[mvh]

I'm a PhD student in CS in the USA. At my school in Boston, we are paid a ~40K USD/yr stipend. My friends in industry make a _minimum_ of 120k/yr, and some make considerably more than that (think 200k+), in junior / "entry-level" positions.

When I complete the PhD, if I go to industry in the USA, my income will probably be similar to that of my friends who will have been in industry the entire time (and gotten steady wage increases throughout).

It's important to note also cost of living. 40k/yr might sound like a lot, but in Boston, rent is >1k/month even with roommates, we don't have dental care, our health insurance is imperfect, groceries are expensive, etc. etc. Meanwhile in Tucson Arizona or Bloomington Indiana the stipend is something like 22-28K/yr, as cost of living is lower.

Generally speaking it's reasonable to say that completing a PhD in computer science is not a financial investment, but rather, something I am doing because I want to do it. I am very unlikely to literally "profit" (compared to, if I had gone straight to industry instead).

I hope this information is useful/interesting!

[m463]

A friend of mine got a phd and he told me the main benefit was that he had lots more opportunities. He was always called back for job interviews and had lots more positions available. His wife, a nurse, basically supported him while he was getting the degree.

[lesuorac]

This is still an opportunity cost scenario. Would your friend get called back for job interviews if he had just spent that time in industry and had ~3yr experience on their resume (My experience is yes).

[vkou]

Getting hired as a PHD is usually a +1 in level compared to a junior.

[supernewton]

Yes, but in the time it takes to complete a PhD, the junior engineer can usually get promoted at least once. So you both end up in the same place, but the guy who went straight to industry was making 3x more than the PhD in the meantime.

[rapjr9]

Don't forget that a PhD makes it more difficult to get some kinds of jobs. An intermediate or low level developer job may pay more, but if you have a PhD the interviewers are going to question why you are applying for a low level job and be worried how long you will stay. So in some respects a PhD reduces your employability (though you can always lie and say you never got the PhD, though it is kind of hard to hide on a resume without leaving a time gap, which makes you seem even less employable.)

[eli_gottlieb]

... this sounds like you're in my exact department, actually.