[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).