> And once you come out of your PhD, who is going to hire you? Industry or academia? Well even in academia, there are tons of PhD already, so goodluck competing

> And once you come out of your PhD, who is going to hire you? Industry or academia? Well even in academia, there are tons of PhD already, so goodluck competing that. Since you seem to be talking about a CS Ph.D. in particular, there are actually many open faculty positions because industry is able to absorb so many graduates. It's quite common for a CS Ph.D. to get an academic tenure-track position right after graduation, without having to do a post-doc. We are interviewing many such candidates right now at my department, and we have been running searches since before my time. I was hired this way actually. It's competitive, sure, but you won't be sitting around for 5 years like my friend in Biology. Actually the most searches fail because it's really a buyer's market for applicants. They can negotiate huge startup packages by leveraging competing offers that our department can't even hope to match, and so the search continues...