"Today, the PMC as a distinct class seems to be endangered. At the top end, exorbitant compensation and bonuses have turned managers into corporate owners. At the bottom, journalists have been laid o , recent PhDs have gone to work as part-time, temporary adjuncts rather than tenure-track professors, and those now iconic recent graduates have taken to the streets. In the middle, lawyers and doctors are more and more likely to work for corporations rather than in private practices. Once independent professionals, they are now employees."