A study tracing the economic prospects of more than 3,000 US PhD
students suggests that around 40% take a job in industry within a year
of graduating — where they earn more than their counterparts who stayed
But earnings depend heavily on the doctoral field, finds the analysis, published on 10 December in Science1.
One year after graduating, doctorates in mathematics, computer sciences
and engineering raked in the highest amounts — US$65,000 a year on
average, with the 60% of engineers who took industry jobs earning around
$80,000 a year. Those with biology PhDs earned the least, around
$36,000 per year, perhaps because of the effect of many taking
postdoctoral fellowships — only 26% of biology graduates went straight
into industry jobs.
How long would it take you to save enough money to buy an iPhone 6? The answer to that question depends heavily on where you live. According to the Prices and Earnings report, published every three years by Swiss bank UBS , an average worker in New York City or Zurich can purchase an iPhone 6 with the proceeds from less than three days of work. Read more >
Women do at least enjoy better percentage pay bumps than men as their grades improve: The study, based on high-school transcript data and interviews of more than 10,000 students, found that, for men, a one-point increase in GPA translated to an 11.85-percent increase in annual earnings, compared to a 13.77 percent annual earnings increase for women. Still, the higher percentage increase isn’t enough for women to catch up to men because their base salary starts off so much lower.
Take a look at this chart. It shows productivity rising quite dramatically, and compensation rising roughly with productivity until 1979, and then compensation virtually stagnates up to the present day. Where did all the wealth go? It went to the top 10% - to the ownership and investment class, to capitalists, in other words. All of the massive wealth that America’s working class generated during that period of tremendous productivity, sucked up and robbed from them for 40 years.