What's a good explanation for how grad schools get away with paying stipends that are ~1/2 what fresh graduates get in the private sector?
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They're not employing employees, they're teaching students. (Often not true, but sometimes true. It was, incidentally, very true of my grad school experience.)
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That's the theory, but the practice is that within 1-2 years you're a junior employee doing research.
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I'm not telling you theory, I'm telling you my actual experience: I never felt like an employee, and the core aspects of my grad school experience were nothing like an employee's. I chose what to work on, who to work with, wrote sole author papers, etc, in a superb environment.
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