The TRUTH About PhD Degrees...

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  • เผยแพร่เมื่อ 6 ต.ค. 2024
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    ----------
    These videos are for entertainment purposes only and they are just Shane's opinion based off of his own life experience and the research that he's done. Shane is not an attorney, CPA, insurance, or financial advisor and the information presented shall not be construed as tax, legal, insurance, safety or financial advice. If stocks or companies are mentioned, Shane might have an ownership interest in them. Affiliate links may be present, the offers and numbers presented may change over time so please make sure to confirm that the offer is still valid. Some offers mentioned may no longer be available or they have been changed. Please don’t make buying or selling decisions based on Shane’s videos. If you need such advice, please contact the qualified legal or financial professionals, don't just trust the opinion of a stranger on the internet and always make sure to do your own research and enjoy this family friendly content.
    Sources and further readings for jobs and college degrees:
    bls.gov(bureau of labor statistics)
    nces.ed.gov(national center for educational statistics)
    payscale(provides information on jobs and degrees)
    medium.economi...
    finishyourthes....
    100rsns.blogspo...
    www.cbsnews.co....
    nces.ed.gov/pr...
    www.theatlanti...
    www.kiplinger....

ความคิดเห็น • 506

  • @ShaneHummus
    @ShaneHummus  3 ปีที่แล้ว +46

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    • @ivanbragin725
      @ivanbragin725 3 ปีที่แล้ว +2

      Shane, always wanted to ask if the salaries you talk about in your videos are before or after tax paid?

    • @kofiasamoah6177
      @kofiasamoah6177 3 ปีที่แล้ว +1

      When are you gonna talk about pharmacy

    • @honjokun0615
      @honjokun0615 3 ปีที่แล้ว

      Great video, Shane. I would really appreciate it if you could check out my comment regarding X-Factor for personal finance that I found during PhD studies. Thank you :)

    • @danielconiff8178
      @danielconiff8178 3 ปีที่แล้ว

      You are a pharmacist, right? What do you think? Do you regret getting a doctorate or are you happy with your career? Why'd you go for a pharma.D?

    • @danielconiff8178
      @danielconiff8178 3 ปีที่แล้ว

      @@kofiasamoah6177 I think he did in his video about healthcare degrees.

  • @ROGUE406
    @ROGUE406 3 ปีที่แล้ว +306

    This is based on a US perspective - my PhD was free. And I didn't do it for career advancement or financial rewards. I did it as a personal challenge, and the fun of learning

    • @dannysze8183
      @dannysze8183 3 ปีที่แล้ว +17

      great and right attitude.

    • @squeet6831
      @squeet6831 3 ปีที่แล้ว +15

      Bruh... I love and adore and admire this attitude. Sadly learning for love is a dying concept. Learn for money because it's costing a ridiculous amount. 80k for undergrad. 40k for masters. 100k for PhD (those are high numbers in Canada. Undergrad taken away from home and includes all costs).

    • @ROGUE406
      @ROGUE406 3 ปีที่แล้ว +24

      @@squeet6831 You have options to do the PhD outside the US, though. There is no reason why anyone should pay such humongous amounts of money for an education - its illogical

    • @squeet6831
      @squeet6831 3 ปีที่แล้ว

      @@ROGUE406 where would I go outside Canada and the US? I'd only go to school in the US if at least 60-75% of it was covered. Its waaaaay too expensive.

    • @ROGUE406
      @ROGUE406 3 ปีที่แล้ว +13

      Europe has some of the best universities in the world, which are often free or way cheaper. Not sure what your subject area is, but you can use QS or Times Higher Education rankings to figure out which universities are good and compare favourably in your field.

  • @docsays
    @docsays 3 ปีที่แล้ว +106

    It took me 6 years to earn my doctorate. I went partime and paid for all my classes out of pocket so i have Zero student debt. I also waited 10 years after finishing my bachelors & masters before starting my doc program. This way i could establish my practice in mental health and began teaching at a local community college. Fast forward, i became head of my department, continued my private practice, and now do a lot of consulting & training. Earning my doctorate has quadrupled my earning potential. Education is a tool, what you do with it is up to you.

    • @kattb7217
      @kattb7217 ปีที่แล้ว +1

      I so needed to see this message! I’m in the same boat but I’m a speech-language pathologist and just know my private practice and clients in general will benefit more if I got a Ph.D. Of course, teaching, consulting and opening a different kind of business would also triple my income. I’m just going to apply and do it!! No looking back 😊

  • @soakohaji8009
    @soakohaji8009 3 ปีที่แล้ว +223

    Watching from Denmark. I get paid for my masters degree. The system in the US sounds like a complete hell

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +52

      It is

    • @darkrebel123
      @darkrebel123 3 ปีที่แล้ว +17

      In the US, you can skip your Masters and go straight from your Bachelors to PhD. And if you are in a field with funded PhD programs then it's actually not bad. For example I get paid a similar salary as a grad student to what I would be making in the job market with a bachelor's. I was also able to pay off my undergrad debt within the first year and a half of grad school. Creativity and planning ahead goes a long ways.

    • @soakohaji8009
      @soakohaji8009 3 ปีที่แล้ว +6

      @@darkrebel123 Wow the
      Bachelors -> PhD sounds interesting. I cannot imagine how someone can be succesful with PhD when only having the Bachelor degree.
      Yes. But the economy seems to be limiting you too much. Like, you have to consider the economic side of things when picking a degree and I cannot think of how frustrating it would be to especially for me, to not pick a career path because you have to pick a funded PhD or whatsoever.

    • @darkrebel123
      @darkrebel123 3 ปีที่แล้ว +7

      @@soakohaji8009 Here in the US, a masters degree is unofficially built into a PhD program. The first 2 years are typically spent taking courses etc. It is not uncommon for someone dropping out of a PhD program to he awarded a masters if they did enough work to merit it.
      And as to the economics of it, I don't see a problem with the current system. It's no different than anything else in economics. The incentives are where the value is at, to some extent anyways. Take psychology for example, the market is twice over saturated with psych degree holders which forces people to get a masters or PhD if they want to work in the field. There is an excess of supply, so naturally I the taxpayer doesn't want to pay for Joe Blow's psych degree that doesn't benefit society do to the oversupply.
      As with any other economical choice, it should not be made based solely on the whims of what I feel like I would like to do. This is ultimately also the root of the student debt problem in the US as well.
      People don't actually care about the value of their degree, they just go after it because its what they want to do.
      I'm just so lucky that what I want to do is in alignment with an area where there is demand.

