point is, I'm not sure I can drum up a whole lot of sympathy for those gypsy scholars. They choose to stay. They are free to leave academia and get 'regular' jobs anytime they want. Not everybody gets to make it to the top, whether it's in academia, or consulting, or banking, or any other field. If you degrees are in something marketable like engineering, accounting, finance, computer science, or whatever, then you should be able to find yourself at least a half-decent job in the private sector. If you choose to study something that is not marketable, well...</p>
<p>However, as far as teachers (not profs, but teachers) is concerned, the rules vary from state to state, but generally, a teacher can expect to get tenured in 3-5 years, and after that, the teacher is basically unfireable. And at that point, I would say that the job is pretty easy. It's not terribly lucrative, but it is pretty easy. Again, I would point to the very large blocks of time that teachers get off - and teachers don't do research during the summer, so that summer is all theirs. Furthermore, as a teacher, you are practically unfireable, which is something that millions of Americans wish was true of their jobs. I agree that if you're dedicated to becoming a good teacher, then yes, it is hard. But if you don't really care, if you're happy just to coast, then I would say that it's a pretty easy job. Yes, you're going to get annoying kids who don't want to be there, and parents who give you garbage, but if you know that you're not going to be fired unless you do something egregious, and you're content in just doing the bare minimum to keep yourself from getting fired, then it's a pretty easy job. In most jobs, if you do the bare minimum required, you are probably going to get fired. Heck, at most jobs, you could be the best worker in the whole company and STILL get fired. The point is, that job security that tenured teachers have is a very sweet deal.</p>