Posted by: guy_tensed September 20, 2011
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Let's put it simply in terms of Time and Money, not the prestige(for now).
Guy A, makes 70k after Masters degree.
Guy B has a PhD and makes 90k after PhD.
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Guy A will make 70k*4 years(Average) = $280k by the time Guy B will finish his PhD.
Guy A has $280k more than Guy B(has PhD).
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Difference in Salary , GuyB(PhD)- Guy A( Masters) = 90k-70k (Fair enough) = 20k
Guy B will have to race [$280k / $20k] = 14 years to reach where Guy A is.
Again, I am not considering Guy A's Experience and increase in his Salary.
So, 14 years to reach Guy A (Masters) + 4 years (PhD study)==roughly 18 years in total for Guy B to catch Guy A.
Is PhD really worth it in terms of time and money ??
Guy A, makes 70k after Masters degree.
Guy B has a PhD and makes 90k after PhD.
=======================================
Guy A will make 70k*4 years(Average) = $280k by the time Guy B will finish his PhD.
Guy A has $280k more than Guy B(has PhD).
=====================================
Difference in Salary , GuyB(PhD)- Guy A( Masters) = 90k-70k (Fair enough) = 20k
Guy B will have to race [$280k / $20k] = 14 years to reach where Guy A is.
Again, I am not considering Guy A's Experience and increase in his Salary.
So, 14 years to reach Guy A (Masters) + 4 years (PhD study)==roughly 18 years in total for Guy B to catch Guy A.
Is PhD really worth it in terms of time and money ??