I’m going to say it before you even think it. Yes, with both a PhD and MBA, I’m overeducated. People marvel (or snark, depending): “You have both a PhD and an MBA? You must really like school.” The fact of the matter is, I like learning and sometimes that involves school, but mostly it involves learning by doing.
For those of you unfamiliar with what it really takes to get a PhD, a PhD in the life sciences is basically a long, poorly paid apprenticeship. After you are done with your one and a half years of classes, you work in unpaid practicums, or for minimum wage as a research assistant, for four years. As a graduate research assistant, the annual stipend from the National Institutes of Health is currently $22,920 — and you are not working a cushy 40 hours a week. Try more like 60 to 70. So, it’s a factual statement to say a PhD is essentially a glorified way to work for minimum wage for years. The notion that you are chillaxing reading books and pontificating in an ivory tower should be put to rest.
