ScienceGrandma pointed me to this recent article in the Wall Street Journal. It's titled "So You Want to Be a Professor?" but I think it should have been called "The Perils of a Ph.D."
The article begins by citing some examples of graduate schools that are reducing admissions of PhD applicants for next year, in what may be a cost-cutting move. As we all know, graduate assistantships cost $25K or more per year, even if the grad student doesn't see much of it and returns those costs to the university by teaching labs, grading papers, and doing other grunt work. Apparently, some universities…