Is a PhD valuable\marketable?

I’ve also found programs such as this one that seem like a great idea. Rather than just “PhD in criminal justice” it’s in “justice, law and criminology”. At least with this one, it doesn’t come across as limited as just criminal justice. Perhaps more jobs would be available to this type of degree holder? This is the website if you care to take a look.

http://www.american.edu/spa/jlc/degrees/PHD-JLCR.cfm

However, when you look at the rankings of the graduate programs on US News, this school is down at #19 (tied). The program i’m looking into at my current school (UC) is #3. Seems like a giant step downwards. I’m not sure if it’s the right way to go. What do you think @juillet ?

Here’s the US News rankings.

http://grad-schools.usnews.rankingsandreviews.com/best-graduate-schools/top-humanities-schools/criminology-rankings