gravenewworld
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ZapperZ said:But you also can't assume that people who pursue a Ph.D simply want to have those extra letters after their name. That's presumptuous and insulting to those who do. In physics, if you do it simply for the "prestige" and standing, you'll never get it, because it is just way to difficult and demanding to do it for the wrong reason.
And if we want to do anecdotal evidence of what someone with a Ph.D can or cannot do versus someone with just a B.Sc can and cannot do, I can come up with boatload of examples as well. That proves nothing. The fact is that
(i) there are jobs that require a Ph.D in physics
(ii) there are jobs that do not require a Ph.D in physics
(iii) there are jobs that don't give a damn what you have, but rather that you can DO
If I offend anyone by what I say, then I apologize. I am just usually very cynical, it is just the way that I am. I didn't mean to intentionally offend anyone though. Believe me, I have the utmost respect for my professors at my university.
I don't know what it is like in industry for physics because I am a chemist. However, working as a chemist, I have gained some insight into what it is like in industry for the sciences in general. The chemical industry is HUGE when you compare it to what industry is like for a physicist or biologist. It is extremely tough out there for Phds for all the reasons already mentioned. You have to seriously ask yourself why you want one. If you just want to study advanced topics in your desired field, I'd say that is the wrong reason why you should get a PhD. I have a BS in math, but I don't need to go to grad school to study advanced math. I read graduate level math texts every once in a while and learn all the time. You don't need school in order to learn on your own. If I ever get hung up on an idea that I don't understand I simply email my undergrad math professors with my question and they always help me out. They are always extremely glad to see that after I have graduated that I still have an interest in math and are happy to answer questions.
Yes there are jobs that require a PhD. But just remember, for that position there are 30 other applicants for that spot, not only are you competing against people that have graduated from places like MIT, Harvard, etc. you are competing against a TON of individuals who have gotten their PhDs from over seas. 99% of people who go to grad school aren't fortunate enough to go to the top 5 schools in the country and will have extreme difficulty getting a job with their PhD.
While someone is in grad school for 5 years, then doing a post doc for another 4 years I have already worked for almost 10 years and have made $500,000+, bought a decent house and car, started a family, and my retirement account has compounded exponentially for all that time, while someone who has decided that they want a PhD only starts making real money by the time they are 30-35. And by then with 10+ years experience I could probably make about 60-65 grand, while a fresh PhD would start at around 60-70 grand. All that time too I have the opportunity to earn a Masters degree while my company pays for everything which could even increase my salary further.
Also remember, that if you have any student loans, the interest piles on the entire time while you are pursuing a PhD which can add on thousands of dollars that will be due on a student loan.
When I was an undergrad I was absolutely dead set on getting a PhD. That was until I worked at an internship my Jr. year. That is when the real world actually hit me over the head. I saw how extremely tough it is in industry to get a job with a PhD and the enormous sacrifice it involves. No thanks, that is not my cup of tea. I'd rather let someone else suffer for their PhD and do the work for them (which is essentially what I do), that way I can get paid more, learn PhD level chemistry everyday on my own, and live with much less stress.
I would highly recommend that everyone who is an undergrad now, but wants to go to grad school for a PhD live out in the real world first for 2 or 3 years. Grad school will always be there for you, you can always go back if you want. See what it is like to pay rent/mortgage, student loans, car payments, utilities, groceries, etc. After that, if you think you are comfortable living on 20-25 grand per year, then by all means go to grad school.