    • @dannysze8183
      @dannysze8183 3 ปีที่แล้ว +1

      us education system is weird although I studied at usa college.

  • @todddunn945
    @todddunn945 3 ปีที่แล้ว +43

    People who go into a Ph.D. program "for the money" are by far the most likely to never finish. The only reason, in my opinion, to go for a Ph.D. is because you are interested in the subject. You also have to be willing to work hard and ALWAYS do much more than the minimum. Also, if you are good at your subject matter you can likely get through a Ph.D. program with minimal debt, particularly in the sciences. I have some experience in this area as a retired professor.

    • @CCP-Lies
      @CCP-Lies 2 ปีที่แล้ว

      Or maybe getting jobs like economist, mathematician, physicist or statistician

    • @gohanlopez5330
      @gohanlopez5330 ปีที่แล้ว +2

      Nobody decades so many years just to work at a minimum wage salary. I am sick of academia ignoring the elephant in the room. Many 1st gen pursue higher education so that they can have a better income and live comfortably than their parents. If the return of investing 4 years of my life, wont make me the salary I would of had by working experience instead; there would be no interest for me. I met many grad students who have both housing and food insecurity, so I am not going to play a "poor man" while the dean gets bonuses for his 6 figures salary.

  • @axelpurcell9030
    @axelpurcell9030 3 ปีที่แล้ว +129

    I still can't believe american student loans have interest

    • @axelpurcell9030
      @axelpurcell9030 3 ปีที่แล้ว +5

      thats some communist propoganda right there

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +26

      Sadly they do

    • @chrisiver8506
      @chrisiver8506 3 ปีที่แล้ว +1

      Why loan without interest?

    • @axelpurcell9030
      @axelpurcell9030 3 ปีที่แล้ว +14

      @@chrisiver8506 it’s just here in Australia we still have loans but they are without interest and are done in a system where it it is taken out of your career salary once you make over 25,000 a year. This means there are many cases were people can’t pay it back but still it’s much better than 100% free in terms of government spending. In terms of interest on loans the problem is that people who take longer to pay it back get their loan compounded restricting them to sell out and try and get the money together immediately rather than graduately paying it back so they can live

    • @axelpurcell9030
      @axelpurcell9030 3 ปีที่แล้ว

      *a better quality of life

  • @laskyam
    @laskyam 3 ปีที่แล้ว +28

    This video is excellent. I'm a part of a group of three friends who all graduated with the same degrees at the same time. One of my buddies went straight into the job market after earning a BS, I earned a MS then entered the job market, and the other friend earned his PhD. At 30 y.o., I'm just passed the BS friend in income and the PhD guy is waaaaayyyyy behind. But all three of us seem to be happy with our decisions.

  • @forwardistic4010
    @forwardistic4010 3 ปีที่แล้ว +32

    an advice in relation to PhDs that i heard was, "if you aren't getting sponsored or paid for your PhD you aren't good enough to be doing one".

    • @eloboa5355
      @eloboa5355 2 ปีที่แล้ว

      One things is to be good academically and be praised by your profs and academicians. Another thing is to be good at applying your knowledge in real life. even in the STEM fields, the more you're loved and praised by the academics.. the more useless you are in real life.

    • @jacob9673
      @jacob9673 ปีที่แล้ว

      @@eloboa5355 You’re clearly ignorant. Most STEM PhDs are the very literal application of knowledge. You’re generating knowledge and applying it to real life-see the research at literally any engineering/science PhD program. PhD research often has use on the timescale of 1-3 decades, but trains people who go into industry researching the very tech that allowed you to type your inane comment. That tech is built on years of academic and govt research, done by people who are getting PhDs.

    • @Jacosmi
      @Jacosmi 3 หลายเดือนก่อน

      @@eloboa5355You have no clue what you’re saying. A PhD is literally only granted if you apply your scientific knowledge to “real life” through a research project. Many times these projects have industrial support.

  • @flauberkb
    @flauberkb 3 ปีที่แล้ว +35

    8 years to get a PHD alone is nowhere correct. 8.2 must be the medium from bachelor to PHD combined time.

    • @Citygal01
      @Citygal01 3 ปีที่แล้ว +2

      It’s very correct! I’m in a PhD now.

    • @flauberkb
      @flauberkb 3 ปีที่แล้ว +3

      You spent in PHD 8 years alone give or take?! Or was Bachelor plus PHD?!

    • @ninthcrusader2355
      @ninthcrusader2355 3 ปีที่แล้ว +2

      It’s combined. 3-4 for bachelors
      2 for masters and 2-4 for PhD

    • @ninthcrusader2355
      @ninthcrusader2355 3 ปีที่แล้ว

      4-6 years for Science PhDs. So about 13-14 years. So you become employable at the age of 32-34 ooooof

    • @flauberkb
      @flauberkb 3 ปีที่แล้ว

      @@ninthcrusader2355 In the video is said " Phd alone time" so if alone time is not combined.

  • @therulerstl
    @therulerstl ปีที่แล้ว +6

    Great video. My family member #1 PhD from MIT in 4 years and a very successful career (and profitable). Family member #2 dropped out of graduate school from MIT & had a very rewarding & profitable career. Family member #3 is in a PhD program at the third best program in the world for her major. She decided she loves what she is studying but her program requires six years + the post doc cycle to follow. She decided to just cut it short after 4 years and take a Masters and go into industry. All three had grad school funded from grants like the NSF and so they didnt have to dig into their pockets.

  • @oceanscholar
    @oceanscholar 3 ปีที่แล้ว +34

    This was such a well done video! I'm currently in a gap year and have been so torn about a decision of master's, PhD, or any sort of graduate program at all. Videos likes this make the decision so much more informed. Thank you for the important considerations!

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +2

      Glad it was helpful!

  • @Austin-gb1cq
    @Austin-gb1cq 3 ปีที่แล้ว +19

    Some programs (like USD's PhD in Education) allow you to work while in the program, while others (like USC's PhD in Education) will give you free tuition plus stipend ($32k/y), but require you to sign an agreement not to work while in the program. Additionally, some only require bachelor's for entry (USC) while others require master's (USD), which shortens the length of the program, usually by one year. Programs vary widely, so be like a PhD and DO YOUR RESEARCH!!

