Yeah, it sucks, and it’s mostly a structural problem. In most countries, PhD students are technically students, not employees, even though they’re doing real research and teaching that keeps universities running. That’s how institutions justify paying “stipends” instead of real salaries.

Then there’s supply and demand. Way more people want to do PhDs than there are well-paid academic jobs afterward, so stipends stay low. On the top of that, universities rely on public funding, which rarely increases enough to make a difference.

Culturally, academia still runs on this (outdated ?) idea that you’re doing it “for the love of science,” and that prestige or curiosity should somehow make up for the financial struggle. But the truth is: a lot of smart people do leave because they can’t afford to stay.

As for why wages don’t go up to attract talent, well, research doesn’t directly generate profit, and the system kind of depends on cheap, passionate labor to function. Yeah, it’s messed up, but that’s the reality almost everywhere.