There is indeed a profound shortage of STEM workers, in much the same sense that there is a profound shortage of 2014 Corvettes on sale for $10.
The past twenty years has been dominated by the MBA and the JD. The same people who demand outrageous salaries on the premise that they are indispensible, seemingly have a difficuly time understanding supply-and-demand when it applies to other people.
If you are capable of getting a degree in a STEM field, then you are likely more intelligent and rational than the average person. And an intelligent, rational person is less likely to commit to years of graduate work given the low salaries and job security that seem to be the norm. Why work and sweat so hard, when your CEO is just going to send your job to India so he can get his quarterly bonus.
When STEM grad students can expect $100k job offers out of the gate, and MBAâ(TM)s have to live with their parents to make ends meet, I bet our âoeshortageâ of STEM workers vanishes rather quickly.
(Have both a MBA and most of a Ph.D. in physics. Gave up the Ph.D. after I met brilliant people in my field who were in their 10th year as a postdoc and needing food stamps to make ends meet.)