I've been reading a few academic blogs lately, and one issue everyone brings up is how hard it is to get a job after grad school, especially for humanities people (see
http://academiccog.blogspot.com/ as an example). Basically, most people seem to say "Don't go to grad school, if you don't go to Harvard you'll never get a job, certainly not a tenure track job at a good university, it's too much time/money/stress just to be eating ramen in a crappy apartment when you're 35."
I go to a less-than-well-known school (undergrad) and know people who got MFAs and MAs there and got fairly nice jobs at said school. I also know people are are teaching classes as adjuncts while trying to find "real" jobs.
You thoughts on this? Why is grad school worth it for you? Do you already worry about the job market?
(I personally was hoping to go into contemporary literature, which apparently has the crappiest job market in the world. Maybe I'll get really into Shakespeare or the Romantics in grad school...)