This is just old school fatherly advice, which doesn't represent today's reality at anywhere, let alone at MIT.
Most profs these days, went to grad school right out of college and never stepped foot in the industry. If they've had any contact within industry it's through some R&D grant with other PhDs. A few are in start-ups which means they only hire interns for $20/hr, and fresh off the boat indians and asians grad students.
Small or local companies don't want and can't pay salary of MIT grads; they've plenty of salt-of-the-earth local engineering school grads to chose from.
Most profs these days, went to grad school right out of college and never stepped foot in the industry. If they've had any contact within industry it's through some R&D grant with other PhDs. A few are in start-ups which means they only hire interns for $20/hr, and fresh off the boat indians and asians grad students.
Small or local companies don't want and can't pay salary of MIT grads; they've plenty of salt-of-the-earth local engineering school grads to chose from.