[omginternets]

I very much disagree with the general tenor of the comments. True, a Ph.D won't directly translate into more money, or more exciting job prospects. Also true, a Ph.D isn't a golden key to life.

A Ph.D in a solid field gives you a new set of tools for solving problems, and it gives you the luxury of digging very deeply into a subject you find rich/stimulating/opportune. I walked out with:

- deep knowledge of cutting edge techniques in my field - a network of world-class experts to whom I could turn when faced with interesting business/engineering problems - years of practice in solving hard problems

> I much prefer creating things.

A good Ph.D serves your ability to create.

> I'll be stuck doing things that bore me after a number of years, with no room to grow to more interesting things.

You don't have to stay in academia for your Ph.D to be valuable.

>I also think I'm just not that bright and that a PhD would be a huge intellectual challenge for me.

None of us are "that bright". That's the whole point of the Ph.D.