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> I actively discourage people from doing a PhD. Academia is a horrible feudalistic system that doesn't pay well enough to keep the bright minds it attracts. There is no sense in being a post-doc for life. Much better to take that hedge fund job. Underlying your comment is the assumption that every one wants the hedge fund (or other) job. One of the allures of academia is the prospect of doing fundamental research. You ignore that many people derive satisfaction from doing fundamental research that has the potential to be widely used across the research community (and possibly, for product development, e.g. industry labs, some government labs). It is simplistic to dismiss academia as a feudalistic system. There are merits, demerits, and other nuances. Also, there are, figuratively speaking, thousands of academic fields, each with its own system and culture. For example, academic jobs are plentiful for PhD graduates in these areas (in my experience): information technology/information systems (as opposed to computer science), management, accounting, finance, organizational behavior, etc. A summary dismissal of academia as 'feudal', especially when such an assessment underlies 'advice' is an unnecessary exaggeration. |
It's also a false allure: the problem is that fundamental research requires funding, and the OP is pointing out that he can't get it. He'll be in essence locked out of research and not make a lot of money at it.
This is like saying, "One of the allures of acting is the prospect of being famous and sleeping with lots of fans." On the one hand it's true; on the other, it's very unlikely.