For the most part, smart people shouldn't go to grad school, particularly in the humanities and most non-econ social sciences: https://jakeseliger.com/2012/05/2

For the most part, smart people shouldn't go to grad school, particularly in the humanities and most non-econ social sciences: https://jakeseliger.com/2012/05/22/what-you-should-know-before-you-start-grad-school-in-english-literature-the-economic-financial-and-opportunity-costs/ https://jakeseliger.com/2012/05/22/what-you-should-know-befo.... Computer science, econ, and a few other fields have robust non-academic job markets, which means that getting PhDs in those fields may not optimize for lifetime income but also may not mess up one's career and life track for little gain. Before someone says something about the importance of the life of the mind, I agree, but it's hard to live the life of the mind when you're struggling to pay rent or student loans. I know grad students who can’t get a $7 sandwich at Paradise Bakery because it’ll blow their food budget for the month. They have to bring lunch to campus every day because they literally can’t afford not to. Tired in the morning? Tough luck. Make your bean-sprout sandwich or your lentil curry. Personally I like bean-sprout sandwiches and lentil curry, but I also like the option of take-out. Not having any money also sucks if you need or want a book and can’t get it easily or expeditiously from the library and find yourself unable to buy it for $30.