FTA: "Now that President Obama signed into law a federal spending measure that locks the federal budget "sequester" cuts into place, a mandatory $54 billion in

FTA: "Now that President Obama signed into law a federal spending measure that locks the federal budget "sequester" cuts into place, a mandatory $54 billion in basic research funds will be cut across agencies in the next five years, estimates the American Association for the Advancement of Science, based in Washington. In that case, grant success rates will probably plummet to about 10%, NIH chief Francis Collins has estimated. "For young researchers, the sequester is just one more load on the camel's back after years of seeing fewer chances at funding," says Boston College biologist David Burgess. "Most of my graduate students are figuring on careers in industry, while the younger students are hearing horror stories about funding and may steer away from science completely."" Relevantly, I left my academic science job 5 months ago, and won't be going back. I am in a biotech industry job now, however I may soon leave this as well-- salaries are too low for the trouble.