My wife graduated college in 1978, a close friend the next year with a Masters in Pharmacy. Today the Condo two doors down is a series of Pharmacists that are PhD. We ask the family friend if the needed education change that much in 45 years (from a 5-year Master's to an 8-year PhD)?
Her response: The actual info didn't change much, but the cost did! A $5000 degree (The Ohio State University) in 1979 to a $110,000 now! (also OSU) And the affordable ones are all retiring! Maybe the students require longer to get the training or maybe an education conspiracy; probably a lot of both! (I had an immigrant that was a purity inspector for a whole district in a former communist country, our country wouldn't accept his credentials. 15 years ago is was close to $40,000 for him to get certified! (so he painted ghetto apartments, and lived better than in Albania!)
Youngest son's wife has a BS in Chemistry, she's a stay-at-home mom and sell "Collectables" online and is money ahead of being a Cancer Research Chemist or Quality Control Chemist for beauty products.
Ivan