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does a PhD pretty much mean good money?

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  • May 8th, 2012 8:38 pm
[OP]
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Oct 1, 2006
440 posts
11 upvotes

does a PhD pretty much mean good money?

was there ever a case where a PhD don't make much?

i seem to have this impression that if you have a PhD, you are automatically respected anywhere you go and you make very good money.
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Jun 14, 2010
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Powder + park raider wrote: was there ever a case where a PhD don't make much?

i seem to have this impression that if you have a PhD, you are automatically respected anywhere you go and you make very good money.

Is this a troll post?
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Apr 7, 2012
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No.
It means you're over educated, and unemployable. Oh, and you'll also have the bonus of paying your student loans for the next 10 years.

Not that I'm speaking from experience......... *cough cough*
[OP]
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Oct 1, 2006
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MrsPotato wrote: No.
It means you're over educated, and unemployable.

how is over education = unemployable though?

it's like saying an actor is so good at acting, no one will hire him lol

or a food that tastes so good, no one will eat it.
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Sadly, these days even graduating at the top of your class of an undergraduate program, say the top 5%, can bar you from employment. It's not uncommon for a top 5% graduate in ECE to send out hundreds, or even sometimes thousands of resumes and not receive a single response, or even have anyone read their resume. With HR taking over and destroying companies these days, resumes are often filtered for the right buzz words and 'soft skills' rather than the technical abilities. Employers are often intimidated by people with more education and intelligence than them, and they are also intimidated by people with confidence who are in good shape and have full heads of hair. With the collapse of Nortel, the market is now flooded far past the saturation point and the likelihood of you winning the HR selection lottery recruitment process is almost nothing.
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Jul 8, 2009
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Powder + park raider wrote: was there ever a case where a PhD don't make much?

i seem to have this impression that if you have a PhD, you are automatically respected anywhere you go and you make very good money.

Depends on what you are a professor in. Professors in social sciences as far as Canada goes have less rosy outlooks than say business. I know that lots of your pay depends on if you end up at a better or less reputable/larger/vs smaller school.

Many Ph.ds in social sciences have trouble finding meaningful work. And often if they are not tenured then they do not earn well. Ie. the head of a department of social sciences at York U (a major school) earns in the low 6 figures, whereas most of the business professors at schulich are earning into the 6 figures if they are full time or a comparable hourly wage if they are p/t. My cousin was a professor at Ryerson and the pay is not very good, in fact many of them can earn more by finding different jobs ie. language professor is better off doing translation work than working as a professor because unless you have lots of research and lots of experience you are not really a professor just because you have a ph.d (plenty of ph.ds are associate professors or temps aka instructors but like to present themselves to students as professors when they usually are not)

To be honest one would earn better money faster by going to alberta and picking up a trade, and you';d probably be more respected to, as your students don't usually respect you, its not really any glorious job, they pay is less than a high school teacher on average, and I know numerous phds who left university to teach highschool. One would be better off getting a teaching degree in math/technology/business than to become attempt to become professor.
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Dec 20, 2004
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Most PhD students are so deep in debt by the time they graduate that it will take them decades to just catch up to their peers who only did their undergrad. I know a couple of PhD graduates and they don't really make any significant amounts of money, however the interest on their $100,000+ student debt is eating them alive.
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For te most part, after spending 10 years in uni, your social skills are pretty much nil.

No company wants to hire with no experience, but with years and years of schooling.
You dont look Profitable in the eyes of a biz.
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jungeon wrote: Depends on what you are a professor in. Professors in social sciences as far as Canada goes have less rosy outlooks than say business. I know that lots of your pay depends on if you end up at a better or less reputable/larger/vs smaller school.

Many Ph.ds in social sciences have trouble finding meaningful work. And often if they are not tenured then they do not earn well. Ie. the head of a department of social sciences at York U (a major school) earns in the low 6 figures, whereas most of the business professors at schulich are earning into the 6 figures if they are full time or a comparable hourly wage if they are p/t. My cousin was a professor at Ryerson and the pay is not very good, in fact many of them can earn more by finding different jobs ie. language professor is better off doing translation work than working as a professor because unless you have lots of research and lots of experience you are not really a professor just because you have a ph.d (plenty of ph.ds are associate professors or temps aka instructors but like to present themselves to students as professors when they usually are not)

To be honest one would earn better money faster by going to alberta and picking up a trade, and you';d probably be more respected to, as your students don't usually respect you, its not really any glorious job, they pay is less than a high school teacher on average, and I know numerous phds who left university to teach highschool. One would be better off getting a teaching degree in math/technology/business than to become attempt to become professor.
Actually, you're WAY off on the salary ... I work at yorku as a Prof!!
You're delusional if you think we make 6 figures!!!!!!
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gei wrote: Most PhD students are so deep in debt by the time they graduate that it will take them decades to just catch up to their peers who only did their undergrad. I know a couple of PhD graduates and they don't really make any significant amounts of money, however the interest on their $100,000+ student debt is eating them alive.

I'm curious about why a PhD student would have $100,000+ in debt. You do realise people get paid to do a PhD, right?
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Powder + park raider wrote: was there ever a case where a PhD don't make much?

i seem to have this impression that if you have a PhD, you are automatically respected anywhere you go and you make very good money.

There's Ph.D. holders who work as taxi cab drivers and at mcdonalds. Guaranteed. So yes, there are many cases. Someone with a Ph.D. applying for a tenure track job is treated exactly like a high school graduate applying for a job at mcdonalds - entry level. All the Ph.D. gets you is an interview, and that's it. Your dedication, outlook and research will get you the job. Almost every Ph.D. holder with a tenure track job as a professor earned it. Yes, once they get it, it is a cushy job, but they spent a long time getting there. The young good looking tenure track professors with mismatched elbow patches on their club jackets are not real.

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