No, in fact I would classify AI as a special case, because there is a high premium on experience, and even more on theoretical knowledge - rare as it is. It is

No, in fact I would classify AI as a special case, because there is a high premium on experience, and even more on theoretical knowledge - rare as it is. It is a new field. In many other fields, PhDs are too expensive and specialized relative to other candidates. This is also relatively speaking. PhDs will certainly find some sort of job, but given how much income they forgo during their studies, the starting position is often relatively underpaid.