> That's why PhDs aren't lining up to spend $250,000, then take several years (if lucky) to get a $52,000 a year job with limited security. In many fields, oft

> That's why PhDs aren't lining up to spend $250,000, then take several years (if lucky) to get a $52,000 a year job with limited security. In many fields, often fields that don't pay well, the PhD students are mostly American. In my engineering program, the vast majority were Indian and East Asian. They have all gone on to get very good paying jobs. And it makes a lot of sense for them. Most probably wouldn't be getting a high paying tech job back home, so the opportunity cost of spending 5 years in a PhD program is low, and it opens up a lot of doors. By comparison, a U.S. citizen with an engineering B.S. might get paid $65k-$115k year out of college. A 5-year PhD will then cost them $250k-$500k in lost earnings.