Truly speaking in this job market Degree doesn't count that much. I don't know much about other field but in IT field, whether you have bachelor degree or master degree or PHD or post doc, it simply doesn't matter. It all depends on your talent, If you do good programming and have good communication skill you can easily target for high pay , if not nobody looks your resume or what is your degree. Actually recruiters simply don't care what education level you have or your GPA. They just look for experience and your coding skill. Thats all.

You should pursue PHD only if you really want do some research and you are really passionate about it. If you are doing PHD only thinking that you will get better pay then you can stop day dreaming. Reality is a bachelor degree+2 years of real experience can easily beat you in this competitive job market. There is only 3 Es that counts in today's job market that is "EXPERIENCE EXPERIENCE & EXPERIENCE". That's all.