I would say it really depends. There are certainly specialized area where a PhD is important, but it's hit or miss. For instance, my team (in a big tech compan

I would say it really depends. There are certainly specialized area where a PhD is important, but it's hit or miss. For instance, my team (in a big tech company) has people with very diverse backgrounds. Some tasks require more expertise, but most of the work will fit a generalist profile. Some teams who are more "researchy" have probably more PhDs. I feel doing a PhD gave me more time to learn things, while my current position is more fast paced and I can't afford to spend 2 weeks just learning new things. Financially, it didn't make sense to do a PhD. It's not even super clear what I learned is helpful now but I'm glad I've had this experience. It gave me a bit more perspective and culture of the field. I don't regret doing it. However, I regret going into academia. Being a professor didn't suit me for many reasons. I'm happier in industry.