[whatever1]

1. If you manage to get through it, you will be a world expert in a niche that can be valuable. $$$$$$$$

2. You will develop the invaluable skill of not giving up even when all the odds are against you

3. You will be able to swim by yourself, parsing enormous amount of literature, identifying what is useful and useless and solve problems that no one else before you has solved.

4. Access to academic positions that offer stability

5. Access to academic network that provide infinite talent

[bityard]

> If you manage to get through it, you will be a world expert in a niche that can be valuable. $$$$$$$$

This depends highly upon your field, the current needs of industry, and your own work ethic. For example, if you want to write or architect software for a living, a PhD in computer science really doesn't get you much. Neither is it a good idea to go for a PhD just because you can't think of anything better to do to further your career. But if your goal is to make new discoveries in a field you are passionate about, then that would be a different story.

Also I have met a lot of PhDs who are absolutely not experts on anything at all, except for knowing how to thrive in the socio-political academic system by being "book smart," and writing bullshitty articles/papers.

> You will develop the invaluable skill of not giving up even when all the odds are against you

Are you saying people don't wash out of PhD programs all the time? Even if this was somehow true, you don't need to throw money at a PhD program to learn this!

[waveBidder]

doing a PhD for the earning potential is hilarious. you'd be better off getting a normal job, living frugally, and pumping as much into savings for the same amount of time

[whatever1]

Same can be said for a startup.

[waveBidder]

the long tail of profit in a startup is wildly higher than a PhD. To be clear, I say this as one who's gone through a math PhD; none of my fellow graduates make significantly more than they would've made bypassing the PhD for industry, especially when you consider the opportunity costs. Academia is very much for people who either prefer ideas or prestige to money.

[whatever1]

Well I am bit biased because 2/14 of my PhD class, 10 years after defending, they are >50M worth, by leveraging their expertise.

I can accept the argument that a unicorn startup might have higher tail monetary benefit compared to a PhD. But a startup job will not open as many research job opportunities as a PhD. These are typically the highest paid individual contributor jobs in companies.

Of course if managerial track is your thing, you should probably not waste your time doing a PhD.

[Ultimatt]

> 4. Access to academic positions that offer stability

This one reads like a bitter joke :/ not sure where you live for this to sound true to you! But the rest are good takes.