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The 50-55k range is for PhD students, not postdocs. PhDs in Europe often get a much higher pay than in America.

You've looked at postdoc salaries, not PhD salaries. very different. For example in the UK a PhD will get somewhere aroun £19-21k a year, whilst a postdoc will get anywhere from £37-45k a year......

Thanks for the correction, posting too early in the morning. :)

My wife earned that as a postdoc at Stanford, but as a PhD in Oxford earned £14k per year. $55k as a PhD is really really good.