"You live off a meager stipend for about a decade" is not true for all students, especially under-represented minorities. I had a fascinating discussion with a student once where her 'meager stipend' was the best job anyone in her family had ever had.
"Unless you're somehow in the top 0.1% of your field, you're probably going to be fighting for a tenure-track positions at any institution that will take you." A huge amount of my cohort ended up living where they wanted to live - I'm in a field with good representation in "non-academic" jobs in government and private industry, and plenty of people made the decision not to chase a job they wanted in exchange for quality of life decisions.
"Meanwhile your peers are well established in their careers, have families, making 2-3x as much as you." Knew plenty of people who started their families in graduate school. The opportunity cost is real though.
"You live off a meager stipend for about a decade" is not true for all students, especially under-represented minorities. I had a fascinating discussion with a student once where her 'meager stipend' was the best job anyone in her family had ever had.
"Unless you're somehow in the top 0.1% of your field, you're probably going to be fighting for a tenure-track positions at any institution that will take you." A huge amount of my cohort ended up living where they wanted to live - I'm in a field with good representation in "non-academic" jobs in government and private industry, and plenty of people made the decision not to chase a job they wanted in exchange for quality of life decisions.
"Meanwhile your peers are well established in their careers, have families, making 2-3x as much as you." Knew plenty of people who started their families in graduate school. The opportunity cost is real though.