What does worth it mean? FWIW PhDs are really more or less required if you want to teach at a university, or do academic research, or do private/industrial rese

What does worth it mean? FWIW PhDs are really more or less required if you want to teach at a university, or do academic research, or do private/industrial research. Most companies that hire researchers look primarily for PhDs. The other reason would be to get to have 5 years to explore and study some subject in depth and become an expert, but that tends to go hand-in-hand with wanting to do research as a career. If you don’t want to teach college or do research, then PhD might be a questionable choice, and if you do it’s not really a choice, it’s just a prerequisite. The two sibling comments both mention the economics isn’t guaranteed - and of course nothing is guaranteed on a case by case basis. However, you should be aware that people with PhDs in the US earn an average of around 1.5x more than people with bachelor’s degrees, and the income average for advanced degrees is around 3x higher than people without a 4-year degree. Patents are pretty well dominated by people with PhDs. There’s lots of stats on all this, but I learned it specifically from a report by the St Louis Fed that examined both the incomes as well as the savings rates for people with different educational attainment levels, and also looked at the changing trends over the years, and the differences by race. Statistically speaking, the economics absolutely favor getting an advanced degree of some kind, whether it’s a PhD or MD or JD or whatever.