When people ask me, whether they should go to graduate school, I usually answer: if you can't live without a Ph.D., then do it. This year is another very sad example why grad school just does not pay off. Here two stories from the Chronicle: http://chronicle.com/jobs/news/2009/01/2009013001c.htm
http://chronicle.com/free/v55/i24/24b01201.htm?utm_source=pm&utm_medium=en
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