I did a PhD because I really loved my subject (mathematics). I never envisaged it being a path to riches and it didn't bother me unduly that my friends who went

I did a PhD because I really loved my subject (mathematics). I never envisaged it being a path to riches and it didn't bother me unduly that my friends who went into jobs on graduation were earning much more than me. It really didn't occur to me to do anything other than do a PhD - I certainly wasn't doing it to postpone making a decision. I actually felt relatively wealthy because my grant I got as a postgrad was far more than the money I had as an undergraduate. The issue in my case is that I discovered that I didn't actually enjoy doing research for a number of reasons and having a PhD in a non-vocational subject generally makes you less employable rather than more - or at least changes the opportunities on offer. It is also difficult to extract yourself gracefully from a PhD program before the end - I ploughed on to submit my thesis and get my doctorate even though I'd realise a long time before that I didn't intend to pursue a research career. I was also quite naive about the realities of pursing an academic career (despite having a parent who is an academic), but given that research wasn't really for me, that probably wasn't too important in the grand scheme of things.