Two decades ago, if you sat at a dinner party next to someone with a Ph.D., chances were, those letters made an impact. You’d try to sound your smartest, asking about the person’s field of study, nodding sagely at the Coles Notes version he saved for such occasions. By dessert, you might have run out of $5 words, but you’d have done your best to keep up—a show of respect due to someone with a decade of university education. These days, a doctorate is as likely to inspire pity as veneration. Universities are cutting back on tenure-track jobs. The federal government is laying off scientists. The economy, meanwhile, is skewing ever harder toward resource extraction, where the demand for highly specialized knowledge is limited. This confluence of forces is starting to show in the numbers: At last count, Ph.D. grads were more likely to be unemployed than master’s degree holders, while those with jobs enjoyed a median income only eight per cent higher than their master’s counterparts, at $65,000 per year. A good many of those were working in less-than-promising circumstances. One in three doctorate holders have jobs that didn’t require a Ph.D., while a 2007 survey of Ph.D.s working at Canadian universities found that only 12 per cent of those under the age of 35 held tenure or tenure-track positions, compared to 35 per cent in 1981.

Are Ph.D.s an academic dead zone? - Life - Macleans.ca

Notes

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