Does a PhD increase your salary?

First of all, the answer to our title question is definitely “yes” extremely – you will earn more money with the promotion. Various studies conducted in recent years show that income is directly related to academic success. For example, some studies report a wage gap of 71% (between those with only a first degree and those with higher education).

According to the US Bureau of Labor Statistics, graduate students earn about $1,885 per week, while the average weekly income of their graduate peers is $1,545. Considering that the same report puts the average undergraduate salary at $1,305, the conclusion is clear: a research degree is, among many other things, a pay rise.

“Is salary important?”

A famous statement is that “salary is not that important”. Some people might be okay with it and some might not, it really depends on your personal situation, lifestyle and attitude. But one thing must be clear: never choose your job based on monetary aspects alone! First decide on the job description and, more importantly, your personal impression during the interview — the impression you will have on your future colleagues and your boss. Are you on the same wavelength? Do you fit into the team? Do you enrich the team? Do they enrich you? Can you further develop this post? will you learn something new

In addition to professional aspects, make sure you want to live in this city: compare the quality of life, including climate, political system, leisure and cultural activities, security , behavior, acceptance of human and minority rights, distance from friends and family. Ask yourself how these topics relate to your current desires and future plans, perhaps including family planning.

Teach at your university

It is not uncommon for PhD students to have teaching or demonstration hours during their PhD to earn money and gain experience at their university or institution original research. Primary graduate student responsibilities include conducting undergraduate seminars, scoring assessments, and providing demonstrations or laboratory supervision. In some cases, graduate students may work as Teaching Assistants (TAs), taking on a more administrative role, being responsible for scheduling, teaching, email and grading. Our recommendation is that you ask your manager about matters, at least they know who to refer to.

Another way to increase your sales is to work as a tutor. In many cases, students, parents and individuals need support to learn and prepare for exams. This is usually a good opportunity for you, as a researcher on a particular topic, to leverage your niche and find clients that you are willing to pay to teach them. Some of the platforms that may help you are:

Salary data from 2005 vs. salary data from 2009

The value of a PhD in 2009 is almost the same as in 2005.

As a further check on the robustness of this estimate of the value of a doctorate, I also examined data from the 2005 salary survey. different in 2005 than in 2009, the estimates are surprisingly similar. The 2005 regression equation is as follows:

Graduate student life

  • Most important: a doctorate can open doors. In the case of certain fields, such as B. science itself, a doctorate may be required. And for others, a PhD can help you demonstrate expertise or skill, open doors, or help you advance to higher positions. Your mileage may vary!
  • You survived a doctorate: this achievement can be a great confidence booster.
  • You have a doctorate and you can use the title Dr. use lead. Certainly not a good enough reason to do a doctorate, but some help!
  • PhD can be hard! There are many challenges. If you are not careful and do not take good care of yourself, it can affect your well-being.
  • Being a doctoral student can (but doesn’t have to) be lonely, and thesis supervisors aren’t always as supportive as you’d like.
  • Also, especially during this pandemic time, you may not be able to get as much support from your manager, meet your colleagues or even access equipment and technical support as easy as you are in normal time.

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