So make no mistake: graduate school is no picnic. Yes, there are modest financial rewards. But unless you’re one of those people who absolutely loves being a scholar, you’re probably going to pay heavy costs in terms of your lifestyle and mental state. These are things I wish I had known about before I did my own Ph.D. Think twice before jumping on the grad school train.I think "modest" may overstate the financial rewards. Conditions vary widely by discipline, so its hard to generalize. My own advice - tailored to economics - is here.
Thursday, April 23, 2015
Noah Smith's PhD Advice
Noah Smith's latest Bloomberg column about the pros and cons of going for a PhD is a worthwhile corrective to the increasing tendency to assume "more education is better." He concludes: