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there is definitely a naive perception in some circles right now that a doctorate studying deep learning is a path to riches and fame. Due to misleading reports of million dollar salaries for new PhDs and so on.

It's a degree with a high opportunity cost that won't pay off financially in the long run, even with no tuition or debt. In the past I think everybody understood this but now I'm slightly more worried.

The vast majority of PhDs aren’t in ML, however. Even in ML, most are probably not in it for the “more money,” so the minority that is might actually be justified looking at all the JDs for more advanced ML jobs.

However eventually the next AI winter will come and the old lessons will be relearned again.

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