[geebee]

Interesting story about the lecturer. The RAND institute proposed an alternative approach to PhDs modeled more on professional degrees. Law professors, for instance, typical complete law degrees in a very predicable 3 years and build their publications on the job as well paid professors.

This suggestion in the RAND paper was part of an article concluding that there is no shortage of interest in STEM PhDs, and that the aversion US citizens have to these PhD programs is rational and market based when compared to outcomes from professional degrees with (comparably) short, predictable completion times and vastly lower attrition rates.

In other words, if there really were a shortage of PhD STEM students, the career path you described would be plentiful and typical (well, not the 16 year part, but the model of getting good, stable, paid employment after a shorter and more easily completed degree, followed by a process of building publications in that role).

For now, unfortunately, the main lesson is to just say no to PhDs, unless you have a very very strong personal interest in completing one.