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by labcomputer 1260 days ago
Well... that's what happens when academia depends on poorly-paid grad student labor. They accept too many people into PhD programs (relative to the demand for PhDs in academia) for the cheap labor. The over-supply also makes it easier to exploit tenure-hungry assistant professors and adjuncts. It's how colleges have managed to make faculty costs go down (in real-dollar terms) for three decades.

Lots of PhDs end up in high paid jobs not because that's particularly what they want to do, but because they literally can't find a job in academia. The fact that finance and tech pay well is just a bonus.