Thinking of doing PhD - Is it worth it?

[Bigboii]

So right know I am in UG and I think I have qualifications for a Phd it'll be in accounting
So what is the process like?
If someone did it what was day to life like I guess (did you even had a social life )
Or I should just go straight into work force cause it's not worth it

 

[Bigboii]

The time period is just killing me
I mean 3-5 years of almost minimum wage TA ** while I could be doing proper work

But I guess this could be a sacrifice that's worth it in the end
Who knows

 

[Savak]

Depends on your field, what you want to do, where you are living. If you are in the Public Health field in Boston then having a PHD is a must if you really want to compete against other individuals.

 

[Bigboii]

Depends on your field, what you want to do, where you are living. If you are in the Public Health field in Boston then having a PHD is a must if you really want to compete against other individuals.

Accounting in tri state area but I can move anywhere tbh
Free bird

I know it's not a must have especially in my field but I was just looking through it and found it interesting but I was just wondering is it worth it

 

[Buffet]

Accounting in tri state area but I can move anywhere tbh
Free bird

I know it's not a must have especially in my field but I was just looking through it and found it interesting but I was just wondering is it worth it

PHD is not worth in most subjects, definitely not worth in accounting.

 

[Buffet]

So right know I am in UG and I think I have qualifications for a Phd it'll be in accounting
So what is the process like?
If someone did it what was day to life like I guess (did you even had a social life �&#56843
Or I should just go straight into work force cause it's not worth it

Go to work force, do master after working 3-4 years. Avoid PHD unless it's very important to do in your subject.

You don't control the timeline to graduate if you are doing PHD. Advisor can control the time. In MIT compiler lab, averge time was 13-14 years to graduate. That's an extreme, but just giving you an idea. I have known many to do it in 3 years as well.

 

[Napa]

So right know I am in UG and I think I have qualifications for a Phd it'll be in accounting
So what is the process like?
If someone did it what was day to life like I guess (did you even had a social life �&#56843
Or I should just go straight into work force cause it's not worth it

A PhD is a choice of lifestyle. You have to enjoy being a professor and doing research.

It makes sense to do a PhD if you can get into a top 15 university. Starting salaries for Accounting Assistant Profs is quite high, up to $250K. However, if you don't get tenure and have to do adjunct jobs, your professional life will be poor.

 

[Savak]

Most Universities will only offer you a full time teaching position if you have a PHD. Like i said it depends on what you want to do, why do you wish to get the PHD, do you wish to be in the research field?

A PHD is a long process i.e. 5 years minimum, very expensive to without scholarship or funding and if you have to pay out of pocket, are you married with kids? Can you balance raising a family, working and doing a phd as well simultaneously?

 

[Arsal_AK]

Go to work force, do master after working 3-4 years. Avoid PHD unless it's very important to do in your subject.

You don't control the timeline to graduate if you are doing PHD. Advisor can control the time. In MIT compiler lab, averge time was 13-14 years to graduate. That's an extreme, but just giving you an idea. I have known many to do it in 3 years as well.

13-14 years at MIT, that is got to be an outlier rather than the norm. You know someone who went through this?

Those would be cases that left the PHD and then came back later to complete it, I think. You certainly won't get funding for 12 years as typically a PHD is 5 years in the US.

 

[Syed1]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Never confuse education with intelligence, you can have a PhD and still be an idiot. <a href="https://t.co/Zk6Xg8vhFh">pic.twitter.com/Zk6Xg8vhFh</a></p>— Richard Feynman (@ProfFeynman) <a href="https://twitter.com/ProfFeynman/status/1273453276931842052?ref_src=twsrc%5Etfw">June 18, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Buffet]

13-14 years at MIT, that is got to be an outlier rather than the norm. You know someone who went through this?

Those would be cases that left the PHD and then came back later to complete it, I think. You certainly won't get funding for 12 years as typically a PHD is 5 years in the US.

I know many with 5+ years in PHD. 13-14 years was not MIT in general, it was particular research lab full of nerds. They enjoy doing that work and average time was 10+ for anyone in that lab. I know some one who graduated form that lab.

Anyway, 10 years is not normal. I was just using it as an example.

 

[JaDed]

Why? Is there a specific reason to do PHD, do you love accounting so much?

 

[Bigboii]

Why? Is there a specific reason to do PHD, do you love accounting so much?

