The 9 years I spent in grad school were some of the most enjoyable ever. It made me sad to read this perspective (Bill Deresiewicz, who taught English at Yale for 10 years), realizing that there's more truth to it than I'd prefer to admit.

A few years ago, when I was still teaching at Yale, I was approached by a student who was interested in going to graduate school. She had her eye on Columbia; did I know someone there she could talk with? I did, an old professor of mine. But when I wrote to arrange the introduction, he refused to even meet with her. “I won’t talk to students about graduate school anymore,” he explained. “Going to grad school’s a suicide mission.”

The policy may be extreme, but the feeling is universal. Most professors I know are willing to talk with students about pursuing a PhD, but their advice comes down to three words: don’t do it. (William Pannapacker, writing in the Chronicle of Higher Education as Thomas Benton, has been making this argument for years. See “The Big Lie About the ‘Life of the Mind,’” among other essays.) My own advice was never that categorical. Go if you feel that your happiness depends on it—it can be a great experience in many ways—but be aware of what you’re in for. You’re going to be in school for at least seven years, probably more like nine, and there’s a very good chance that you won’t get a job at the end of it.

At Yale, we were overjoyed if half our graduating students found positions. That’s right—half. Imagine running a medical school on that basis. As Christopher Newfield points out in Unmaking the Public University (2008), that’s the kind of unemployment rate you’d expect to find among inner-city high school dropouts. And this was before the financial collapse. In the past three years, the market has been a bloodbath: often only a handful of jobs in a given field, sometimes fewer, and as always, hundreds of people competing for each one.

via The Nation.