PhDs by the numbers: (1)
7 PhDs awarded for every 1 faculty position
25% of biological science PhDs have a tenure-track position within 5 years of degree completion
70% of PhD students pursue postdoctoral training
50% of PhD students require 7 years (or more) to complete their degrees
33% of students who start a PhD program never finish
So what's a grad student to do? Jorge Cham gives a bit of humor to the depressing job outlook:
Before starting a PhD program ask yourself: Do you really need/want a PhD? (Let's be honest, the graph above is pretty grim.) If you decide to go ahead, make sure you develop skills that will allow you to leave academia if it becomes necessary to do so in the future.
References:
1) Shillebeechx, M. et al. "The missing piece to changing the university culture." Nature Biotechnology 2013, 31 938-941. doi: 10.1038/nbt.2706
2) Jorge Cham "The Plans" PhD Comics. Published on the Web 2012.
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