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว

      Thanks for your input Austin

  • @ericadionisi2213
    @ericadionisi2213 3 ปีที่แล้ว +9

    Currently working on a fully funded chemistry PhD in Ontario Canada. Most people I know in chemistry (including me) fast-tracked their PhD, completing one year of master's work before switching into the doctoral program. This shaves off a year of grad school time. My peers generally spend 5 years in grad school, graduating at 27. Love the channel!

  • @khanalprabhat
    @khanalprabhat 3 ปีที่แล้ว +16

    Humm.. I think it depends on what phd you are getting into. In engineering, it is very rare to have a PhD which is not fully funded. Meaning you do not pay any tuition fee and you receive stipends from university or funding agency. even in US.
    In fact here in nordic countries, you are actually employed as a employee of the University and your salary as a PhD student is same as an entry level engineer with a masters degree in the industry.

    • @CCP-Lies
      @CCP-Lies 2 ปีที่แล้ว

      Phd is worth it if you want be economist, mathematician, physicist or statistician
      Mostly they would want master or phd to get the job

    • @matouskrizek1668
      @matouskrizek1668 2 ปีที่แล้ว +1

      @@CCP-Lies PhD is also necessary if you want to teach on an university.

  • @jeffreylangley4354
    @jeffreylangley4354 3 ปีที่แล้ว +14

    I just finished my master's degree and am planning to start my PhD next year. I have been very fortunate with my own decision to pursue this PhD. My funding will be fully paid through the Post 9/11 GI Bill from serving in the US Navy. I will be pursuing the degree in New Zealand, which is largely based on the European education system. The time requirement is 3-4 years full time, and I intend on completing it in that time. Additionally, it's an expansion of my master's thesis, so a lot of my literature review has already been done. However, I agree with many of the points of your video on why most people should not go for the PhD. It really sounds like the US education system is very flawed, and I don't believe the top ranking universities in the US (and by extension, the world) versus other countries matters all that much. As a US citizen living in New Zealand, many of my peers ask me why I didn't choose to go to a US university. Among other reasons, I tell them that there really isn't much difference between a university in the top 100 versus one in the top 1000 globally. They're both still in the top 1% of total universities in the world.

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +1

      That's a good point Jeffrey. And yes the education sys here has a lot of flaws

    • @dankschang
      @dankschang 2 ปีที่แล้ว

      Smart move...to do your PhD away from US university.

  • @sbombfitness
    @sbombfitness 3 ปีที่แล้ว +3

    My dad was doing a chemical engineering PhD but then just left that and got a masters degree in computer science and an MBA. And now, he works for Microsoft and makes over $220k a year

  • @tmcblastyoutuber2869
    @tmcblastyoutuber2869 3 ปีที่แล้ว +11

    I plan on getting my PhD when I’m within the 25-27 age range so I can further grow my business and have time to collaborate with TH-cam content creators!

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว

      Plan it out. Best of luck

  • @paulomolina4723
    @paulomolina4723 3 ปีที่แล้ว +15

    The intro says it all.. This will be another interesting video. Not skipping ads because you deserve it a lot Shane.

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว

      Thanks Paulo

    • @yousef_Elnabawy
      @yousef_Elnabawy 3 ปีที่แล้ว +1

      Yeah I do that too...cuz he really deserves ❤👌

  • @cosmicthunderdoome5250
    @cosmicthunderdoome5250 3 ปีที่แล้ว +20

    Well now I know I want to get a Master is Chemical Engineering instead of a PhD in Biochemistry. Thank you for making this video.

  • @marksmith4892
    @marksmith4892 3 ปีที่แล้ว +6

    Hi Shane, there are several points I'd like to make about this: 1) what you said holds true ONLY IF you don't get a fellowship or a Teacher's Assistant position because if you get either one of those then all your tuition is waived and you get a stipend, which is a small amount to cover your essentials like housing and food. I knew a lot of people who applied for both grad school admission and a fellowship or TA position and when they got the former but not the latter, they abandoned grad school. So my point is that if someone wants to go to grad school then they need not abandon the attempt before determining whether their costs will be waived & covered. 2) I would disagree that masters degrees are not worth it under a very substantial number of circumstances. For example, getting an MBA goes a long way to distinguish professionals particularly in STEM fields. In Engineering, for example, an MBA is often what qualifies an engineer for upper management where there is huge money to be made. This only makes sense since an engineer would know everything about the science & physics but nothing about business and finance. If you want to run the company, then you need both sets of skills. 3) For those who fail to secure a fellowship or TA position, there is STILL another possibility. In many cases, your employer will pay your tuition. For example, if you live in Chicago and want to attend Northwestern University or wherever, it's likely that you can go to grad school part time FREE. I'm an actuary and my employer pays up to $5,500 in tuition per year, every year, whenever i want. i pay zero. 4) often, people who are older and spend a lot of time in industry decide that they'd like to contribute to the world's pool of knowledge by getting a Ph.D. so you need not be "only" 33 to do that. Professors often publish their best work in their 70s! Most people reading this are probably young so they only see $$$$. i know i did, but that's only because you are hungry. Once you have everything you want, you'll start looking around for meaning in life and you'll see that academia can be a pretty attractive option. In fact I would not want to live in a place where I wasn't close to an institution of higher learning because the pleasures of the world are only good insofar as they engage your faculties, and education is a very good way to expand your faculties. With knowledge, you can do more and get more out of life. Not everything can be found in the mall, y'know?

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว

      Thanks for sharing your thoughts Mark. Cheers!

    • @vinceedwards6213
      @vinceedwards6213 3 ปีที่แล้ว +1

      Mark I think this guy would rather spend 12 hrs a day thinking of how he could avoid hard work.

  • @aswinprasad1011
    @aswinprasad1011 3 ปีที่แล้ว +7

    My statistics professor got her PhD in statistics. She spent 10 years in school and she said it was not fun. However it all worked out in the end as she became a tenured professor and she also became a department chair. So yeah, planning is a priority when going for a PhD!

  • @michaelarmah3318
    @michaelarmah3318 3 ปีที่แล้ว +15

    Just a heads up to anyone thinking about pursing graduate school: a lot of this information is incorrect. If you look at nearly any PhD program at a university near you, the time to completion is around 5 years on its own (some people finish in 3 others need up to 6). Also the spreadsheet he created (and the website talking about premiums for each degree) fails to factor in upwards mobility in a company. Often times people with a bachelor's degree aren't able to move up because someone with a Master's or Ph.D with similar experience wants the job and the company would prefer not having to take time training the person with the bachelor's degree (a higher degree could also mean being qualified for a promotion faster). Promotions like these also come with a significant promotion which the spreadsheet is incapable of simulating. I would strongly advise against looking at that spreadsheet at all because of the numerous variables it fails to account for. This is not to say a Ph.D will be worth it for you and your career, but this video does not provide accurate information about the process.

