In this Chronicle article, professor Amanda Seligman writes about whether faculty should encourage students to pursue graduate school, or warn them against it.
I must admit, I sometimes wonder if most of the “grad school isn’t worth it” essays are written by people who have become disgruntled in some way - with their programs, with their institutions, with the difficult job market.
On the other hand, I have warned some young people off about grad school (including my niece), if I felt they were considering it for the wrong reasons: to delay entering their career field, or in pursuit of future money and prestige (both are rare).
That said, I think those of us who run the gauntlet and succeed are really meant to be here. We chose this life, and could not have been talked out of our choice.