<p>Has anyone here gotten a Phd in engineering, or known someone who has? I recently got an offer from a prof to do research with him, starting with an MS but then with the expectation to go on to get a Phd. His area of research really interests me (structural health monitoring and fracture mechanics), but the time commitment as well as the financial commitment from missing out on a higher salary in industry is big, and I'm trying to decide if I have what it takes to go all the way.</p>
<p>I know plenty of people who are currently getting or have gotten PhD’s, though I have the advantage of also being in a PhD program and working with a bunch of them.</p>
<p>They best way to look at it is like a full time job, to be honest. A low-paying, full-time job that involves classes. As horrible as that may sound, I would argue it is actually very awesome. If this professor of yours is already offering you a spot for grad school, that means you won’t have to pay a single penny out of pocket for your graduate degree (unless he expects you to pay fees, which some professors do). That is quite a deal, to be honest.</p>
<p>People like to talk about how it is a big financial commitment from missing out on salary, but it really isn’t. In MOST engineering disciplines, an MS will start you out about $10k higher than a BS and a PhD is worth another $10k or so. However, while I can’t recall the source, I was shown statistics a couple months ago by my advisor showing how the level at which your salary plateaus as an average PhD engineer is much higher (if it even plateaus at all) than the average BS engineer. It really can pay off in the long run if you play your cards right. There are always outliers, like BS engineers who rise to the level of CEO, but there are definitely some professors, for example, that bring in $400k+ a year by the end of their careers when you factor in salary, bonuses and consulting on the side, which isn’t too shabby either.</p>
<p>Personally, I love it. My main reason is the jobs you can get as a PhD are much more interesting to me than the ones you get with a BS. You really just kind of have to ask yourself if it is right for you, because it isn’t right for everyone. The fact that this professor asked you to work with him already tells me that you are probably perfectly capable of it, it just depends on whether or not it is what you want to do.</p>
<p>Well you get to be called ‘Dr.’… dunno what else beats that.</p>
<p>But seriously, it’s highly respected and you’ll get the best jobs like bonehead said, as well as getting a higher salary ceiling. Besides, if you like research, then what more else could you really ask for? The chance to study and do more research… which will help you get a job in research afterward as well… seems like a good deal to me.</p>
<p>The key is that you have to really like your research or you will be miserable. If you do, then it is definitely worth while.</p>
<p>Don’t get the PHD for the money. If you love research and could see yourself in advanced research and/or academia then you should go for it, but you’ll burn out quick if you don’t love it.</p>
<p>I am not saying he should do it for the money. I just like to dispel the myth that it will never pay off.</p>