    • @Zlzal77
      @Zlzal77 2 ปีที่แล้ว +1

      Actually, I am PhD student. I finished my master degree in 15 months. And I think PhD gonna take like 4 years up to 6. I don't know why he just tell us a wrong Information?

  • @stevenrobert4444
    @stevenrobert4444 3 ปีที่แล้ว +71

    Could we get more about data science degrees? Like how to get into this field after making a switch?

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +21

      Stay tuned for it Steven

    • @riggerman362
      @riggerman362 3 ปีที่แล้ว +2

      I am also (patiently) waiting for this! What field are you in currently Steven?

    • @Mr.Crow7
      @Mr.Crow7 3 ปีที่แล้ว +1

      I'm glad you brought this up. I've been seriously thinking about going into the data science t data analytics field.

    • @book_of_kelis
      @book_of_kelis 3 ปีที่แล้ว

      I also am interested in this!

    • @xKhfan213x
      @xKhfan213x 3 ปีที่แล้ว +5

      Definitely wait for his video but a heads up is either a mathematics degree with a minor in computer science or a cs degree with a minor in mathematics. Obviously this isn't the only options but they are by far the best ideas to get your foot in the door. Linear algebra will become your best friend, especially if going into machine learning or ai. Data science is really math intensive compared to other cs fields which is why I recommend the math tied into your degree.
      Now with just a basic cs degree with no minor, you'll still be extremely well off for this position (since most cs degrees require linear algebra along the way) but your gonna really want a foundation in math. Your gonna be working on manipulating data sets and figuring out different outcomes based on your data. Most of the time the data will be displayed in a matrix format which is the need for linear algebra.
      But yeah, the general idea is to get a solid foundation is cs and an even better foundation in math. Knowing how to program won't get you into a data science roll, unfortunately the math is almost more important then the cs (i believe the math side is far more important then the programming but others tend to disagree).
      Now again these aren't the only ways to get into data science. Hell, my fiancé is a data scientist and she only holds a math degree but youll find an easier time with one of these paths.

  • @lawstud1879
    @lawstud1879 6 หลายเดือนก่อน +2

    WHAT FOR? I am unemployed 5 years after my PhD in LAW in Switzerland
    - I am the author of 8 books, more than 1200 citations, 4 degrees, fluent in 4 languages, a lot of connections and I am unemployed person! I applied for 2200 positions without any success.

    • @littlebrit
      @littlebrit 4 หลายเดือนก่อน

      Are you kidding ?

    • @lawstud1879
      @lawstud1879 4 หลายเดือนก่อน +1

      As I said, I applied for 2200 jobs in academia, administration, private sector and O interviews. Strange but it is true. They completely ignore my CV.
      I would say that there is a greater chance that a cleaner in a store without a high school diploma will get a job as an assistant or associate professor than that I will get one. I am ignored by all kinds of institutions for at least 6 years.

    • @littlebrit
      @littlebrit 4 หลายเดือนก่อน

      @@lawstud1879 Have you tried abroad ? I usually have to change countries every 3-5 years for jobs. Fun first, but sucks sometimes

    • @lawstud1879
      @lawstud1879 4 หลายเดือนก่อน

      @@littlebrit Yes. Many times, without any response. They problably dont like my CV.

  • @sharonjanethague7181
    @sharonjanethague7181 2 ปีที่แล้ว +4

    Instead of a PhD, I chose an undergraduate degree in law after graduating with an MA in English. This meant easy access to the top law school in my country. I have a job and no debt. People need to think, especially if they want a family and/or a life!

  • @norealleehab2043
    @norealleehab2043 3 ปีที่แล้ว +30

    I knew it , when I was younger I was like when u grow up , I will get my degree , then my masters then my PhD, I am 18 years old now and I realised that if I get the masters then it is already than enough for me really along with my bachelors , and I might not get my masters too , but this video confirmed my realisation 👍😁 I know someone who is 27 years old, she got her degree and masters and PhD and she is currently unemployed because most of the jobs she applied too said that she is either "overqualified" or that there are limited jobs for her field out there , so I am convinced that it is not worth it 👍thanks shane , great as always 😉 😀

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +3

      Thanks a lot for sharing that Norealle. Appreciate your insights

    • @norealleehab2043
      @norealleehab2043 3 ปีที่แล้ว +1

      You're welcome , thought it would help others 😊 hope you survive the 30 day challenge , you are almost at the end , you can do it !☺💙

    • @yousef_Elnabawy
      @yousef_Elnabawy 3 ปีที่แล้ว +2

      Thanks for sharing that ❤

    • @allygaretzka2323
      @allygaretzka2323 3 ปีที่แล้ว +4

      How can someone be overqualified? They can’t afford to pay her or why’s that? Excuse my ignorance, I just never understood that.

    • @yousef_Elnabawy
      @yousef_Elnabawy 3 ปีที่แล้ว +5

      @@allygaretzka2323 yes they can't afford to pay for her

  • @ShawolB2uty21
    @ShawolB2uty21 3 ปีที่แล้ว +9

    Could you maybe do a video on combined MD-Ph.D programs? I understand that it’s quite specific but there si a serious lack of information online. Thanks for your hard work, as always :)

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +3

      Great suggestion! Thanks

  • @laraaraeken
    @laraaraeken 3 ปีที่แล้ว +92

    thanking god everyday for making me be born in an european country, that student debt is actually astounding

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +15

      We could only hope it was the same here in America

    • @adampytlik8453
      @adampytlik8453 3 ปีที่แล้ว +1

      Yea all that awaits me is to pay rent thank god, I am from Czechia (Czech republic), so our education system isn't as good as in countries like Germany, Denmark, Netherlands etc., but it's definitely better than every other country in Central, Eastern and Southern Europe. Not to mention I can go to stufy to a country like Germany or Denmark anyway lol

    • @laraaraeken
      @laraaraeken 3 ปีที่แล้ว +4

      @@adampytlik8453 my brother is in your country right now in med school! i am from portugal and our education system is also not that great, but at least the fees are not that hard to pay in time

    • @adampytlik8453
      @adampytlik8453 3 ปีที่แล้ว

      @@laraaraeken Let me guess, is he in the Charles university?

