To save all the kiddies from embarrassment and rejection (which typically implies you'll just end up making more money at some tech company)[...]
I've never heard this one before. Usually the myth goes that people who go right into the workforce earn on average the same or slightly more than those who go into grad school. But what these myths don't take into account is how crucial timing is. I graduated from college in 2001 which just happened to be a terrible time to find a job. I was able to make ends meet for 2 years before finding a steady job, but I would have probably made out better going to grad school. Either way, I wouldn't have made any money.
Yes, you're right, 2001 was a tough year to graduate. That being said, von Ahn's focusing on PhD programs, where the time to finish may be as short as 3 years, but more likely is in the 5-7 range. While these programs do pay a stipend, if you stay in the program for the entire time (instead of dropping in, waiting out the recession, and then leaving), the total compensation over those 5-7 years is likely much less than you would make in industry if you'd gone to industry straight out, even taking timing into account.
One key thing is that a "great" EECS grad student stipend, say the one offered by the National Science Foundation fellowship, is (or was) $25K. Most tech salaries are 2x or 3x that or more. A lot of grad students make less. So if you made $0 for the first two years pursuing industry, then landed a job at $50K, you've made up those two years. (Not really, of course, due to tax issues and the fact you had to defer the money, many grad students make less, etc.)
Another key thing is that if you stay in a PhD program for the full 5-7 years, the economy may change radically around you. So if you stick with it, you forego the higher-paying jobs available at that time. Of course, you could always just drop out and start a company or something at that time...plenty of people do.
The guide that basically walked me through the entire application process was also written by a CMU professor. It's a much drier read, but, if you're applying to Ph.D. programs in computer science, it's gold.
Isn't it a little late in the season for grad school advice? I know there are schools where the deadline has already passed, and even assuming you could get together an application for one of the ones that hasn't, it would be poor form to ask for a recommendation this late.
I've never heard this one before. Usually the myth goes that people who go right into the workforce earn on average the same or slightly more than those who go into grad school. But what these myths don't take into account is how crucial timing is. I graduated from college in 2001 which just happened to be a terrible time to find a job. I was able to make ends meet for 2 years before finding a steady job, but I would have probably made out better going to grad school. Either way, I wouldn't have made any money.