With the job market flailing in recent years, many adults who had trouble finding work in their fields flocked to the universities. Rather than waste their time in unappealing jobs or on unemployment, they decided to dedicate time to refining their skills in the hopes of increasing their chances of a good job when the economy turned around again.
Though earning a PhD certainly comes with its benefits, many students experience some disappointment during the process.
If you’re considering pursuing a PhD, here are some pros and cons to think of before you proceed.
The Cons of Getting a PhD
Financial costs. Though the cost of undergraduate degrees have soared sky-high, the cost of PhD programs can be even heavier. PhD programs rarely have the same level of government subsidizing as undergraduate courses do and students entering these programs often take on heavy loans in order to complete their degrees. Sometimes a PhD may take longer than anticipated – for example, if your dissertation is not accepted the first time around – and taking on an extra year of student loan burden is not that uncommon. PhD students live a very modest lifestyle and have to budget carefully in order to make ends meet. If you’re returning to school after having had a career already, and don’t have savings or a spouse who’s willing to foot the bill for the next few years, the shift in lifestyle may be a shock.
Mental challenges. PhD work is hard. It’s the most advanced degree in the world, so don’t expect it to be easy. While undergraduate school may have prepared you to research and analyze information, a dissertation is your own original work. Students sometimes feel insecure about their work, having no reference point for it since its their own creation. You are no longer looking to the experts. You are becoming the expert. Constantly creating something that’s new and not just a reworked version of someone else’s thoughts, is very mentally demanding. Though you’ll have support from an advisor, you’re on your own for most of this journey. So, maybe it’s no mystery that a whopping 60% of graduate students are “overwhelmed, exhausted, hopeless, sad, or depressed nearly all the time.”
Career outlook (negative). The job market isn’t looking much better today than it has been for the past decade. And now there are even more people with PhDs than ever, making coveted university and research positions even more competitive. Though you may look at a PhD as an investment, it could end up being a costly one with little return. For areas like the humanities, PhD programs are often a luxurious choice based on personal curiosity and passion and not an economically advantageous one.
The Pros of Pursuing a PhD
R-E-S-P-E-C-T. Obtaining a PhD will earn you a level of status and respect in your field. You’ll be joining the ranks of the elite where you’ll be qualified to publish articles and books on your subject, be invited as a guest speaker at events, be able to use Dr. before your name and other prestigious goodies. You didn’t think going through all the of the cons came without some benefits, did you?
Passion makes perfect. If the reason for pursuing a PhD is because of your passion for your subject, you may have the best bet at being satisfied with the result as you’ll have ample time to explore something you feel strongly about. As philosopher Dan Dennett once said, the definition of happiness is to “find something more important than you are and dedicate your life to it.” Those pursuing a PhD for their love of learning may find happiness in it.
Career Outlook (positive). PhD degrees in areas such as hard sciences, economics and technology are highly competitive and the job market once outside of the university is equally so. However, the chances of scoring a high-paying job in the private sector in these fields is substantially higher with an advanced degree. If you’re someone who pursued a PhD in order to be able to cherry-pick a good job when you’re finished, your plan may work.
So now you may look at the pros and cons again and make a weighed decision.
image credit: https://www.flickr.com/photos/beaurogers/