    • @laraaraeken
      @laraaraeken 3 ปีที่แล้ว

      @@adampytlik8453 i actually dont kniw the name of the University, all i know is that its in Prague

  • @madhuvantipatil4708
    @madhuvantipatil4708 ปีที่แล้ว +2

    Dear Shane, thank you for making this video. It was great to watch it, especially the math of when a PhD and masters holder can catch up to a bachelor's holder. I do have a biomed PhD. It was a fully-funded program so I got the degree in the US without going into debt. However, I was so depressed by the end of my PhD and during my post-doc that I had to move back home with my parents to even think of getting a full-time job. I had a terrible PhD advisor who actively held back student publications. I was hoping to apply to a Green Card after completing my PhD but I could not make that happen with poor mental health and lack of a first author publication. I do have a job now in my PhD field but I am also learning content marketing to broaden the number of available jobs for me. I am almost 40. The time and instability at the end of my PhD was totally not worth it for my personal and professional life both.

  • @starz2020
    @starz2020 3 ปีที่แล้ว +6

    In Malaysia , the government provides special loan with lower interest rate for undergraduate and post graduate students ...students are only required to pay their loan once they have started to work....

  • @doglover8178
    @doglover8178 3 ปีที่แล้ว +7

    This video is golden bro! You covered some really important points about going for a PhD.

  • @collinthomas5271
    @collinthomas5271 3 ปีที่แล้ว +3

    Always best to have a plan. As an aerospace PhD student, I entered the aerospace work force for a large aerospace/defense contractor and found a way to manage developing my professional career and academic pursuits simultaneously not to mention the specific field I’m studying is highly coveted by defense and spacecraft applications. Should be done in a couple years. Plan it out, make sure it’s as funded as possible and become a rockstar in your field!

  • @BecomingDrBaker
    @BecomingDrBaker 3 ปีที่แล้ว +6

    So glad my PhD is fully funded + a stipend!!

  • @xiaoq8329
    @xiaoq8329 3 ปีที่แล้ว +7

    But, money is not necessarily the only measure for a profession. A bachelor's degree can never get you an academic position though.

    • @anthonymorales842
      @anthonymorales842 3 ปีที่แล้ว

      Sadly very true doesn't matter if one has years of experience and some published papers. Thus the huge compromise in our work force. My best classes was field work

  • @seinfan9
    @seinfan9 ปีที่แล้ว +2

    Do not go to grad school unless your employer pays for it. Simple solution.

  • @kevinhernandez3787
    @kevinhernandez3787 3 ปีที่แล้ว +18

    I was reading about PhD's when this notification came up :O

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +3

      Let me know your thoughts on the video

    • @CarlosRamirez-to9is
      @CarlosRamirez-to9is 3 ปีที่แล้ว +2

      Google it's watching hahahaha

  • @sparrow2771
    @sparrow2771 3 ปีที่แล้ว +22

    Shane: You probably shouldn’t get a PhD
    Me, who is most likely not even going to college for four years: Oh don’t worry, I won’t

  • @MisterTutor2010
    @MisterTutor2010 3 ปีที่แล้ว +3

    I borrowed $35,000 for everything from freshman to PhD.
    Paid off everything 5 years later.

  • @thespiderexterminator2683
    @thespiderexterminator2683 3 ปีที่แล้ว +5

    We need more personal finance channels like this one.. Great content! ❤

  • @smwk2017
    @smwk2017 ปีที่แล้ว +2

    You forgot to talk about hiring of adjunct professors (getting paid about $3 to $4k per course with no benefits) by universities instead of hiring PhD's for professor jobs that would lead to tenure.

  • @N7_CommanderShepard
    @N7_CommanderShepard 3 ปีที่แล้ว +3

    If you’re in STEM and you have to pay for your grad education, you’re doing it wrong. I’m in the process of applying to grad school in physics/astronomy and all the programs I’m applying to wave tuition and pay a stipend. I don’t know how it works in the humanities, but in STEM (specifically in physics) they pay you to get a PhD.

  • @stevenrobert4444
    @stevenrobert4444 3 ปีที่แล้ว +8

    Can you do make more content on Economics and finance majors? Scope, masters, jobs and everything ( after Covid 19 )?

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +2

      I might do so in the future Steven

  • @Citygal01
    @Citygal01 3 ปีที่แล้ว +13

    I’m a PhD student at 34 years old. I have no desire to become a professor. I’m a nurse and studying community health. I plan on continuing my work in the health care field and becoming an expert in my field. I’m taking out loans and have NO regrets. Reaching my goals is priceless. Hopefully I qualify for student loan forgiveness in the future.

    • @thedoge2155
      @thedoge2155 3 ปีที่แล้ว +2

      an expert at being a nurse? And u do understand that loan forgiveness is a scam?

    • @Citygal01
      @Citygal01 3 ปีที่แล้ว

      @@thedoge2155 No! An expert in my research topic. Nursing is just my job... scam!? Oh ok

    • @anthonymorales842
      @anthonymorales842 3 ปีที่แล้ว +1

      To me your pursuit of a PhD is admirable, it seems that is why those programs are developed. Certainly it is far from using an advanced degree to get a job.

    • @Citygal01
      @Citygal01 3 ปีที่แล้ว

      @@anthonymorales842 thank you Anthony! 🙏🏿😀

  • @etbedtalksAOH
    @etbedtalksAOH 3 ปีที่แล้ว +6

    Its also good if its a part time PhD while you are working as a professor .

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +1

      Thanks for sharing your thoughts Alen

  • @auntiemichelleoutdoorsygir9909
    @auntiemichelleoutdoorsygir9909 10 หลายเดือนก่อน +1

    Hi. Good content. What do you think of a 3-4 year doctoral degree such as a DrPH? I’m an empty nester, almost 50. Going back to school out of boredom? Here is the thing: so many retired folks that I work with that are my patients are bored. To have more knowledge, even using a phd to write books/papers may also be a health investment. Your body may not work when you are in your 70s but you’ll be able to sit behind a computer, teaching classes now that we have online zoom. I don’t want to be an old grandma cooking, cleaning, knitting excessively. I want to be a part of healthcare’s growth. I travel extensively and do all the fun socializing but now its much more rewarding to be able to do an online University connecting with others around the world, even attending global conferences. Depending on where you are in your life, a student loan isn’t as bad at my age, I would think. Sure, I’ll have debt but that’s where owning property and having a hospital pay for part of your University helps. I could talk on an on about this subject. If I was younger, and needed to raise a family, I wouldn’t get a PHD but wait until the kids are out of the house. Thoughts?

