Personally, I don't think anyone should do a PhD for getting some monetary benefit. People should do a PhD out of passion to expand the horizons of the subject

Personally, I don't think anyone should do a PhD for getting some monetary benefit. People should do a PhD out of passion to expand the horizons of the subject they are interested in.In India, we have an opposite problem.There is a big need for qualified PhDs in Universities and Colleges.But there are not enough to go around especially in CS.So Universities have started churning out sub standard PhDs. Just try to search for any recent PhD thesis in any Univerisity(Other than IITs) and you will know what I am talking about.