Main takeaway: earn a masters, go into industry, get loads of experience and do a PhD part time. You'll get the best of both worlds. That's what I have done.
I know people doing exactly that who have no time for their phd and end up working 70 hours a week. If you want do work all of your time go for it. If not just do your phd and commit your time into it. You still work for 35 years after it so the 3-4 years getting paid little don't matter too much. If you do the phd in the right field its valuable education that you won't get in a job. Nobody pays you to learn the maths in a specialized field for 1 year or so. So I think doing a phd can be absolutely worth it, if there is a plan behind it, not just doing it because of the title or because you have nothing better to do
"omg guys why you dont just get your parents to pay for harvard and get your dad to call his friends and get you a job, best of both worlds" sincerely, jarrodsio
I want a PhD in chemistry not because it's financially beneficial to me, but rather because it's a testament to my discipline and sincere curiosity and passion for chemistry. I want to learn and go as far as I can for the subject. I understand the apprehension and warning however. It's not exactly great for a career more people graduate with chemistry degrees than there are jobs for, and reality catches up with everyone eventually. We can make op-eds about the importance of education as a means to itself but when you can't keep a roof over your head, or fix the holes in your teeth it has a funny way of taking precedence in your decisions. I resent society makes people make this choice of sacrificing their interest in education. It seems immoral, for me I just can't shake the passion. I have to pursue it no matter what.
When you do PhD don't think about money(during or after ) ... its your desire ...if money is a priority then focus on getting a job . Also don't measure success in monetary terms only .That could be the present feeling only based on watching others earn more with less effort. Issue with PhD is that it takes time and provides little money and many get frustrated with that. Need to be patient in life . Skills give returns sooner or sometimes even much later.
I once wanted to pursue a phd in economics and after doing the math I realized im better off with a MBA and staying on industry. I think PhDs are good for a very small niche. You also earned a new subscriber.
I'm in the final year of my PhD and thinking of transferring to get out with an MSc. After some years of research, I realized that I don't love doing science that much. My research is about quantitative analysis, so it's kind of lucky for me because I had to learn some programming, and I found that I love doing it; I am also faster than some, if not many, of my research friends at doing the code. I'm slower than the rest of my lab mates when it comes to reading literature and synthesize them to write up the papers. I haven't made a decision yet but, your video gives insights.
Yes just quit Ph.D program. Ph.D is completely useless for working in IT sector. Masters degree might be slightly useful, but Ph.D might actually be a disadvantage.
For programming-related jobs, degrees aren't that critical since companies care more about skills than degrees. None of my friends who work for big tech (Meta, Amazon, Microsoft, etc.) have a PhD. The most valuable thing my PhD taught me is that the degree itself isn't important, but the education and learning are. So, I personally don’t think not finishing a PhD is something bad at all.
Thanks for watching! That’s great to hear! A PhD does provide a lot of transferable skills, and I agree that having a good mentality is more important than anything else.
It really depends on your circumstances. In the majority of cases I've seen, the academic context is pretty broken (morally and practically) and not set up to support people adequately. In that context, a PhD is really just being paid very little to be lost for 3-4 years being pretty unproductive (because you are lost) during which time you'll probably suffer from depression, lack of motivation and anxiety. If you are lucky enough to be part of a good community, and to have a good supervisor, then it could be a worthwhile experience. The trouble is that it is a big gamble, with a small per cent chance of having a good experience and unfortunately, you don't have anywhere enough experience to know how to evaluate the situation unless you've been through it yourself. This is not true in every field though.
well of course someone who spent their life in academia thinks academia is "focusing on your mind" rather than on campus politics and also we all know people without a phd never focus on their mind, they just contemplate the flight path of a house fly all day pretty much
If you are born into a poor family and suffer from existencial anxeties because you dont have much saved up, then money is at first always no 1 priority
I think it comes down to making an informed decision. Anyone who wants to join a PhD should be aware of the low financial incentives it brings compared to the industry. However, anyone who is passionate about research and has an acumen for it may compromise with the low financial muscle they would have in favour of the freedom to explore their passion. Some people are not driven by money. An academic lifestyle does bring a good dynamic to life. Add to that the perks of travelling one gets to enjoy for communicating their research. Many of these trips are sponsored by their affiliation. So, if you look past the money, it is not that bad for some people who have the right knack for it. The key is to choose wisely what you really want in life.
Yes, there are many ways to discuss the topic, and of course, there are arguments on both sides. Eventually, it all comes down to the person who is making the decision for themselves.
I recently just decided to graduate with my Masters instead of finishing the Ph.D. It was hard decision to make, but I am betting that I will find a job and work my way up to a great career. The first jobs will probably suck but since they’re my first ones that’s ok. In all cases I will make making double than what I was making as a grad student
Thanks a ton for sharing your experience and thoughts on pursuing a PhD! When I quit my PhD I always had a concern that whether I would be hired in Industry or not. Whether I would be able to make a career transition at this age, and so on. The only reason behind my concern is the fact that if you're a PhD then definitely you'll be given preference in Industry as compared to any Master's. But this video had cleared all my doubts. Thank you so much once again! ❤️
You are welcome! I'm glad that you found the video helpful! All my friends with MS degrees are thriving in industry but PhDs (including myself) are struggling since satying in school for longer is really a kind of disadvantage 😅.
This video encouraged me, I'm going to pursue a PhD. Thanks. I value teaching, and I value knowledge above all else. Your experience is unfortunate. Frankly, it sounds like you went into that PhD for the wrong reasons and I empathize I hope your outlook improves. I hope you get the best job at the highest level with the highest pay exclusively designed for your PhDs. You're not failing, you're just in the buffering stage. It's not too late to try something else that PhD title still shows your commitment and intellect. It shows you have the determination to succeed in your endeavors.
Thank you so so much for this video. I have a background in psych and doing my MSc in neuro., doing my thesis in optogenetics in primates and been offered to continue a PhD. So according to you, all the ephys, opto etc. methods are pretty useless in industry ? Thank you for the insights. In any case I think my mind was already set on going back to become a psychologist! +subbed
Thanks for your kind comment. My entire PhD dissertation was based on in vivo optogenetics and in vivo ephys. These two techniques are rare in industry but not completely useless. Some pharma do use patch clamp techniques (in vitro ephys in cells), but optogenetics is truly rare. There is a company called MapLight Therapeutics (Karl Deisseroth is one of the founders) working on turning optogenetics into a therapeutic approach. Industry doesn’t prioritize advanced (aka fancy) techniques like these. Instead, they focus on methods that deliver reproducible results quickly, easily, and at a low cost (both in time and $$$). For companies, the cost of using advanced techniques is simply too high (especially time-wise). A straightforward way to see this is by checking job postings on LinkedIn to see what technical skills the industry is seeking. I haven’t seen ephys or optogenetics mentioned in job postings at all for years. Personal opintion: phycology is more transferable than wet lab in any bio majors. and, good luck!
A PhD is journey that opens up doors to various research careers, becoming a tenure seeking professor is only ONE of the many options. If you don't completely change your domain, the knowledge and skills from academia are very transferrable to an industry research position, and are extremely valued in fact. Heck, even within academia, you can take up a non-teaching research position as a research associate and so on in one of the research centres/affiliate organizations of good universities. This is coming from an Economics post graduate student planning to pursue a PhD (without ever getting into professorship). For my field, there are countless academic as well as non academic policy/quantitative research positions that would demand at least a Masters degree if not a PhD. I'm quite sure that this is generalizable to the hard sciences as well to an extent. The point being that, I really do think that spreading this idea of "PhD only for teaching" is doing a disservice to anybody who really enjoys research and cares less about the monetary returns. People having second thoughts about pursuing a PhD shouldn't start one to begin with!
Agree! TAnd, a friend of mine is a recent PhD graduate in supply chain management and was hired as a tenure-track faculty member during his last semester. The route to a tenure-track position is quite different for life science and business-related terminal degrees, but it's just that the fields operate quite differently.
@@emmanuelameyaw9735 Naturally, some econ fields are more lucrative than others and it also attracts the people who want higher and higher incomes, for example financial/acturial economics. I'm into development economics and you would be kidding yourself if you expect a higher package on average than say a consulting firm more on the corporate end. That said, exceptions ofcourse do exist. Economics is too vast a field to ignore the various heterogenities that come with different sub-fields and whether the job is more corporate or academic (less scope of career growth in comparison).
@@emmanuelameyaw9735 In my case, I had the option to take an entry level position at a renowned consulting firm, and the returns would be much higher than what I can hope to earn at least till before my PhD begins. It is definitely a personal choice driven by personal reasons.
@@emmanuelameyaw9735 It really depends on the field in question under Economics. Econ is too vast of a discipline to be able to ignore the various heterogenities that come with working under different subfields + whether the job is more corporate or academic. For example, a financial/acturial, even a macro econ position is on average more lucrative than others and it also attracts people who prioritize higher incomes in that sense. I'm personally into development research, and I can assure you that you can't, on average, expect a higher package than say a consulting firm functioning more on the corporate end of the spectrum. That said, ofcourse, exceptions do exist. But, in my case, I had a shot at an entry level consulting position after my undergrad, which would have paid me way more than what I can hope for, at least till before my PhD starts. So, it's a personal choice based on personal reasons for many people.
Yes you are right. I am three decades from when I spent several years working towards getting a Ph.D in materials science. Completely useless. I already knew what I wanted to do in high school but got side tracked in college into completely wrong path. Follow your heart and interests instead of trying to conform to other people's expectation of you.
Thanks for the advice. This convinces me even further that I won't do it. PhD students in Spain are treated like garbage, so I prefer working and doing my stuff at home (benefits of software) and maybe if I cook up something interesting I will present it as a PhD putting the lowest possible amount of work into it.
PhDs in the Netherlands are really quite well paid. For the first year your starting salary is €32k and by the fourth year its €42k. I don't necessarily want to stay in academia unless the opportunity arises, but when I was offered a PhD position I jumped at it(: Also, as far as I'm aware, in my field it does open a lot of doors (also in industry).
My husband is a PhD in economics and makes $225/hour crunching numbers or $450/hour doing depositions and court testimony as an expert witness. If he works an hour a day that's plenty of money for us with a family of 4. All three houses in 2 countries are paid off, plenty of money in retirement, his airplane is parked out front, his boat is docked 10 minutes away, we have no debts and both sons were admitted to college at age 13 on scholarships.
I think at a young age you had no one to help you decide what your real options were. I got lucky. I excelled at math, got a 2 year electronics degree, then an EE degree. At that point I new I wanted to program computers so I got an MSCS degree. I think the math and physics studies during my EE degree helped me excel while earning my MSCS degree. And I think the path I ended up taking resulted in me becoming a one of the top programmers everywhere I have worked for the past 15 years. You are young and will likely work for 30 more years. Your PhD experience has prepared you for ANY career change you make. By now you are a disciplined researcher who could master any subject. If I were in your position, I would chose computer engineering (chip design), computer graphics (which drives chip design), or AI, and would obtain an MS degree. With your education you would likely be able to achieve that in 4 years or less. But you know the saying: It is not the destination, it is the journey that counts. Subscribed.
I realized that academia was a racket 30 years ago during grad school when I noticed that a 30-page paper suitable for "Physical Review" would get submitted as ten 3-page papers to "Physics Letters".
I am a patent attorney (US patent attorney working in Taiwan) who has worked with many PhDs who did not want to become researchers. I was lucky enough to work summer jobs and a coop semester in research and finally realize it's not for me (otherwise I, too, would have a PhD). I love working with inventors and hearing about their inventions but would not want their jobs. Ironically, I have been to class reunions with PhD classmates who no longer work in engineering- some doing software sales (after a materials PhD) for security software or financial advisor/financial analyst. Meanwhile, I actually get to use my engineering degree to understand the inventions I write about. I also worked at the Patent Office while going to law school at night. Anyway, it's something (patent law) that you can look into, they hire technical advisors all the time at law firms and love PhDs since you can read technical papers and find information- useful if you are trying to knock out a competitor's patent. Best of luck to you.
"I love working with inventors and hearing about their inventions but would not want their jobs." - I resonate with this! Thank you for the advice! I truly appreciate your insight!
thanks for watching! Ultimately, it depends on what kind of neuroscience research you would like to focus on, since neuroscience is actually a very broad field. 1. email the professors and even their graduate students to show your interest in joining the lab. Don't get discouraged if they don't respond, as they are extremely busy. Follow up if you don't hear back in two weeks. 2. Most labs interview for undergraduate positions 4-6 weeks before the semester starts, so make sure you contact the lab during this time period. Contacting them mid-semester has a 95% chance of being a no... 3. I know it's very competitive to find undergraduate research experience now since there are always more undergrads than available positions. However, labs doing animal behavior training usually have a higher need for undergraduates, especially those focused on the motor system. I was doing motor system research, and we typically had at least 20 undergrads per semester to run all projects (3-5 projects). Hope these tips help and good luck!
Additionally, with a PhD if at some point you decide you do want to leave it can be hard if you don't have any financial background. In general I do think I regret my PhD, but I think I would regret it less if I had worked for a few years, saved up some money, and then started my PhD. This way if during my PhD I didn't like it I have some finances to fall back on while I decide what to do next. However, because I went to my PhD right out of undergrad, I have almost no savings and leaving now would be hard. At least if I finish I can work a PhD level paying position while I work on pivoting out, but I wish I had decided to make a bit of money first because I think pivoting within some savings would be way less stressful than having so little money while trying to leave my field.
Thank you for sharing your story and viewpoint! Best of luck on your journey! I will try to create a community group for those who would like to connect in a more private setting as soon as possible. Life is currently crazy, but I will do my best to start building other ways to connect on different platforms. Saty tuned!
I recently completed a masters in physics and currently enrolled for another masters in nanoelectronics and nanoengineering. I am also confused whether to go for a PhD or not as getting a faculty job is getting very difficult nowadays. Even for a community college, when there was a vacant position, over 30 applicants were there with half of them who did their post docs from either usa or europe.
The tenure-track faculty job market in the US is extremely competitive, even though there has been a slow increase in the number of positions available in recent years. While a tenure-track faculty position is still worth pursuing, it is better to have a plan B given the current market conditions.
I agree that for most cases a PhD is not needed if you want to pursue a career in industry, but there are specific positions in which it's very hard to compete with other candidates without a PhD. The most obvious example is the quant position at hedge funds, banks,... - if you want to land a position in a leading firm, you cannot fight without a PhD against big brains with PhD at least.
It's a simple choice. If making lots of money is the goal, a PhD is not the answer. Alternatively, if you want to go as far as you can in mastering a narrow topic, then it is the answer.
Getting grants is the most frustrating part of academics. No grant support means little to no funding for research, no research means no tenure, no tenure means no secure job. A single new faculty members with limited resources and a few published papers must compete with established labs with far greater publications, large research staff and far greater resources.
The research funding system is somewhat flawed because those with more resources have greater capabilities to run research, which then helps them secure even more funding in the future. This creates a snowball effect... The rich stays rich; the poor stays poor... Although there are some grants specifically for new faculty, the process remains highly competitive.
oh, MS in the US is truly expensive (I paid for mine and it was super expensive...) There are some people master's out their PhD. This is not a good advice but there are alwasy some people does it tho. 🤫
A doctorate will only help if you can market yourself. Unfortunately, a "brilliant mind" will have to feel the pulse of pop culture, and create ideas and products that appeal to the masses..
But you have the prestige of a doctorate in Neuroscience! That is invaluable. I too completed a doctorate in Neuroscience, and my career has nothing to do with my field.
Thanks for watching! It's actually very common for PhDs to do something not related to their degrees at all, as PhDs are highly specialized, making it easy to step outside of their niche.
Just get a BS and get into the work force. People working for Master's / PhD have money and if you do go for it but if you will have debt to do it please don't.
How does a PhD dissertation compare to an MD thesis in terms of rigor? Is it true that-unlike a PhD dissertation-an MD thesis does not require original research? 🏛📜✒
Thanks for watching! I don't fully understand your question, and I can only answer from a U.S. perspective. In the U.S., a dissertation and other institutional criteria are the minimum requirements for PhD graduation. For an MD, they need to pass many national exams and meet institutional requirements to graduate. So, while both the PhD and MD are terminal degrees, the paths to obtaining them are very different.
Main takeaway: earn a masters, go into industry, get loads of experience and do a PhD part time. You'll get the best of both worlds. That's what I have done.
Thanks for the advice!
I'm stuck at the second step. Any suggestions?
I know people doing exactly that who have no time for their phd and end up working 70 hours a week. If you want do work all of your time go for it. If not just do your phd and commit your time into it. You still work for 35 years after it so the 3-4 years getting paid little don't matter too much. If you do the phd in the right field its valuable education that you won't get in a job. Nobody pays you to learn the maths in a specialized field for 1 year or so. So I think doing a phd can be absolutely worth it, if there is a plan behind it, not just doing it because of the title or because you have nothing better to do
Lol got an uncle who tried to do the same in CS, and he definitely wouldn't recommend it.
"omg guys why you dont just get your parents to pay for harvard and get your dad to call his friends and get you a job, best of both worlds"
sincerely, jarrodsio
I want a PhD in chemistry not because it's financially beneficial to me, but rather because it's a testament to my discipline and sincere curiosity and passion for chemistry. I want to learn and go as far as I can for the subject. I understand the apprehension and warning however. It's not exactly great for a career more people graduate with chemistry degrees than there are jobs for, and reality catches up with everyone eventually. We can make op-eds about the importance of education as a means to itself but when you can't keep a roof over your head, or fix the holes in your teeth it has a funny way of taking precedence in your decisions. I resent society makes people make this choice of sacrificing their interest in education. It seems immoral, for me I just can't shake the passion. I have to pursue it no matter what.
When you do PhD don't think about money(during or after ) ... its your desire ...if money is a priority then focus on getting a job . Also don't measure success in monetary terms only .That could be the present feeling only based on watching others earn more with less effort. Issue with PhD is that it takes time and provides little money and many get frustrated with that. Need to be patient in life . Skills give returns sooner or sometimes even much later.
I once wanted to pursue a phd in economics and after doing the math I realized im better off with a MBA and staying on industry. I think PhDs are good for a very small niche. You also earned a new subscriber.
Thanks for subscribing my channel!
Great video and advice.I have completed PhD in Biotechnology,you are sharing the real senerio.keep it up.
thank you! really appreciate your encouragement!
My cousin has a PHD in genetics and she found out quickly it was not worth it.
I'm in the final year of my PhD and thinking of transferring to get out with an MSc. After some years of research, I realized that I don't love doing science that much. My research is about quantitative analysis, so it's kind of lucky for me because I had to learn some programming, and I found that I love doing it; I am also faster than some, if not many, of my research friends at doing the code. I'm slower than the rest of my lab mates when it comes to reading literature and synthesize them to write up the papers. I haven't made a decision yet but, your video gives insights.
Yes just quit Ph.D program. Ph.D is completely useless for working in IT sector. Masters degree might be slightly useful, but Ph.D might actually be a disadvantage.
For programming-related jobs, degrees aren't that critical since companies care more about skills than degrees. None of my friends who work for big tech (Meta, Amazon, Microsoft, etc.) have a PhD. The most valuable thing my PhD taught me is that the degree itself isn't important, but the education and learning are. So, I personally don’t think not finishing a PhD is something bad at all.
I have an MA, MS, and a PhD. They were all worth it! Focusing on your mind and not your income is a great long term investment.
Thanks for watching! That’s great to hear! A PhD does provide a lot of transferable skills, and I agree that having a good mentality is more important than anything else.
It really depends on your circumstances. In the majority of cases I've seen, the academic context is pretty broken (morally and practically) and not set up to support people adequately. In that context, a PhD is really just being paid very little to be lost for 3-4 years being pretty unproductive (because you are lost) during which time you'll probably suffer from depression, lack of motivation and anxiety. If you are lucky enough to be part of a good community, and to have a good supervisor, then it could be a worthwhile experience. The trouble is that it is a big gamble, with a small per cent chance of having a good experience and unfortunately, you don't have anywhere enough experience to know how to evaluate the situation unless you've been through it yourself. This is not true in every field though.
well of course someone who spent their life in academia thinks academia is "focusing on your mind" rather than on campus politics
and also we all know people without a phd never focus on their mind, they just contemplate the flight path of a house fly all day pretty much
If you are born into a poor family and suffer from existencial anxeties because you dont have much saved up, then money is at first always no 1 priority
I think it comes down to making an informed decision. Anyone who wants to join a PhD should be aware of the low financial incentives it brings compared to the industry. However, anyone who is passionate about research and has an acumen for it may compromise with the low financial muscle they would have in favour of the freedom to explore their passion. Some people are not driven by money. An academic lifestyle does bring a good dynamic to life. Add to that the perks of travelling one gets to enjoy for communicating their research. Many of these trips are sponsored by their affiliation. So, if you look past the money, it is not that bad for some people who have the right knack for it. The key is to choose wisely what you really want in life.
On point!
Yes, there are many ways to discuss the topic, and of course, there are arguments on both sides. Eventually, it all comes down to the person who is making the decision for themselves.
I recently just decided to graduate with my Masters instead of finishing the Ph.D.
It was hard decision to make, but I am betting that I will find a job and work my way up to a great career.
The first jobs will probably suck but since they’re my first ones that’s ok. In all cases I will make making double than what I was making as a grad student
Thanks a ton for sharing your experience and thoughts on pursuing a PhD! When I quit my PhD I always had a concern that whether I would be hired in Industry or not. Whether I would be able to make a career transition at this age, and so on. The only reason behind my concern is the fact that if you're a PhD then definitely you'll be given preference in Industry as compared to any Master's. But this video had cleared all my doubts. Thank you so much once again! ❤️
You are welcome! I'm glad that you found the video helpful! All my friends with MS degrees are thriving in industry but PhDs (including myself) are struggling since satying in school for longer is really a kind of disadvantage 😅.
This video encouraged me, I'm going to pursue a PhD.
Thanks. I value teaching, and I value knowledge above all else.
Your experience is unfortunate.
Frankly, it sounds like you went into that PhD for the wrong reasons and I empathize I hope your outlook improves.
I hope you get the best job at the highest level with the highest pay exclusively designed for your PhDs.
You're not failing, you're just in the buffering stage.
It's not too late to try something else that PhD title still shows your commitment and intellect.
It shows you have the determination to succeed in your endeavors.
Thanks! Best of luck to your TT faculty journey.
Thanks for sharing! Planning for a PhD in ML myself.
ML is a hot topic now! Best of luck to you!
@@FailingThirty Thank you!
Thank you so so much for this video. I have a background in psych and doing my MSc in neuro., doing my thesis in optogenetics in primates and been offered to continue a PhD. So according to you, all the ephys, opto etc. methods are pretty useless in industry ? Thank you for the insights.
In any case I think my mind was already set on going back to become a psychologist!
+subbed
Thanks for your kind comment. My entire PhD dissertation was based on in vivo optogenetics and in vivo ephys. These two techniques are rare in industry but not completely useless. Some pharma do use patch clamp techniques (in vitro ephys in cells), but optogenetics is truly rare. There is a company called MapLight Therapeutics (Karl Deisseroth is one of the founders) working on turning optogenetics into a therapeutic approach.
Industry doesn’t prioritize advanced (aka fancy) techniques like these. Instead, they focus on methods that deliver reproducible results quickly, easily, and at a low cost (both in time and $$$). For companies, the cost of using advanced techniques is simply too high (especially time-wise). A straightforward way to see this is by checking job postings on LinkedIn to see what technical skills the industry is seeking. I haven’t seen ephys or optogenetics mentioned in job postings at all for years.
Personal opintion: phycology is more transferable than wet lab in any bio majors.
and, good luck!
A PhD is journey that opens up doors to various research careers, becoming a tenure seeking professor is only ONE of the many options. If you don't completely change your domain, the knowledge and skills from academia are very transferrable to an industry research position, and are extremely valued in fact. Heck, even within academia, you can take up a non-teaching research position as a research associate and so on in one of the research centres/affiliate organizations of good universities. This is coming from an Economics post graduate student planning to pursue a PhD (without ever getting into professorship). For my field, there are countless academic as well as non academic policy/quantitative research positions that would demand at least a Masters degree if not a PhD. I'm quite sure that this is generalizable to the hard sciences as well to an extent. The point being that, I really do think that spreading this idea of "PhD only for teaching" is doing a disservice to anybody who really enjoys research and cares less about the monetary returns. People having second thoughts about pursuing a PhD shouldn't start one to begin with!
Agree! TAnd, a friend of mine is a recent PhD graduate in supply chain management and was hired as a tenure-track faculty member during his last semester. The route to a tenure-track position is quite different for life science and business-related terminal degrees, but it's just that the fields operate quite differently.
Are you really econ post grad? In economics and economic models, nobody care less about money... Everyone works because of money.
@@emmanuelameyaw9735 Naturally, some econ fields are more lucrative than others and it also attracts the people who want higher and higher incomes, for example financial/acturial economics. I'm into development economics and you would be kidding yourself if you expect a higher package on average than say a consulting firm more on the corporate end. That said, exceptions ofcourse do exist. Economics is too vast a field to ignore the various heterogenities that come with different sub-fields and whether the job is more corporate or academic (less scope of career growth in comparison).
@@emmanuelameyaw9735 In my case, I had the option to take an entry level position at a renowned consulting firm, and the returns would be much higher than what I can hope to earn at least till before my PhD begins. It is definitely a personal choice driven by personal reasons.
@@emmanuelameyaw9735 It really depends on the field in question under Economics. Econ is too vast of a discipline to be able to ignore the various heterogenities that come with working under different subfields + whether the job is more corporate or academic. For example, a financial/acturial, even a macro econ position is on average more lucrative than others and it also attracts people who prioritize higher incomes in that sense. I'm personally into development research, and I can assure you that you can't, on average, expect a higher package than say a consulting firm functioning more on the corporate end of the spectrum. That said, ofcourse, exceptions do exist. But, in my case, I had a shot at an entry level consulting position after my undergrad, which would have paid me way more than what I can hope for, at least till before my PhD starts. So, it's a personal choice based on personal reasons for many people.
Yes you are right. I am three decades from when I spent several years working towards getting a Ph.D in materials science. Completely useless. I already knew what I wanted to do in high school but got side tracked in college into completely wrong path. Follow your heart and interests instead of trying to conform to other people's expectation of you.
Thank you for your comments!
Thanks for the advice. This convinces me even further that I won't do it. PhD students in Spain are treated like garbage, so I prefer working and doing my stuff at home (benefits of software) and maybe if I cook up something interesting I will present it as a PhD putting the lowest possible amount of work into it.
PhDs in the Netherlands are really quite well paid. For the first year your starting salary is €32k and by the fourth year its €42k. I don't necessarily want to stay in academia unless the opportunity arises, but when I was offered a PhD position I jumped at it(:
Also, as far as I'm aware, in my field it does open a lot of doors (also in industry).
Woah, wish that US could do the same for academia trainees!
The research you did for the PhD will be useful to the society.
Thanks!
My husband is a PhD in economics and makes $225/hour crunching numbers or $450/hour doing depositions and court testimony as an expert witness.
If he works an hour a day that's plenty of money for us with a family of 4. All three houses in 2 countries are paid off, plenty of money in retirement, his airplane is parked out front, his boat is docked 10 minutes away, we have no debts and both sons were admitted to college at age 13 on scholarships.
I have PhD. No regrets.
I didn't study though, we have option of preparing the dissertation, passing exams and defending dissertation to get PhD
I think at a young age you had no one to help you decide what your real options were. I got lucky. I excelled at math, got a 2 year electronics degree, then an EE degree. At that point I new I wanted to program computers so I got an MSCS degree. I think the math and physics studies during my EE degree helped me excel while earning my MSCS degree. And I think the path I ended up taking resulted in me becoming a one of the top programmers everywhere I have worked for the past 15 years. You are young and will likely work for 30 more years. Your PhD experience has prepared you for ANY career change you make. By now you are a disciplined researcher who could master any subject. If I were in your position, I would chose computer engineering (chip design), computer graphics (which drives chip design), or AI, and would obtain an MS degree. With your education you would likely be able to achieve that in 4 years or less. But you know the saying: It is not the destination, it is the journey that counts. Subscribed.
Thanks for sharing your experience!
Focus on the journey rather the end goal. You learnt something from this journey when studying for your PhD
I realized that academia was a racket 30 years ago during grad school when I noticed that a 30-page paper suitable for "Physical Review" would get submitted as ten 3-page papers to "Physics Letters".
Better to get another master or bachelor. PhD is not time and cost effective.
I am a patent attorney (US patent attorney working in Taiwan) who has worked with many PhDs who did not want to become researchers. I was lucky enough to work summer jobs and a coop semester in research and finally realize it's not for me (otherwise I, too, would have a PhD). I love working with inventors and hearing about their inventions but would not want their jobs. Ironically, I have been to class reunions with PhD classmates who no longer work in engineering- some doing software sales (after a materials PhD) for security software or financial advisor/financial analyst. Meanwhile, I actually get to use my engineering degree to understand the inventions I write about. I also worked at the Patent Office while going to law school at night. Anyway, it's something (patent law) that you can look into, they hire technical advisors all the time at law firms and love PhDs since you can read technical papers and find information- useful if you are trying to knock out a competitor's patent. Best of luck to you.
"I love working with inventors and hearing about their inventions but would not want their jobs." - I resonate with this! Thank you for the advice! I truly appreciate your insight!
I can totally relate to your story. Economically the PhD is not worth it.
Wow interesting video, thank you so much for the career advice!! Do you have any tips on getting neuroscience research experience as an undergrad?
thanks for watching! Ultimately, it depends on what kind of neuroscience research you would like to focus on, since neuroscience is actually a very broad field.
1. email the professors and even their graduate students to show your interest in joining the lab. Don't get discouraged if they don't respond, as they are extremely busy. Follow up if you don't hear back in two weeks.
2. Most labs interview for undergraduate positions 4-6 weeks before the semester starts, so make sure you contact the lab during this time period. Contacting them mid-semester has a 95% chance of being a no...
3. I know it's very competitive to find undergraduate research experience now since there are always more undergrads than available positions. However, labs doing animal behavior training usually have a higher need for undergraduates, especially those focused on the motor system. I was doing motor system research, and we typically had at least 20 undergrads per semester to run all projects (3-5 projects).
Hope these tips help and good luck!
@@FailingThirty Thank you so much!!
Additionally, with a PhD if at some point you decide you do want to leave it can be hard if you don't have any financial background. In general I do think I regret my PhD, but I think I would regret it less if I had worked for a few years, saved up some money, and then started my PhD. This way if during my PhD I didn't like it I have some finances to fall back on while I decide what to do next. However, because I went to my PhD right out of undergrad, I have almost no savings and leaving now would be hard. At least if I finish I can work a PhD level paying position while I work on pivoting out, but I wish I had decided to make a bit of money first because I think pivoting within some savings would be way less stressful than having so little money while trying to leave my field.
Thank you for sharing your story and viewpoint! Best of luck on your journey! I will try to create a community group for those who would like to connect in a more private setting as soon as possible. Life is currently crazy, but I will do my best to start building other ways to connect on different platforms. Saty tuned!
I recently completed a masters in physics and currently enrolled for another masters in nanoelectronics and nanoengineering. I am also confused whether to go for a PhD or not as getting a faculty job is getting very difficult nowadays. Even for a community college, when there was a vacant position, over 30 applicants were there with half of them who did their post docs from either usa or europe.
The tenure-track faculty job market in the US is extremely competitive, even though there has been a slow increase in the number of positions available in recent years. While a tenure-track faculty position is still worth pursuing, it is better to have a plan B given the current market conditions.
@@FailingThirty I agree
Hi @FailingThirty, will you be open to granting a brief interview on this subject?
would love to! You can send more details about the interview to failingthirty30@gmail.com
I agree that for most cases a PhD is not needed if you want to pursue a career in industry, but there are specific positions in which it's very hard to compete with other candidates without a PhD. The most obvious example is the quant position at hedge funds, banks,... - if you want to land a position in a leading firm, you cannot fight without a PhD against big brains with PhD at least.
I agree. Same as the biotech/pharma industry. It's rarely to see C-level posistions without a PhD.
Thanks for clear crystal reality check, btw I am working in photonic chip designing in hope to transition to industry later😢.
Thanks for watching and best of luck to your transition!
Photonic chip design... interesting.
Where are you pursuing it??
It's a simple choice. If making lots of money is the goal, a PhD is not the answer. Alternatively, if you want to go as far as you can in mastering a narrow topic, then it is the answer.
I want to do it because I want to research sth and prove a point. But honestly im a bit worried about what happens afterwards too
Thank you for sharing yout experience
Thanks for watching! Hope the video is informative to you!
Getting grants is the most frustrating part of academics. No grant support means little to no funding for research, no research means no tenure, no tenure means no secure job. A single new faculty members with limited resources and a few published papers must compete with established labs with far greater publications, large research staff and far greater resources.
The research funding system is somewhat flawed because those with more resources have greater capabilities to run research, which then helps them secure even more funding in the future. This creates a snowball effect... The rich stays rich; the poor stays poor... Although there are some grants specifically for new faculty, the process remains highly competitive.
Truth ..!
Because your phd project is not closed to tech-capital ,one phd runs a company, and the other gets injured by the experiment.
Anyone pursuing or pursued phd in management? Need your opinion as well!
I don't think I'd want a PhD from the University of Texas at Dallas, either.
That's life we make choices and live with the consequences. Student loan debt or wasted time ect.
Can I get phd without masters degree? Cuz it seems expensive to get masters
In the US, you can. In Taiwan, you can't. In other country, I'm not sure. Most PhD programs in the US eventually grant graduates both MS and PhD.
Ph.D. is not worth in business world. Theory is not used in business and economic world.
👏👏👏
I also want to pursue my master's degree but I have no money. 😑
oh, MS in the US is truly expensive (I paid for mine and it was super expensive...) There are some people master's out their PhD. This is not a good advice but there are alwasy some people does it tho. 🤫
Biotech industry is one of the few industries where a PhD is worth it. Most of the interesting roles require a PhD.
A doctorate will only help if you can market yourself. Unfortunately, a "brilliant mind" will have to feel the pulse of pop culture, and create ideas and products that appeal to the masses..
agree! personal branding is really important.
"Starting your company is still the best path to becoming a billionaire" - FORBES.
agree, the best job is to create your own job
@@FailingThirty Yes, indeed, good to know, thanks.
But you have the prestige of a doctorate in Neuroscience! That is invaluable. I too completed a doctorate in Neuroscience, and my career has nothing to do with my field.
Thanks for watching! It's actually very common for PhDs to do something not related to their degrees at all, as PhDs are highly specialized, making it easy to step outside of their niche.
Sooo I'd like to know what is your career?
Earning a Phd on frog mating habits, was a great idea = Criminal institutions are doing great.
She doesn't mention the chance your PhD will become obsolete and you will have to return to school.
what is your PhD about?
Just get a BS and get into the work force. People working for Master's / PhD have money and if you do go for it but if you will have debt to do it please don't.
Do not waster your money and time to get Ph.D. degree.
Dr phd sounds better than Ms average lol
Genuinely interested in knowing if this person is biologically male or female.
How does a PhD dissertation compare to an MD thesis in terms of rigor? Is it true that-unlike a PhD dissertation-an MD thesis does not require original research? 🏛📜✒
Thanks for watching! I don't fully understand your question, and I can only answer from a U.S. perspective. In the U.S., a dissertation and other institutional criteria are the minimum requirements for PhD graduation. For an MD, they need to pass many national exams and meet institutional requirements to graduate. So, while both the PhD and MD are terminal degrees, the paths to obtaining them are very different.
@@FailingThirty OK, thank you!