  • @emilynwo4254
    @emilynwo4254 3 ปีที่แล้ว +8

    Is there a difference between getting a PhD at US uni vs Europe/Canada uni in terms of career opportunities, personal finance, funding etc? Could you do a video on it please?

    • @nic5958
      @nic5958 3 ปีที่แล้ว

      I would also love to see this

  • @hh9172
    @hh9172 3 ปีที่แล้ว +3

    Not sure if what I suggest is happening, but PhD degrees need to be funded by corporates, research centers, philanthropy to support the knowledge edge a PhD candidate will get. Support is needed for minds seeking expansion of their knowledge which will help in many ways
    how such minds are appreciated indicates how a society functions
    It is jot the title that matters, it is the knowkedge, critical thinking and ability to add new dimensions reached to help society & humanity

  • @acausevic1
    @acausevic1 ปีที่แล้ว +1

    Phd is for people that like Academia and are naturally book smart or easily can pick up on things. For most people a degree is simply a means to unlock more $ in a particular career and is obtained for its practicality. I wanted to work from a young age and make $ as soon as I could. I never liked debt that I didn’t have to uptake. Some debts in life are necessary but many aren’t. The idea should be to avoid them all. The risk vs reward has to be assessed on an individual level.

  • @joshuabertrand9277
    @joshuabertrand9277 3 ปีที่แล้ว +2

    This is probably one of the best videos you have ever made. The breakdown of one's personal net worth through life is the biggest selling point.
    My only question is whether your numbers are based on PhD holders or all doctoral programs? Example: are professional degrees such as PharmD, MD, DVM, JD, etc. included?

  • @BoilsonA
    @BoilsonA ปีที่แล้ว +1

    I have PhD epidemiology. Training in properly management! Thankfully I'm an exceptionally hard worker to charge my career! That's life!

  • @MiguelAngel-kz5ku
    @MiguelAngel-kz5ku 3 ปีที่แล้ว +3

    I went into government without a degree and I'm figuring how to do my bachelor's and masters as cheap and fast as physically possible to check box's for higher level government jobs

  • @037_cse_jananir7
    @037_cse_jananir7 3 ปีที่แล้ว +6

    Shane. Can I ask you a question? How do you feel about your pharmacy career? Are you satisfied? I want to know more about Pharma like how is the work place like. I am
    just curious.

  • @jesser9155
    @jesser9155 2 ปีที่แล้ว +1

    Assuming people with Bachelors start off with 50k salaries is questionable. For a lot of the jobs in my area with a STEM degree, even 40k would be good.

  • @carlosroman8252
    @carlosroman8252 3 ปีที่แล้ว +4

    In some jurisdictions you need either a Psy.D. or a PhD to be a licensed psychologist.

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว

      Thanks for your input Carlos

  • @brooklyncrabtree5428
    @brooklyncrabtree5428 3 ปีที่แล้ว +4

    Out of curiosity, when are these numbers/screenshots being taken from? I know Bud Peterson hasn't been the president of GT for several months, so I was wondering how up to date they are, especially since they've been used in several videos at this point.
    Also, this video seems similar to your other videos on getting a PhD? I've seen several comments asking to distinguish between STEM & liberal arts doctorates, and I think there's more depth/research that you could show to make your "it depends" more thorough. (Like the Center for STEM Education and Innovation's 2013 article published in AIR that looked at the difference between STEM and SBE PhD recipients in terms of debt, funding, and time to degree completion. This has plenty of great graphs to demonstrate clear differences, like 72% of STEM PhD recipients in 2010 did not accrue any debt during graduate school, with a median time of 6.3 years to complete the degree.)
    Your videos do a good job increasing autodicaticism for the potential grad school students who want to know more about limitations in their field. Which is probably a good indicator on whether 5+ years of research is really for them. If they're not willing to look into the literature to find out, a PhD might not be for them. You bring up good basic points, and hopefully it does help folks decide to make a better plan for their personal finance/career before finishing their bachelor's degree.

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +1

      To answer the first question, it's on the description.. Second, thank you for sharing your insights. Cheers!

  • @moniquemichelle7295
    @moniquemichelle7295 ปีที่แล้ว +1

    Great video. You need strong interest and marketability exception for PhD. Otherwise it’s not worth it. Academics and research are the main options and the opportunity costs are far too great. This is true even for engineering PhDs, bc the bachelors is a professional degree. ChemE and JD. No regrets. Employer paid for JD.

    • @ShaneHummus
      @ShaneHummus  ปีที่แล้ว

      Thanks for sharing your insights!

  • @subzero494
    @subzero494 3 ปีที่แล้ว +2

    Great video Shane as always. Be careful though when looking at PhD salaries (at least for the stem field) because they also include postdoc salaries which are ridiculously low and are a waste of time if you aren't going into academia. Postdoc salaries being anywhere from 20 an hour to upper 40,000 range for two years (chemistry). If you look at just industry salary it is very likely to be significantly higher, but I have never seen statistics focusing only on industry. The video's message still stands though.

  • @standelasanantone2180
    @standelasanantone2180 3 ปีที่แล้ว +2

    I am now fully retired, in my late 50s, totally unencumbered, financially independent and earned my MBA ~ 30+ years ago; however, even though I have ZERO plans of ever going back to work... I have always held a desire to earn a doctorate (EdD). Now that I have the means and the time, I am considering going for it --- but my wife and adult children (who also have their Masters') think it would be a complete waste of time, effort and money for me to pursue. On one hand I see their point, but on the other hand it has been a personal 'goal' for decades. Thoughts?

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +1

      If money isn't an issue and you're doing it for fun then why not?

    • @Sona77.
      @Sona77. 3 ปีที่แล้ว +1

      School is really different than when you went. It’s going to be a lot to adjust to. I think you should enjoy your life !

  • @dennissun2443
    @dennissun2443 3 ปีที่แล้ว +12

    Phd is about passion.

  • @willsong1317
    @willsong1317 3 ปีที่แล้ว +3

    Thanks for always giving us the best information to guide us with important life decisions.

