Doesn't the same situation also apply for most humanities PhDs? Here's a very quick Google result[1]:<p><pre><code> Getting a literature Ph.D. will turn you into
an emotional trainwreck, not a professor.
...
I deeply regret going to graduate school
...
I now realize graduate school was a terrible idea
because the full-time, tenure-track literature
professorship is extinct.
</code></pre>
That's just one anecdote. But, fundamentally, the payoff for a PhD just doesn't seem to be there any more. Too few tenure track jobs, too many non-tenured adjunct professors. So why does tuition keep rising, why are there so many administrators employed by universities? Why are grad students being misled about the prospects?<p>[1] <a href="http://www.slate.com/articles/life/culturebox/2013/04/there_are_no_academic_jobs_and_getting_a_ph_d_will_make_you_into_a_horrible.html" rel="nofollow">http://www.slate.com/articles/life/culturebox/2013/04/there_...</a>