<p>Academia is a career path one should choose out of pure passion, not out of a desire to make money or impress people. It’s a tough row to hoe.</p>
<p>Of course, just because you start down that path doesn’t mean you have to stay on it forever – you can be a grad student in science and go on to a position in consulting, or in industry.</p>
<p>Also, as far as salary goes, YMMV by field. I know I’m making about 33% more than the grad student stipend quoted, which is a completely livable salary even in Boston.</p>
<p>My other grad student friend has been telling me that pure passion isn’t enough for this field, either. You have to <em>really</em> enjoy the nitty gritty of it, solving each problem that comes to you no matter how trivial or mechanical. There’s so much of that that there’s really no way to survive w/o it.</p>
<p>It’s easy to say, “sure, yeah, you can switch out whenever you can”, but is it truly a viable option? Getting employment with a PhD from a top school in consulting can be tougher than just getting a consulting/iBanking job from HYPSM… with a bachelor. Then, all you are doing by pursuing higher education is shooting yourself in the foot, and not get the career you want.</p>
<p>I think worse than that you get trapped in the mentality of “how much time have I invested in this already?”, the farther along you go the harder it is to turn back. Sure the practical solution is to cut your losses and drop whatever it is that isn’t working, but it’s easier said than done.</p>
<p>Well, I don’t know much about consulting. But in my field, industry positions (biotech/pharma) are definitely available.</p>
<p>If you get a PhD in a technical field from a top program, you will have a job. It may not be a professorship at an R01, but getting a PhD in a technical field puts you in a very different situation from getting a PhD in a humanities field.</p>
<p>While the linked-to article raises some very pertinent points about a career in academia, I think it does have some overgeneralizations and omissions/inaccuracies. The bitter tone maintained throughout does not help the author’s case either IMHO.</p>
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<p>The author fails to mention financial aid for poorer students. Even neglecting this, attending a pricey undergraduate college is not a requirement for success in academia.</p>
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<p>If someone enters a PhD program directly from undergrad then it will generally not take them that long to complete the program. Many fields also pay a higher stipend than the quoted figure.</p>
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<p>Many post-docs don’t take 5 years to complete.</p>
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<p>But I thought we were talking about someone who was able to obtain a tenure-track position at a “good, but not great, university” such as “University of California, Irvine.” </p>
<p>It is also harder to become a “top specialist of some sort” than one might think. How many top specialists are there in the country? How many doctors are there in the country?</p>
<p>Furthermore, salary also depends on the specific field. There are many fields where “at least $300,000 per year” is uncommon at best.</p>
<p>Finally, the author neglects to mention the tremendous debt incurred during medical school and the low salary paid to residents.</p>
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<p>This seems to be an overly idealistic view of success in the business world.</p>
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<p>Not necessarily, depending on the field and the type of work required by the specific position. It is also not as easy as the author makes it sound to obtain a professorship at a law school or make partner in a big firm.</p>
<p>The author also fails to mention the debt incurred during law school.</p>
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<p>With no offense intended, this is a cheap perpetuation of a common stereotype.</p>
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<p>The above seems to be an extremely sexist and ignorant statement to me.</p>
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<p>A starting salary of $300,000 per year is definitely not typical for an average medical specialist.</p>
<p>Further, the entire Appendix C argument is less than convincing. It seems the author is arguing that if scientific academia were to pay as well as the legal or medical professions, more women would pursue careers in scientific academia. How does this support the author’s conclusion that female scientists should be paid significantly more than their otherwise equally qualified male counterparts?</p>
<p>This is not true at all. You will be just as attractive for these consulting/iBanking jobs coming out of a PhD program as if you had applied with a bachelor’s degree. Most of the people I knew from MIT who got a PhD ended up doing one of these consulting jobs. Going to a top grad school (top 5) will help. So if a top 20 school offers you $35,000 a year to be a grad student, it’s probably a better move financially to take the top 5 place that is only offering you $25,000. I would have to investigate this further, but it also might be better to take the place which has most prestige in general if you are deciding between top 5 places. For example, if you are choosing between U. of Minnesota and MIT for chemical engineering, it will be easier to get a consulting or financial job with a PhD from MIT (even though U. of Minnesota is a top 5 school in Chem E.) </p>
<p>But these are things which probably should not determine your decision. If you feel it is a better environment at a school that is slightly less prestigious, it might be worth going there. Think of it this way. If your going to be consulting in a technical profession, you will be better off with knowing more and being slightly disadvantaged from your resume’. The training is paramount. One of the most successful consultants I know (and perhaps one of the most successful in the U.S.) had degrees from state schools.</p>
