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So like the supposed STEM shortage? Is there really a lack of qualified candidates? Or is there simply a lack of applicants because the pay is too low or the requirements are too stringent?

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So much to unpack here. The STEM label itself is extremely misleading. There are opportunities in TE (technology and engineering) but not in SM (science and math -- well unless you get a PhD, but even then maybe not).

So people hear STEM shortage and go major in chemistry or biology and then find out there are few and poorly paid jobs so they have to accept that or get an advanced degree. Some simplification here, and individual exceptions exist of course.

That's a fair point. I've always heard it in the context of "STEM", but I think it was more referring to the technology area (primarily programmers, etc.). And even then I want to say it was about companies wanting cheap developers or specialists. So there's only a shortage if you're unwilling to pay the common rates.

I would place my bets on low-pay. For example, working at a Big Four would probably net you more than working as a professor at Berkeley [1].

[1] http://projects.dailycal.org/paychecker/departments/computer...

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