The other thing we fail at as academics is helping trainees understand and take advantage of non-academic tracks after grad school, without attaching a stigma of failure to them. There are many, many ways to succeed, have a rewarding and exciting career, and contribute to society as a non-academic with a graduate degree... not to mention the higher salaries! Too many academics treat their trainees as failures if they even initiate this conversation. It needs to stop.
Imagine if students entering med school, who wanted to be pediatric neurosurgeons, for example (sub-sub-speciality requiring many post-med school years of study) found out at the end of all their training, at age 35 or 40, that oops, perhaps only 25% of them will ever get the job they want?