  • @123clash5
    @123clash5 3 ปีที่แล้ว +1

    Short answer for me: no. I thought I wanted a PhD in Nursing cause I thought I wanted to do research but through working at the bedside, and seeing how saturated and sucky academia is and how I realized via my research that nursing research doesn’t make all that much, I realize that I just want to be a good bedside nurse atm. I’m in no rush and have no desire to get a higher degree. My parents try to push me to get one but I feel like I’ll get no benefit.

  • @vvieites001
    @vvieites001 3 ปีที่แล้ว +1

    It seems odd to me that PhDs in humanities and social sciences are not funded compared to TEM degrees because I’ve always read that the social science PhDs are typically funded. At any rate, I got my PhD in psych in the US and it was funded with stipend, tuition remission, and health insurance. I also won various fellowships throughout grad school so I didn’t have to take out any loans for my PhD. I also did it for the love of learning and wanting to gain scholarship in an area I was really interested in researching. No regrets.

  • @misterj3133
    @misterj3133 3 ปีที่แล้ว +1

    Traditional PhD are not worth it. I would recommend executive doctoral programs where you can retain your job and benefits and become an academic doctor. Like you said, the purpose of the traditional PhD program is to be a source of cheap labor for the university, not really for training purposes.

  • @neoepicurean3772
    @neoepicurean3772 3 ปีที่แล้ว +1

    In the UK a PhD load is base rate + 1%, which is currently 1%. Really not bad.

  • @CyberDavid2413
    @CyberDavid2413 3 ปีที่แล้ว +1

    Here's a video suggestion, perhaps you can do a video dealing with the different computer security certifications. For example Sec+, CISSP, CISM, CITSO, and differentiate each from their purpose and value to see which one is more suitable to take and what not.

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +1

      Noted Jorge. Thanks for your video idea

  • @EyeOfTheGalaxy
    @EyeOfTheGalaxy 3 ปีที่แล้ว +4

    Can you make a video about community college? I think that would be an interesting video

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +2

      Noted

    • @danielejaclyn
      @danielejaclyn 3 ปีที่แล้ว

      I started with my Associates Degree at community college, transferred to a top school for BA (that I won’t have gotten into right out of hs), and am currently getting Masters-completely debt free. Community college was the best decision I made.

  • @kevinton7023
    @kevinton7023 3 ปีที่แล้ว +1

    a PhD might be worth it. If you're doing it in the Netherlands.
    Cause you're technically a professor or an university employee by most Dutch universities. You might get a salary And/or get other benefits as well

  • @Alex19781986
    @Alex19781986 3 ปีที่แล้ว +4

    This is a good test to check whether you’re suitable for a PhD or not.
    If you quit just because someone said something bad about it,
    you probably isn’t suitable for grad school in the first place.

  • @darkrebel123
    @darkrebel123 3 ปีที่แล้ว +7

    Biomedical science is the field to get a PhD in, they tend to be funded at least here in the US. Some of them even pay pretty well and come with decent benefits.

    • @rehaanvirani6764
      @rehaanvirani6764 3 ปีที่แล้ว +1

      Hii Sean! I am planning to study Biomedical Science at an undergrad level. I would love to have a conversation with you regarding your experiences and possibly ask for some advice.

    • @darkrebel123
      @darkrebel123 3 ปีที่แล้ว

      @@rehaanvirani6764 sorry I saw this comment 5 months late, but sure if you are still interested I can try and answer some questions!

    • @rehaanvirani6764
      @rehaanvirani6764 3 ปีที่แล้ว +1

      @@darkrebel123 Hii Sean, thanks for replying. I received numerous offers in the US to study Biomedical Sciences. But I thought I was jumping in a career I didn’t understand enough. So I gave in to my family’s choices and I’m gonna study Finance and administration this fall in Canada. 😊

    • @darkrebel123
      @darkrebel123 3 ปีที่แล้ว +1

      @@rehaanvirani6764 Good luck man! Finances sounds like a fun field to study!

  • @MA-rc2eo
    @MA-rc2eo 3 ปีที่แล้ว +1

    I like the way you present information. You make it clear and showed us the numbers

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +1

      Thanks for your feedback

  • @littlebrit
    @littlebrit 4 หลายเดือนก่อน

    The problem is that it expires. Masters and Bachelor degrees don't expire. I see often in job ads they want only candidates within 3 to 10 years after PhD. So, what to do ? Become a furniture at some university or accept it and quit. Can you work all life in one job every year repeating the same thing ?

  • @drmadjdsadjadi
    @drmadjdsadjadi 3 ปีที่แล้ว

    TL:DW - Do not get a PhD. If you do get a PhD, make sure it is fully funded. If you are not fully funded, do not take out any loans. If you do take out loans, do not get it in a degree program that requires a PhD to get a job because you are likely to not finish. If you do end up finishing you will likely end up becoming an adjunct professor that will make you even less money than you would with a Bachelor’s degree in the first place. So, you need to start with an excellent bachelor’s degree but then you do not need to get a PhD, so . . . do not get a PhD.
    Brought to you by a full professor of economics who happens to be at the top of this grand pyramid scheme.

  • @muhammadchaldun9030
    @muhammadchaldun9030 8 วันที่ผ่านมา

    Ph.D. learning is a lonely journey. No success with Ph.D. degree.

  • @ninjaxpanda4070
    @ninjaxpanda4070 4 หลายเดือนก่อน

    3rd reason to get a PhD-- personal fulfillment\goal... especially when it's free or steeply discounted from the GI Bill (military benefits).

  • @nixonhanna
    @nixonhanna 3 ปีที่แล้ว +1

    Honestly after seeing that table at the end, it seems like it would be better to get a masters rather than a bachelors depending on the major but PhD definitely doesn’t make sense lol

  • @nunoromao6875
    @nunoromao6875 3 ปีที่แล้ว

    Is a PhD Degree worth it? Simple answer: YES!! No Doubt about it.
    Why? Because I don't live in the USA and a PhD in Portugal can cost arround 1200€ (~ $1474) each year , so.... no student loans here....
    Our Bachelors Degrees are called "Licenciate Degree", and you can study for 3 years.
    A Master's Degree is usually 2 years. A PhD can be 3, 4 or 5 years, depending on the course...
    Our public education system has very low prices (yes there are exceptions), and is usually worth investing in your education.
    If you don't go to a Private Education institution, you don't have to worry about student loans....

  • @MisterTutor2010
    @MisterTutor2010 3 ปีที่แล้ว +2

    My biochemistry PhD took 5.5 years.