<p>There are many consulting positions, but you should know that McKinsey only takes people from certain PhD programs. (I don’t know exactly what they are.) So if you want to go to McKinsey after a PhD, you should probably be going to HYPMSC. </p>
<p>Don’t think about all this now. You should not be discouraged about pursuing a career in science because you feel that it will be hard to do something later. And from going to MIT, it seems like most everyone’s parents did not understand how the world worked in terms of technical professions. They thought if you were not an engineer or a doctor, you had to be like the top person in the world to find a job. Do what you enjoy doing and opportunities will open up to you that you may be interested in. If you pick a “safer” job, you may not like it and you may not want to pursue other jobs related to it because you never liked it in the first place. For example, if you pick comp sci but don’t want to debug as your main job, you could be a technical writer specializing in computers. But if you chose course 6 only because being a programmer was a safe profession and you aren’t really that interested in computers, you won’t be able to be a technical writer. You would have been better off majoring in what you liked, so you would be interested enough in it to do a job related to it.</p>
<p>Well, you need to be passionate about the research part of it. You can be passionate about the subject matter and doing thought experiments (which you would know just by taking classes,) but you need to also enjoy the troubleshooting part of it. Unless you spend serious time at your UROP, you might not know this until you get to grad school.</p>
<p>My paramount worry. The way I deal with this, though, is by asking myself: would I rather NOT go to graduate school if I won’t become a researcher some day? And my answer is a resounding NO. I don’t even have to think to answer, and have asked myself the question many times. </p>
<p>What I’ve learned from some of those farther along in the process than I on these MIT threads is to ask myself what I see myself doing in the near future, and attempt to enjoy that. Something maybe a lot of us have to work on. I know I have a tendency to feel “OK, gotta learn this, so I can do that, and do that so I can do something else…and it never ends…” – tough to enjoy the here and now.</p>
The author is not a professor. He is a lecturer. Very different.
Before you abandon your hopes and dreams, please question the authors intentions. The author is not a professor. The author teaches many bright young kids who lack the perspective to realize that being an MIT undergraduate doesnt equal success in academics. The author is probably trying to bring these types of kids back down to earth.</p>
<p>What can you do with a math/physics major? What can you do with a math/physics PhD? I would argue that you can do a lot. Quantitative analysts: [Quantitative</a> analyst - Wikipedia, the free encyclopedia](<a href=“http://en.wikipedia.org/wiki/Quantitative_analyst]Quantitative”>Quantitative analysis (finance) - Wikipedia) make a tremendous amount of money for relatively less work. If academia doesnt work out, you can jump ship to an occupation that makes you a lot of money. This is just one example.</p>
<p>The author claims that the stipend is $1800 a month, which isnt true, but thats a minor point. What a stipend also means is that your PhD education is free and that the stipend is more than livable. I remember molliebatmit and others claiming that she can budget herself well enough to pay off loans and semi-support her husband. Going through some cursory calculations, I have found that it is entirely possible (and easy in many cases) to have an extra ~$5-7k a year left over from your stipend to do whatever you want with. Its not a lot of money, but its not like you will be living in absolute poverty.</p>
<p>University of Melbourne, Columbia, London School of Economics, Oxford, Berkeley Haas, University of Chicago, INSEAD France, University of Michigan, Polytechnic University of Turin, UPenn just to name a FEW; there are many more.</p>
<p>Now, these are primarily MBAs, but as the previous wiki quote implied: McKinsey has connections with all these schools.</p>
<p>Onto the topic of tenured track at a prestigious institution Im going to use Chemistry statistics.</p>
<p>Keep in mind as the author said, the physical sciences tend to be more competitive. However, chemistry isnt as competitive as physics or math, but it isnt a cakewalk either.</p>
<p>Graduate School Impact Factor: % of PhD graduates between 1979-2000 from an institution that currently holds professorships at a top 10 institution.</p>
<p>Ranking | Grad School |Women Imp Factr | Men Imp Factr
1 UC Berkeley 3.4 2.1<br>
2 Caltech 1.7 3.4
3 Harvard 1.3 4.1
3 Stanford 2.4 2.8
5 MIT 1.8 1.8
6 Cornell 1.5 1.1
7 Columbia 0.9 2.7
8 UIUC 0 0.3
9 Wisconsin 0 0.7
10 U- Chicago 1.1 1.1
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<p>To put this in perspective youre going to have to be the top ~2% in your PhD class to statistically have a chance at a top 10 school. Furthermore, the statistics to get into each PhD program is ~less than 10% (usually much lower). Also, PhD admissions are also a self-selecting process usually, only the successful undergraduates apply for PhDs.</p>
<p>Statistically, prestigious professorships are not easy to get. Like the author said, the smartest kid in your class will probably not be able to get a professorship of that caliber.</p>
I don’t mean to be tacky and talk about money all the time, but this is absolutely true.</p>
<p>The first year of my PhD program, my then-fiance was still an undergrad, so my stipend was all we were making. We supported ourselves (except that his parents paid his tuition), and managed to put several thousand dollars into savings. This definitely required living frugally, but we weren’t suffering.</p>
<p>It irks me when people complain about PhD stipends – I mean, think about the number of people in this country making minimum wage to support an entire family, and then tell me whether you think a single person can “survive” in Boston on $30k a year.</p>