The most important question, I think, you should be asking yourself in this season of acceptances is if you should go to grad school at all. If you are in the humanities or certain fields of the social sciences, the job market is very bleak. It may well be better when you graduate, but it may well not be. There are troubling trends like MOOCs that, many people think, will restructure much of education in a way that will reduce the number of tenure track hires.
How bad is the job market currently? According to Harvard, as of the fall of 2012, only 52% of those who got a Harvard PhD in the humanities from 2006-2011 had an academic job. (And it looks like, based on some other data they report elsewhere, that about 1/3 of those are in non-tenure-track positions.) 23% were "unemployed and searching." And due to self selection bias in reporting, this data probably underestimates the number of unployed. http://history.fas.harvard.edu/programs/graduate/program/documents/five-year-cumulative-all-fields-2006-2011.pdf.
Because the job market, many people in the humanities, for instance, spend several years after graduating twisting in the wind with low-paid, time-consuming, and short-term lectureships and visiting assistant professorsips before either get a tt job or quitting academia. If you are really committed to an academic career, you may well be signing up for a PhD + several years of uncertainty and scrapping by after that.
Of course not all fields and subfields are made the same. Some of your fields will have excellent job prospects; others, terrible. It behooves you to research the matter and think about the kind of bet your are making. You are giving up 5-8 years of pay, and more importantly, 5-8 years in which you could be launching a different career. When you graduate at age 30 with a PhD, you will have opened a few doors (for instance, you are an attractive hire for a private high school), but shut many more.
I am not saying you should not go. That is a decision to make yourself. Personally, I have found getting a PhD immensley rewarding. But it has also come at a great cost.
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graduatingPhD
The most important question, I think, you should be asking yourself in this season of acceptances is if you should go to grad school at all. If you are in the humanities or certain fields of the social sciences, the job market is very bleak. It may well be better when you graduate, but it may well not be. There are troubling trends like MOOCs that, many people think, will restructure much of education in a way that will reduce the number of tenure track hires.
How bad is the job market currently? According to Harvard, as of the fall of 2012, only 52% of those who got a Harvard PhD in the humanities from 2006-2011 had an academic job. (And it looks like, based on some other data they report elsewhere, that about 1/3 of those are in non-tenure-track positions.) 23% were "unemployed and searching." And due to self selection bias in reporting, this data probably underestimates the number of unployed. http://history.fas.harvard.edu/programs/graduate/program/documents/five-year-cumulative-all-fields-2006-2011.pdf.
Because the job market, many people in the humanities, for instance, spend several years after graduating twisting in the wind with low-paid, time-consuming, and short-term lectureships and visiting assistant professorsips before either get a tt job or quitting academia. If you are really committed to an academic career, you may well be signing up for a PhD + several years of uncertainty and scrapping by after that.
Of course not all fields and subfields are made the same. Some of your fields will have excellent job prospects; others, terrible. It behooves you to research the matter and think about the kind of bet your are making. You are giving up 5-8 years of pay, and more importantly, 5-8 years in which you could be launching a different career. When you graduate at age 30 with a PhD, you will have opened a few doors (for instance, you are an attractive hire for a private high school), but shut many more.
I am not saying you should not go. That is a decision to make yourself. Personally, I have found getting a PhD immensley rewarding. But it has also come at a great cost.
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