[is0tope]

In another life I might have considered doing a PhD after I finished my masters. My father (who has a doctorate) quickly put me off that idea. Looking at what you have to do and get paid to do a PhD (at least in the UK) it feels more similar to being a struggling artist busking in the streets while trying to finish their "killer track".

No wonder the most promising students drop out and go on to join finance or tech firms - the pay is an order of magnitude higher.

[feet]

Finance or tech firms? I think you might have a limited view of the field of PhD candidates

[is0tope]

I'm sure there are various other options, but that's not the point. If you ask someone to take a supermarket salary and postpone their life till their mid 30s,then don't be surprised that people choose other paths.