If there aren't jobs in your subfield outside of the most elite schools, or handful of select R1s, your subfield is dying.
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I'm sure it's a great school. I'm also sure if we get to the point that premodern history is only available at elite privates and the most elite R1s, the field is dead and it will be an actual problem.
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Ancient offerings are often better, but only a little (and right now, not by much). Pre-modern history generally is withering which is tragic, since I think it's actually the most important subfield. To be fair, it's not like the modernists are awash in jobs either.
