I've been recently faced with the same choice. I'm finishing my master's degree (in Europe, where a master is a prerequisite for a PhD). There were a combinati

I've been recently faced with the same choice. I'm finishing my master's degree (in Europe, where a master is a prerequisite for a PhD). There were a combination of things that decided me. One is that a PhD is not that much of an asset in the workplace. Especially considering the consequent time investment. Another is that you have to deal with all the BS of academia: doing research that doesn't interest you with your promoter, writing papers with little to no interesting content, etc... Academia also has that "symptom of immaturity, the dread of doing what has been done before". There are many topics, often well studied which could use a clarification/simplification of the theory. Or you could make a tool for a particular domain that doesn't suck. All in all, I think I prefer to get a "regular job", and toy on the side.