i enjoyed this piece, because the author addresses the following misconceptions about ph.d.s:
* Ph.D.s are unemployed and can't get jobs.
* Ph.D.s are chronically underpaid.
* There are far more Ph.D.s out there than faculty jobs for them.
* The Ph.D. degree is so specialized that you can't get any other kind of job.
* It costs a fortune to get a Ph.D.
* It takes forever to get a Ph.D.
i have to admit that i had resigned myself to the truth of some of these myths, telling myself that the degree was worth the underemployment risk because a) i love to teach, b) i enjoy my research, and c) i like the flexibility of a professor's schedule.
in fact, the biggest misconception that the author addresses is that ph.d.s are hard pressed to find a job. however, according to the article, it might be better to say that it is a challenge to find a job in the academy. there are other job prospects for ph.d.s in industry (e.g., consulting, nonprofit work, research) that, in fact, pay higher salaries than their university employer counterparts.
although i feel incredibly lucky to have my tenure track job, this article makes me feel as if it wouldn't have been the end of the world had i been forced to work outside of the academy. and just in case, in seven years, if i'm not granted tenure, maybe i'll end up with a pay raise. ;)