The Academic Job Market Is Tottering, But Nobody's Telling.
Generally, a PhD in CS is a bad idea if you're just doing it to get a job, especially if you have a bachelors in CS. This is because the market for software engineers is great right now, and phds are no more likely to get these jobs than people with just a bachelors. A PhD is only really worth doing if there's some kind of work you really want.
The fact that there are more PhD candidates than academic jobs isn’t necessarily a market failure; it can potentially suit both sides. As a PhD student, for several years you’re paid to study.
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Similarly, a recent paper on 2007-2008 PhD economist job market placements finds “little difference” in placements into academia, government, the private sector, or temporary positions based on program tier. 2 Nonetheless, our dataset does highlight differences in placements across individual programs. For instance, 39% of graduates at the University of Maryland-College Park placed into.