Honestly I like accounting "education" just not the desk work it's bearable but not something that "exites" me but while helping out professors with research I think I enjoyed it tbh but I was like should I spend those 5 years basically making nothing and my friends can go in corporate and make actuall dough and basically start their this is a huge headstart imo
But research exites me
And at the same time I don't wanna get too excited and just roat in libraries while I can start a career but at the same time should I be selfish and get away from my responsibilities from my family and do what I like
This thought been troubling me like crazy

Being an adult sucks

 

[Bigboii]

Most Universities will only offer you a full time teaching position if you have a PHD. Like i said it depends on what you want to do, why do you wish to get the PHD, do you wish to be in the research field?

A PHD is a long process i.e. 5 years minimum, very expensive to without scholarship or funding and if you have to pay out of pocket, are you married with kids? Can you balance raising a family, working and doing a phd as well simultaneously?

Nah I won't have any responsibilities except guilt of not taking charge and taking care of my parents

 

[JaDed]

Honestly I like accounting "education" just not the desk work it's bearable but not something that "exites" me but while helping out professors with research I think I enjoyed it tbh but I was like should I spend those 5 years basically making nothing and my friends can go in corporate and make actuall dough and basically start their this is a huge headstart imo
But research exites me
And at the same time I don't wanna get too excited and just roat in libraries while I can start a career but at the same time should I be selfish and get away from my responsibilities from my family and do what I like
This thought been troubling me like crazy

Being an adult sucks &#55357;&#56852;

Lol true about being an adult, research never excited me as such unless for a project and tbh in IT it's fairly easy. My parents had a financial issue when I was 22, so eventhough I did get Masters admission I didn't have the funds so I kept working and tbf I don't regret it yet as later I learnt to enjoy it as well not everyone does.

Just remember you cannot blame your parents in future for decisions that are yours.

 

[Kianig89]

Waste of time for 8/10 scholars do.it if you have time resources and if you want to spend the rest of your life in a boring way

 

[Kianig89]

I knew 18+ years qualification person and a primary pass both earning close to equality in a same organization

 

[ElRaja]

dont really see the point of one unless u love the subject or its a must for your career prospects, like being a researcher or a lecturer.

 

[sindhiboy]

Dont even think about it if you want any sort of career.

I mean no offense, but only a few PHDs get jobs, most go on to become professors. Moreover, a PHD is suited for the STEM subjects or social sciences. A PHD in a business area will be of no use. Even then, I would advise engineers to not pursue a PHD unless they are passionate about research and discovery.

Im also curious what research can you perform on accounting, are there any ground breaking discoveries to be made on GAAP and IFRS?

 

[ManFan]

PHD’s are a very low percentage who actually complete it and even less so, those who receive tenured university jobs.

It’s very difficult to do so, almost impossible because the job applicant pool is larger than ever but the number of jobs decreasing.

Timely thread because I was thinking of pursuing a PhD in History, particularly Napoleonic diplomacy.

But if you want a career, a spouse, have to take care of your parents, need money right away, I think it is wise to not do it.

If that passion still burns and your position is sound (financially and personal) later on, say at like 38-40, then by all means continue it.

 

[Bigboii]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Never confuse education with intelligence, you can have a PhD and still be an idiot. <a href="https://t.co/Zk6Xg8vhFh">pic.twitter.com/Zk6Xg8vhFh</a></p>— Richard Feynman (@ProfFeynman) <a href="https://twitter.com/ProfFeynman/status/1273453276931842052?ref_src=twsrc%5Etfw">June 18, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Didn't get the point you were trying to make tbh

Cause no one is asking for intelligence measures just looking for a genuine reply on PhD and it's worth in the real

 

[sjahmed23]

I don't know man... PHD requires alot of time and with technology changing everything so rapidly you will always have to be learning new things irrespective of your field.

Academic is also a very niche area that is rapidly going to change after covid as more and more schools will take lectures online which will be pre recorded by professors with a handful of TAs for assignment grading.

Tbh I wouldn't do a phd unless my field absolutely requires it and I already have my foot in the door at some company. I also know many people who do phd as part time and work full time.

Just my two cents.

 

[Darkrai]

I'm currently doing a master's in civil engineering and I'm also unsure about doing a PhD.

My parents and some relatives want me to do PhD as well, but i have no interest in teaching or doing research. Hence, I don't think it's worth it in my case.

If you are interested in research and teaching then PhD is necessary in most cases.

 

[Savak]

I'm currently doing a master's in civil engineering and I'm also unsure about doing a PhD.

My parents and some relatives want me to do PhD as well, but i have no interest in teaching or doing research. Hence, I don't think it's worth it in my case.

If you are interested in research and teaching then PhD is necessary in most cases.

I have seen a lot of Engineers do PHD's, it is apparently a big must now if you want to compete against others.

