My job search is going poorly and I am considering returning to school to do a Ph.D.. I have an M.Sc. in condensed matter (CM) physics and a B.Sc. with a focus on soft matter physics. I am hoping to enter industry in an R&D setting, but as I live in Canada my opportunities to do R&D in CM are limited. I've been told that having an M.Sc. makes you over qualified for B.Sc. positions and under qualified for Ph.D. positions. Do I need a Ph.D. to have a shot at research positions? Will I find myself in the similar position when I graduate? Given the limited research opportunities in Canada is it worth doing a Ph.D in physics and pursuing research positions, or should I start a graduate program in either engineering, computer science, geophysics, or petrophysics (all of which I find interesting and more employable)? Any advice would be appreciated!