> For that reason, I've always found it questionable when PhD vs no PhD is debated solely on the basis of expected income. Maybe I should remove my pink glasses

> For that reason, I've always found it questionable when PhD vs no PhD is debated solely on the basis of expected income. Maybe I should remove my pink glasses, but there is, still, a little more to it, isn't it? There's certainly an argument to take a pay cut to do a PhD if you enjoy doing it. The thing is - go ask real PhD students 2 years into their PhD whether they're enjoying themselves. Given the 50% drop-out rate, you can probably guess what the answers will be...