While it might be true that TAs are "undervalued" in their paycheck, you have to also account for the fact that the university is often paying 5-20k+ for your t

While it might be true that TAs are "undervalued" in their paycheck, you have to also account for the fact that the university is often paying 5-20k+ for your tuition, fees, insurance, retirement, and other costs of being a student and employee. They are also training you to be an academic. Teaching undergrads the fundamentals of your field is very useful towards that end. Graduate school is not something to be undertaken on a whim--it is a huge commitment in time and resources. Ultimately, graduate school is not something to pursue if you're trying to make more cash. I left a lucrative and successful career in IT 5 years ago to pursue my PhD because I wanted to research and teach in academia. I have met many other students who left lucrative positions to come back to school. Universally all these students understand that this career choice is not about the money, it is about lifestyle. The academic tenure-track job market is fiercely competitive and can be brutal. The tenure process is tough for young faculty members. Ultimately, a doctorate is for those who are passionate about pursuing high-quality, highly technical or theoretical research (either in academia, the government, or private industry) or for those who have a passion to teach at the university level. I'm fortunate to have secured a tenure-track position at a research institution starting this autumn. The salary I'll be making will be considerably less than what I would have been making, not to mention the 5 years of not making a decent salary. The ability to continue pursuing my research agenda, collaborate with incredibly bright colleagues of my choosing, work more flexible hours than in my previous jobs, create and develop courses for undergrad and grad students which may have an enormous impact in their careers, and spend more time with my wife and kids makes me very happy with the "value" I'll be getting out of the time and effort it took to pursue a PhD.