[lvice]

I see xtracto's point. You are "paying" to pursue a PhD in the form of missed additional revenue that you could have achieved by starting in the industry earlier on. Or pursue other paths that could be more industry-focused (MBA). It's an intellectual investment, sure. But for most PhDs, it will be a net negative on the financial side, and a potential hyper-specialization trap for moving to the private/industry sector.

[ghaff]

I see the point though I'm not sure that's any different from going to art school or music school or even an undergraduate degree in something like film that will probably only pay off if you win the professional lottery. But I don't disagree that getting a PhD isn't likely to pay off purely from a financial perspective even in many hot technology areas.