The competition for tenure track positions is currently insane, since the professors from previous generations have trained too many PhDs. The funding agencies reward large labs under a single PI with large grants, with the labs mostly running on graduate students and post-docs who themselves see no way out. Now we are seeing career post-doctoral positions, especially in the biomedical sciences; see the recent suggestions about making a post-doctoral position more permanent. Not everyone can be a manager (PI), so we are stuck being graduate students or post-docs. I know industry is also a home for PhDs as I am one of those happy campers, but the fact is there are too many PhDs being trained relative to the number of positions available.
Lets have a system where the professor is rewarded for doing their own research, rather than their ability to write grants and farm out the work to their subjugated minions.