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I've read this article(missive?), Mr. Greenspun, as well as the reader comments that follow, and all I can say is... WAAH! If you folks didn't know what you were getting into one, two, four, six, ten, whatever number of years ago when you entrenched yourself into the academic world, you certainly know the score now. If it's that bad, choose another profession!
I've been there (kind of); I dedicated most of my high school years and my college education towards earning a bachelor's degree in aviation management/flight technology from Florida Institute of Technology, along with virtually every fixed-wing flight rating available short of an ATP. Then I spent two years as a flight instructor making $18K US a year, looking forward to possible commuter pilot positions (which were paying salaries in the low-teens, and which also required new-hires to pay for their own aircraft-specific training -- $10-$15K!).
Meanwhile, my buddies who barely made it out of high scho...