I have a PhD in SE and it didn't help me financially. But it was an awesome experience in research, learning and personal development. My take is that there's

I have a PhD in SE and it didn't help me financially. But it was an awesome experience in research, learning and personal development. My take is that there's far more to life than chasing after money. Living within your means is an easier path to happiness. To answer your question: If you can potentially land a job at a FAANG or Microsoft Research or in SV or NY, then it probably will pay-off in the long run. Academic research jobs are very hard to get. By the time you graduate with a PhD, ML might no longer be the trendy field. AI has been on and off trend for over 50 years. In summary, whilst there is a chance of eventual financial advantage, the real value of a PhD is in being paid to pursue an interest that you are passionate about.