<p>So, I have a couple more years before I graduate with my BS in ChE and I'm currently interning at a pharmaceuticals company. Talking to a quite a few of the scientists and engineers, many of them suggested I go for a PhD, as the ceiling can be very low for those with Bachelors in the industry, while PhDs find it very easy to ascend the corporate ladder. After my bachelors, I'll be in a decent, but not horrible, amount of debt and going to work right away to pay off all my loans sounds very appealing. However, I feel that the longer I wait the harder it will be to go back to school, and I might regret never pursuing a PhD. Right now I'm in my mid-twenties and will finish my BS in my late-twenties, and this has already proven to be considerably difficult. I can only imagine trying to get a PhD in my early 30s when I'll want to have kids and a house. </p>
<p>So, my questions are: Is a PhD worth it? Should I just be content with a BS? How common is it for corporations to fund a part-time PhD?</p>
<p>Ok first of all a phd in any technical major should be completely paid for with a stipend otherwise its not even worth your time, most companies will not pay for a PhD since usually not in their best interest. And I have never heard that PhD will help you “climb the corporate ladder” however I have heard the exact opposite that it will lock you into positions such as R&D or Academia which are very difficult to get out of. </p>
<p>Maybe you are confusing a PhD with a Masters degree which can help get you into higher positions faster than that with a Bachelors.</p>
<p>The advice I’ve always been given is that going for a PhD (especially as an engineer) should never be a financial decision. You should only go for a PhD if you truly love what you’re studying and you want to spend the rest of your life researching it, regardless of how much you are paid for it. Often times, people with a BS/MS will make more money than you, but the tradeoff is that you will truly be an expert in your field.</p>
<p>Well, I think I’m convinced I really don’t need a PhD. Although I like chemical engineering, I don’t want to spend 6 years studying some minute niche in the field for an insubstantial return. I might try for my Master’s instead. On that note, what do grad. school admissions officers look for in engineering grad applicants? Do I need to have research experience, or will internships and some industry experience be suitable? Also, how likely is it to have your Master’s completely funded?</p>
<p>I know that for PhD admissions, research trumps everything else by far. But for masters programs, I would think that internships and industry experience would be just as valuable.</p>
<p>Very difficult to get masters funded, but many companies will pay for it.</p>
<p>By the way, if you’re talking finances, a masters is not worth it financially. You will make at best $10k a year with a masters over a bachelors, but bachelors +2 years working is probably making almost as much as the masters. And besides, the lost wages will be impossible to make back. Just crunch the numbers and you’ll see what I mean.</p>
<p>I imagine the ceiling on jobs having a MS is a bit higher than without, as well. Also, there are many MS programs which either only take one year, or you can do part-time while you work at a company (making full BS pay) and have it funded by the company.</p>
I know four people who did the bs/ms program at my school and each of them got a starting salary ~$20k higher than the average starting salary of their equivalent bs-only peers from my school.</p>
<p>They’re all more than happy they chose to stick around for 1 extra year (in fact, one guy only did the fifth year because he didn’t have a job offer after the fourth).</p>
<p>I don’t know salary info of others who got a bs/ms in one go, so I can’t really comment on them.</p>
<p>(The four I previously mentioned all did the non-thesis option for their bs/ms. I actually don’t know any bs/ms students who did the thesis option).</p>
<p>I was doing some research on grad schools and there’s a local college (CCNY) that offers a MS in Chemical Engineering that I was interested in due its low price (Other near by options are Columbia, NYU Poly, and CU). However, the grad school is ranked fairly low and I’m not sure its name has recognition outside of the NYC area. So I ask, how dependent is the value of a Master’s in Engineering on the name of the school you received it from?</p>
<p>A PHd in a technical (or business) field can be very rewarding, both financially and personally, however you should have a strong passion for the field you are studying as well as a strong desire to do independent research on questions that no one else has the answer to. A masters and PHd lead to very different career paths. However, some people, including myself, would, in some cases at least, prefer the life and career path that a PHd would lead to. If you are not 100% certain that a PHd is what you truly want in life, then don’t pull the trigger on it.</p>
<p>ElevateMeLater, you are asking a question to which you were given an answer by people who were already working in that field. I would think their advice would carry more weight than the advice you are given here. What exactly are your goals?</p>
<p>As the above poster said, you should go to experts in the field to get better answers. </p>
<p>But I’ll give you my two cents.</p>
<p>There was a Simpson’s episode where Bart was in a Barnes and Noble. He said, “Let’s go have some fun with all the PhD’s working at the checkout counter.” Bart went to the counter and said, “Hey, there’s an Assistant Professorship opening up.” All of the counter staff at the store suddenly stopped and said, “Huh? Really? Where?” </p>
<p>Most people who earn PhD’s in any hard science or engineering field want a career in research or academia. A lot of employers are hesitant to hire PhD’s for non-research positions, because they fear that they will get bored and leave for a research position when they can.</p>
<p>PhD’s also have the reputation for being ethereal; the reputation (often deserved) is that they tend to go on and on pontificating, rather than getting the real work done.</p>
<p>I have a client, a biotech firm, that has found it is easier to hire PhD’s in biochemistry or microbiology than it is to hire people with master’s degrees. The PhD’s haven’t been able to find jobs in academia or pure research, and the company told me there are more of them available. They hire them as product managers (very technical/scientific marketing positions) at the same rate as they would pay someone with a Master’s Degree, and not much more than they would pay someone working in the same job with a BS.</p>
<p>I would only get a PhD if you want to go into research or academia for life; some go elsewhere, but that is not the rule. </p>
<p>A Master’s Degree is a different story, although plenty of ChemE’s get by as engineers and/or move up into management, etc., with a BS degree.</p>
<p>Do not equate PHds in chemistry and biology fields with PHds in engineering and business fields. There is a HUGE difference in those specific labor markets.</p>