It is very variable depending on your subject and research focus. Teaching opportunities are not good; there are far too many PhDs awarded compared to job open

It is very variable depending on your subject and research focus. Teaching opportunities are not good; there are far too many PhDs awarded compared to job openings for university positions. It may be a benefit for private industry work, but remember that a PhD is primarily about showing you can perform rigorous scientific research, and compared to a Masters, matters less (or not at all) in jobs where research is not the focus.