 

[Bigboii]

I have seen a lot of Engineers do PHD's, it is apparently a big must now if you want to compete against others.

Man that's stupid for a "company" to say I want Phd

I mean in workplace both masters and phd are equal that new degree doesn't bring anything new to the table you just have to pay the guy more that's it

Stupid decision business wise

 

[sweep_shot]

I never want to do PhD. Waste of money.

All the best to you, Bigboii.

 

[sindhiboy]

I'm currently doing a master's in civil engineering and I'm also unsure about doing a PhD.

My parents and some relatives want me to do PhD as well, but i have no interest in teaching or doing research. Hence, I don't think it's worth it in my case.

If you are interested in research and teaching then PhD is necessary in most cases.

I may be wrong, but I think the majority of engineers who do PHDs go on to become professors and very few actually get jobs.

Your masters should be enough and companies value work experience alot more than PHDs

 

[sindhiboy]

I am under the impression that only a select few PHDs go on to work for IBM, Investment Banks and Consultancies. 90% turn out to be professors

 

[Knight_Rider]

I have seen a lot of Engineers do PHD's, it is apparently a big must now if you want to compete against others.

Hard to believe that its really the case.

In fact PhD can be a career killer as it makes on overqualified for most jobs and older to compete against others in the industry. Formal qualifications are just a door opener in career ladder.

Masters is more than enough. Most goray in the US dont even do Masters and even having a bachelors degree is often sufficient.

Phd is only good if you want to do research or teach. Even in that case, I cannot really think of many research topics in field of accounting. Better do something like Chartered Accountancy or CFA type certificates.

 

[Savak]

Hard to believe that its really the case.

In fact PhD can be a career killer as it makes on overqualified for most jobs and older to compete against others in the industry. Formal qualifications are just a door opener in career ladder.

Masters is more than enough. Most goray in the US dont even do Masters and even having a bachelors degree is often sufficient.

Phd is only good if you want to do research or teach. Even in that case, I cannot really think of many research topics in field of accounting. Better do something like Chartered Accountancy or CFA type certificates.

I could be biased, but all my chachas including my dad and one of my mamus are all PHD holders and most of these people are electrical, computer network or civil engineers. Even if they aren't really using that knowledge or experience, they use the PHD as a badge of honor that they did it from the toughest of schools or reputed programs.

 

[Knight_Rider]

That’s probably what motivates most of us Desis. I.e Degree as an ego boaster.

Nothing wrong with education and learning if it serves a purpose. Ego alone isnt a sufficient reason.
I know quite a few Phds who struggled to find a graduate level job in industry.

 

[Bigboii]

I could be biased, but all my chachas including my dad and one of my mamus are all PHD holders and most of these people are electrical, computer network or civil engineers. Even if they aren't really using that knowledge or experience, they use the PHD as a badge of honor that they did it from the toughest of schools or reputed programs.

Huge waste of time and resources tbh
Doing something just for the hell of it is totally wrong imo

 

[Savak]

That’s probably what motivates most of us Desis. I.e Degree as an ego boaster.

Nothing wrong with education and learning if it serves a purpose. Ego alone isnt a sufficient reason.
I know quite a few Phds who struggled to find a graduate level job in industry.

Lol, i have come across PHD's from England who were driving Taxi's in Canada and were unable to find jobs in their fields.

 

[Arsal_AK]

A PHD boosts your job chances in any field. They earn more, have better job security and the works. The trend is certainly changing towards hiring and paying ones with advanced degrees more. And there are increasing numbers of fields where having a PHD is a must, if you want to do serious work.

And no, PHD's don't only go into academia. That is a tired and outdated stereotype. There are a lot of other jobs that you can get after a PHD.

Having said that:

Don't do a PHD if money is your only motivation. It will be a miserable experience for the whole duration. A PHD is hardwork, much more so that just a simple bachelors, that is why so few opt for it.

Also looks the feild and the research topic. It's is really something beneficial and something you will enjoy putting time and effort into. I don't know much about accounting but please do extensive research before committing to a program.

Do a PHD jf you like research and like discovering new things and don't mind putting in the hardwork that comes with it. That way you will have much more enjoyable 5 years.

When you come out, you will be much better person with skills to work in a variety of environments. The job prospects will consequenctly follow.

That is a benefit of doing a PHD that not many talk about. I know people who are working in so many different fields after completing a PHD in one, especially if your PHD is in a stem field. And you get to work on projects that you want too.

 

[sindhiboy]

Companies value work experience alot more than a PhD. Considering the time a PhD takes and it's little value in the job market, it is not worth getting if you plan on earning money soon