The crisis of the humanities is all around us, proclaimed by the popular press and suffered perhaps most acutely by our graduate students in their bones. On the one hand, we are tempted to emphasize just how bad it all is in order to wake up those colleagues and administrators who are going about their daily business without addressing the defunding and downsizing of the humanities, the rise in contingent labor, and the dim prospects of employment in humanities fields for our graduate students. On the other hand, we are now tasked with thinking about both our own teaching and research and our obligations to graduate students in new ways, developing an ethics of mentorship responsive to precarious times. Graduate programs now have to reckon with their obligations to students during a very bad job market, and it is all the more important that graduate students be mentored not only on how best to do research and write but also on how to think about and plot their futures. During a time of intense anxiety about the market for graduate students, it is all the more important to develop and abide by an ethical code of conduct that prohibits exploitation, including harassment. Such a code would also emphasize the support we owe graduate students, the attention we must give to their work, and the practical mentoring we should offer that is focused on how to find employment when the degree is finished.