One of the things people do when economies slowdown: Go back to school. The hope is, they’ll pick up training for new skills along with their law degree or doctorate.
But PhD’s don’t come cheap, and in fact, consultant Karen Kelsky says getting a doctorate can cost you more than its worth.
She runs a business that is in part about finding jobs for students with doctorates, and she’s an anthropology professor herself.
Kelsky says when it comes to fields like engineering or medicine, funding remains strong and pay in the workforce is high. But for “soft sciences,” like political science or anthropology, schools are investing less and less to support advanced degrees: