Somebody please hit my head hard

[Scott No Mates]

I'd support your decision to do a PhD if that's what you wanted to do. It's not simply a matter of how much money it will bring in later on but also a selfless gesture where you can contribute significantly more to your field of endeavour.

I have two tenants (couple), both doing PhD, are recent arrivals, aspirational to buy their own ppor and their income is restricted to the scholarships and some tutoring.

This couple have some of the greatest minds in their fields have been given the opportunity to work for their doctorates.

I have worked with plenty of people who have found that post grad qualifications have been enriching. I enjoyed postgraduate studies so much that I went back twice! (different unis though)

I didn't quite get the point of the early comment that

I have several friends who are at the end of theirs and they say if they knew what they know now, they wouldn't do it.

. If I already knew it, I would do something that I knew less about or have been more involved with my supervisor to ensure that I was on topic.

If it's what you want, go for it.

 

[devank]

So what have you decided, devank?

Few facts:
1. I'm getting a one year worth of redundancy at the end of this June.
2. I have already done my ground work to become 'Data Analytics' contractor/freelancer/consultant. I already have a 4 weeks contract lined up after June. Few others (my previous managers) have approached me for further work after that.
3. I already have continuous 'digital marketing'/ 'web developer' freelancer role (about 2 hours a week).
4. We can survive on reduced income but surely this will have an impact in our stress free lifestyle.
5. Three kids under six. Youngest is 1.5 years old

So I have three options:
1. Do the PhD now.
Income = scholarship + tutoring + digital marketing freelancer + once in a while Data Analytics contracting

Slowly build up my experience in contracting and increase my network in this industry.


2. Focus on my own company for next 3 years and then do PhD.
Income = May be 6 months worth of Data Analytics contracting + 3 months worth of digital marketing freelancer
I will be established in my contracting world. Hopefully work will come to me instead of me chasing them. Youngest will be at school too.

3. Do PhD in 15-20 years time.
This will have similar advantages as option 2 and also let me slow down gradually instead of fully stop working (as my initial plan).
One problem here is that I won't be able to apply whatever 'edge' I will have.


I think I'm leaning towards option 2 at the moment. I'm going to give it a go with my own business while I have the 1 year buffer (redundancy). See how it goes in terms of my sanity. See if I can handle constantly chasing jobs and volatility in working hours. I fear that if I don't do this now (age 39) then it would be difficult to start again in 10 years time.

 

[Scott No Mates]

Once you start contracting and working for yourself, it will take 10 years before you are in position with staff to undertake the PhD.

 

[BayView]

Why?

You get to call yourself a doctor and put it on your letterheads, etc....

Dr. D

But, it's much quicker and has the same result if you go out and buy the latest brand new Beemer X5, I suspect.

Do it as a hobby though if you enjoy study ad research etc; look at it from that aspect.

From a financial aspect; you could put the same amount of time into more IP study/research and make more at the end of the timeframe than what a Phd would get you, most likely.

 

[ali]

I did a full scholarship Ph.D in my early 20s. Scholarship was tax deductible and teaching rates were excellent. Although I decided not to pursue an academic career, it certainly opened doors career-wise. It's a fantastic way to spend 3 years if you are incredibly passionate about the topic. Otherwise, it's like birthing a baby elephant.
Cheers, Ali

 

[johnpendles]

When i began reading this thread my initial response was "yes, do it".

now it is, "no, dont do it"

i dont think your personal situation lends itself to doing a phD right now. not worth it in my opinion, particularly not if your motivation for doing it is so you can have "Dr" at the start of your name.

Having said that, if there is some specific topic or subject matter that you are truly passionate about and by studying it in significant detail (i.e.doing a phD) it would make you an expert in that area and would be very applicable to your job etc, then go for it. Otherwise it's not a good decision, not in your current life situation with 3 children under 6 etc etc.