[lightsighter]

I have a CS PhD from Stanford (graduated 2014) and it is definitely worth it. The thing it actually buys you is freedom to choose your own research, which you can't do with a bachelors or a masters. I now work at an industrial research lab where I get to set my own research agenda within some reasonable bounds of interest of my employer. I pick the projects I work on and am compensated based onto how valuable they are to the company. Importantly failed projects can be just as valuable to the company as successful ones as they can show the product groups what NOT to do. The PhD is effectively a license showing that you've been trained to conduct research. Most companies won't give you the freedom to pick your own research topics without it. For someone that cares a lot about what I'm working on, that freedom is more valuable than money.