I agree that phd holders are more versatile and able to do many more jobs better, but thats a given and they suffer too as they are willing to take lower positions, more is expected of them. So if they promote faster and get paid more its because they work harder too!

This is like the whole foreign talent debate. Singaporeans loathe foreign talent as they compete for your jobs and ask for less. With phds they are singaporeans who ask for the same salary, but do twice the work because they are either more capable, smarter, or just spend more time working and less time COMPLAINING.. And you loathe them.

If you guys continue at this rate, your economic miracle is going to end. The recession is coming. Better find time to upgrade or you will be made redundant.