| As a poor PhD who teaches college while many friends earn high six and even seven figure salaries, I think that going for a PhD does not indicate intelligence or even preparedness but temperament. I can think of many reasons professional school or jobs would be more attractive for many people than PhD's.
Academics as a career is suited to particular personalities and interests, but says nothing about our intelligence. I happen to think I'm pretty intelligent, but maybe not, because I haven't made it to six figures. I do enjoy my work. |