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http://www.eetimes.com/showArticle.jhtml?articleID=181400037
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I believe my story is not atypical. A friend of mine and I attended the same university and received high GPA’s in engineering and physics. We both entered excellent graduate programs at the same time. He completed his law degree in 3 years, and I completed my PhD education in 6.5 years. I now generate patents in industry; he codifies them as a patent lawyer. These are both valuable activities arguably comparable in worth. However, the market does not bear this out. My friend’s salary is 2.5 times my own. Take any decent salary, multiply it by 2.5, and you have a very, very nice number. Guess which one of us owns a home?
Unless someone has a burning desire for graduate education in engineering, it is simply foolish from a financial standpoint. Young people have to ask: how much is a sense of accomplishment worth? Some of us are willing to make that trade. However, as long as the salaries of doctors, lawyers, management consultants, and investment bankers grossly outweigh engineers’ salaries, most smart kids will turn away from engineering. Our best American minds look elsewhere, and industry relies on inexpensive immigrants to make up the difference.
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