$10/hr seems insanely low, even if you were paying illegals under the table.
When I lived in Singapore, we would pay more than that to the Indonesian/Philippine maids who did freelance cleaning work. (paid $20/hr)
And this is in the country that's king for hiring cheap foreigners for...
we got the same "sink or swim bitches" spiel when I started as well. fukn eng dorks lol. The school I attended was uber competitive to get into and we still found a way to weed out about 30% of the class by the time grad hit.
Of course there's always the luck/timing element. I remeber when...
I'm calling bs on your assessment of the labour situation in the 2000's as a UW grad myself ('04 Chem Eng)
I definitely recall the bottom falling out of coop placements for 1 round of work terms in 2002 that scared all of the CS and EE kids shitless .... mind you they probably needed to be...