> So what you have is an increasing number of PhD graduates arriving every year into the market hoping to secure a permanent position as a professor and enjoyin

> So what you have is an increasing number of PhD graduates arriving every year into the market hoping to secure a permanent position as a professor and enjoying freedom and – reasonably – high salaries, a bit like the rank-and-file drug dealer hoping to become a drug lord. This argument is supposed by around 50% increase in PhD graduates in last 10 years It's a weak argument. I see many students joining a PhD program with strong inclination to get industry research jobs. Only a tiny fraction actually wants and aligns their work toward a long term academic position.