Should you get your Ph.D.?

Having a doctoral degree is a major accomplishment, but do you need one? In this post, we delve into whether you should pursue a Ph.D., the degree's benefits, and what to know before you enroll in a program.

By Brandi Fowler

Obtaining a doctorate is no simple task, so you should be sure the path is right for you before embarking on it.?

“Getting a Ph.D. is a huge time commitment,” said Noteworthy Founder Alessandra Wall , Ph.D. “It's hard in that it requires time, consistency, dedication and focus.”

A doctorate usually takes four to six years to complete, but in some cases can take up to eight, according to Franklin University . “This timing depends on the program design, the subject area you're studying, and the institution offering the program.”

Certain jobs require a Ph.D., like college/university presidents, professors, anthropologists, gerontologists, and epidemiologists, according to careeraddict.com . But most positions in the career stratosphere require only a bachelor’s or master’s degree. So, it is imperative to determine if you need a doctorate for the job and career trajectory you want.

“Mainly, Ph.Ds. are training you to be a professor, and depend on the type of Ph.D. in your field,” said University of North Carolina Assistant Professor of Educational Leadership Constance Lindsay , Ph.D. “They're training you to work at different types of universities. Of course, you can do anything you want with a Ph.D., but mostly they are training you to be a professor.”

I chatted with Lindsay and Wall to learn more about what it takes to get a Ph.D. and what everyone should consider before enrolling in a program.

What to Know Before Pursuing a Ph.D.

Think about how a doctoral degree can help your career before applying to Ph.D. programs.

Ask yourself questions about your post-graduation plans, like if you have the passion for studying a specific topic year after year, if you are willing to relocate, and how to cover costs, Lindsay said.

“A lot of times you have to be mobile to find the jobs that match your specialty.”

Wall echoed Lindsay’s sentiments. “The biggest question you should ask yourself is, ‘To what end?’” Wall said. “Post-graduate degrees allow us to acquire knowledge and skills that meet specific needs. Before embarking on a post-graduate degree ask yourself what purpose the degree will serve.

“I was pretty well informed prior to embarking on my post-graduate path, [but] I wish I had explored other career opportunities to really decide whether it was an investment (timewise) that I needed to make to achieve professional satisfaction and success.”

As Lindsay and Wall mentioned, the time commitment of Ph.D. programs is a crucial pre-application consideration.?

“It takes years of study, a lot of work, and a lot of effort so, if you are willing to put in the time that it takes and the dedication it can happen. The challenge really is the time that you have to spend to make it happen,” Lindsay said.?

Wall suggested talking to as many people as possible about the programs you are exploring to help with your decision.?

“Speak to postgraduates, especially ones who are five years post-degree,” Wall said. “Remember that there are few careers where that level of academic pursuit is necessary.”??

How to Finance Your Doctoral Degree

Another major aspect to consider is how you will pay for your Ph.D.?

The average cost of a doctoral degree is $114,300, according to the Education Data Initiative , but it can be much higher. The cost of a Doctorate in Philosophy from a traditional eight-year Ph.D. program at New York University could reach $294,200.

Luckily, numerous financial aid resources are available for Ph.D. candidates: 71% of doctoral students received financial aid in 2012, according to the Urban Institute, the Education Data Initiative reported.?

“The most competitive Ph.D. programs will actually accept you with funding, and I think a lot of people don't know that,” Lindsay said. “That if you can get into a top program there is funding available for you. And usually that tuition plus some sort of stipend. You either have to be a teaching assistant or a research assistant.”

Ph.D. candidates tend to be funded by a combination of scholarships, fellowships, and graduate assistantships.?

“Overall, more than 62 percent of all doctoral recipients graduate from school without a single dollar of debt,” the National Science Foundation reported, according to GoGrad .?

Scholarships and grants help cover the cost of tuition, books, and fees. Meanwhile, fellowships can be used to fund research, study, and teaching in the U.S. and abroad and provide full tuition plus a yearly stipend to students.

“Graduate assistantships are academic appointments and are provided by individual departments,” according to GoGrad. “Competitive in nature, they are typically awarded on the basis of the student’s academic accomplishments and potential in the graduate program of study.”

Most programs — teaching assistantships, assistant lecturers, and research assistants —?provide a tuition credit or waiver and monthly stipend.

Should you enroll in a partially funded program? Probably not, Lindsay said.

“Some people do, I would not,” Lindsay said. “I would be flexible to find a place that would at least allow me to earn money for part of it. I wouldn't recommend going into a ton of debt because your starting salary might not be enough to handle all that debt. Eventually, you will be able to work your way up, but I would be aware of that.

How Can Obtaining Your Ph.D. Help Your Career??

Aside from the job you are pursuing your Ph.D. for — professor, anthropologist, etc. — having a doctorate can be beneficial in other ways too.?

“As a clinical psychologist a Ph.D. is a minimum requirement,” Wall said. “I recently retired from my clinic practice. The Ph.D. continues to prove valuable as it quickly confers thought expertise and legitimacy.”

The degree can help lead to other sources of income, including speaking engagements and more credibility if you author or co-author a book related to your field.?

“[My Ph.D.] plays directly into what I do as a professor and it does give you the flexibility to do things like consulting and speaking,” Lindsay said. “Mainly it teaches you how to think about problems and there is no sort of problems people don't need help solving.

“So there are plenty of opportunities outside of your main line of work to make money, to make a difference, basically to be engaged with the world. It can help you be really entrepreneurial because you have a set of skills that are useful to a lot of people.”?

The decision to obtain a Ph.D. is personal and depends on various factors. Consider whether you have the time to commit to a doctoral degree program, if you can receive funding, and how the degree can benefit your career before enrolling in a program.

Top Takeaways

Should you get your Ph.D.?

• Determine how a Ph.D. can help you in your career before enrolling in a program.
• Ph.D. programs usually take 4-6 years to complete, but can last up to eight. Be sure you can commit the time to it.?
• Talk to as many people as possible who have completed the Ph.D. program you are interested in.
• Most Ph.D. programs are fully funded. If you cannot obtain funding for your program, think hard about whether it is worth it to pursue it.