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I agree with that, except for the lost income, this recent study [1] showed that your lifetime earnings will quite likely be more if get a PhD (not accounting f
by mahrz 13y ago
I agree with that, except for the lost income, this recent study [1] showed that your lifetime earnings will quite likely be more if get a PhD (not accounting for tuition, not sure about it then). I think that the differences are so marginal in the end, that it should not be money that decides whether you want to go for a PhD or not ...
[1] http://www9.georgetown.edu/grad/gppi/hpi/cew/pdfs/collegepayoff-complete.pdf http://www9.georgetown.edu/grad/gppi/hpi/cew/pdfs/collegepay...
- carterschonwald 13y agothe linked document gives a (LIFETIME) earnings gap in STEM for masters vs phd as < 100k. Considering good negotiation skills can create a delta in salary of more than 10k, thats a difference on the order of statistical noise. You are right, the income element is orthogonal to phd or not. But if one cares about where one lives AND enjoying ones work, more than one cares about teaching at a university somewhere on the planet, they'll be much happier not doing a phd program. Research is fun, learning is fun, engineering great new tech is fun. A phd is a university teaching certificante, not a magic "i can do good research and build great tech" certificate (though they can be highly correlated.).