  • @haroombe123
    @haroombe123 ปีที่แล้ว

    What I dont understand is if someone is genuinely interested in a subject, rather than pay for a phd, why not just attend all the lectures and bond with professors and peers WITHOUT PAYING THE EQUIVALENT OF A SOFTWARE ENGINEERS SALARY? We have the internet, free lectures in person and online, is that not enough? and to those who need guidance on what to study, exploring a subject or field and discovering things is what makes it more rewarding and interesting

  • @brianketelboeter8522
    @brianketelboeter8522 3 ปีที่แล้ว +1

    By ignoring the post-doc world, I would suggest he is being kind to the job prospects of ph.ds here. Furthermore your phd supervisor controls your life, and depending on who that is, can largely destroy your opportunities. it is very possible that getting a phd will be a wonderful experience but, as i can tell you first-hand, it can also destroy your life.

  • @thomaskatt4450
    @thomaskatt4450 3 ปีที่แล้ว +8

    276 years old ay ? Good for career oriented vampires. :)

  • @midastouchpr3563
    @midastouchpr3563 3 ปีที่แล้ว

    One of my friends got a PhD degree in Business Administration but got no job for 5 years.

  • @dannysze8183
    @dannysze8183 3 ปีที่แล้ว +1

    studying a phd is not for the money or career. it is an intellectual quest. wrong presumption and intention.

  • @pomo1697
    @pomo1697 ปีที่แล้ว +1

    A PHD can save if you commite a misdemeanor

  • @fa1509
    @fa1509 3 ปีที่แล้ว +1

    You should make a video on every major you do and how many years on average it will take you to pay off your debt.

  • @margaretmarie8846
    @margaretmarie8846 3 ปีที่แล้ว +2

    You should do a video over a Doctorate in Psychology.

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +2

      Noted

    • @alexandra6322
      @alexandra6322 3 ปีที่แล้ว +1

      Yeah! I want to become a clinical psychologist, which requires a Ph.D

    • @squeet6831
      @squeet6831 3 ปีที่แล้ว

      @@alexandra6322 same. Open a practice, create a TH-cam channel, do research, teach, write books, offer free services to those who can't afford it but need it and for those who would benefit the most from therapy. So many things I want to do with it.

  • @piersabani1898
    @piersabani1898 3 ปีที่แล้ว +5

    I find the content of your channel quite interesting. However, I don’t always agree with some of the things you talk about. Being a person who is actively looking for PhD programs, I have found that the majority of them are fully founded for 5 years (the university pays for tuition, health insurance, etc) also, students are given the chance to teach undergraduate students and get payed for their services. Of course their salaries are not very big but are more than enough to support themselves financially. That is a positive thing that America institutions provide to students in contrast with European ones (mostly talking about British Universities) that do not provide any funds to students what so ever. As far as the duration of PhDs, I think you are exaggerating a bit. The 8.2 years might refer to stem related fields and not so much about all PhDs. Plenty of my friends who got their PhDs in Literature, Communication, psychology, business, political science etc got their PhDs writhing 4-6 years depending the program.

  • @afrog8574
    @afrog8574 7 หลายเดือนก่อน

    How does a bachelors degree jump from 50k to 100k in a year? Me and all my friends fall right into that category and I don’t see that kind of growth at all lmao

  • @donthatethegame42
    @donthatethegame42 6 หลายเดือนก่อน

    OK, I am bailing at 2:00, but this doesn't seem well researched. Social science PhDs like regularly fully funded at US universities (and can confirm wit personal experience psychology and political science). In fact, it's common experience that if you can't be fully funded, you just don't go. And to be clear, neither one of those disciples have a great deal of
    value at the bachelor degree level.

  • @goinrich25
    @goinrich25 3 ปีที่แล้ว +1

    Your statistics are incomplete and don’t paint the full picture. 8.2 years is for all students (full time and part time). For full time students, 5.8 years is the average. The extra 2.4 years of being a part time student means less overall opportunity cost, as the student is working. Love your videos, but please make sure to paint a complete and accurate picture if you are going to give advice out. In the end, the answer to your first question is still “it depends”, but your statistics skewed some of the information. Also, the time it takes to complete most STEM PhDs is actually less than others, due to the fact that many Arts and Education-type programs have a higher number of part-time students caused by issues with their original degree being nearly worthless, in terms of cost.

    • @Citygal01
      @Citygal01 3 ปีที่แล้ว

      The average time is 5-10 years! Very accurate. Everyone’s experience is different.

    • @goinrich25
      @goinrich25 3 ปีที่แล้ว

      @@Citygal01 Did you even read my post? At all? I explicitly went into detail about full-time vs. part-time, STEM vs. non-STEM, etc. So, while Shane is technically correct, it doesn’t paint a whole picture. It’s like saying that “The Creation of Adam” is the Sistine Chapel painting. While technically correct, it’s not the full picture and there is much much more to it. Michelangelo didn’t take 4 years to paint “The Creation of Adam”; he took 4 years to paint the entire Sistine Chapel ceiling. That’s a MUCH more accurate picture of the totality of it. So, again, all I’m saying to Shane is to paint a total picture instead of a partial one, as people make decision based on videos like these, regardless of any disclaimers or whether or not they should. It’s really just a friendly tip from someone who has been around the block a time or 5. I’m not putting him down or anything.

    • @Citygal01
      @Citygal01 3 ปีที่แล้ว

      @@goinrich25 🥱

  • @chrismarsh4575
    @chrismarsh4575 3 ปีที่แล้ว +1

    If you're taking a utilitarian approach to decide whether or not you should get a PhD, you should not get a PhD.

  • @vvieites001
    @vvieites001 3 ปีที่แล้ว

    There are plenty of research associate jobs outside of academia that pay 80-90k to start. Not all is lost if you get your PhD, having acquired years worth of research experience, you can still do research outside academia and make a decent living. And most social science PhDs ARE funded (not sure about the humanities but psych PhDs are usually funded)

  • @XiyuYang
    @XiyuYang 3 ปีที่แล้ว

    IMO if you measure PhD by its worthiness, the answer will always be no. Because a PhD definitely doesn’t guarantee a better career or a higher pay, and in most cases will overqualify you for the job market, since the only type of job market that requires a PhD is tenure tracked professorship, or research fellowships in an institute.
    However, if you’re certain that research is your gig and you're ready for a life time commitment, yes, do a PhD. Do manage your expectations of a PhD program though, you will always be overworked, underpaid, exploited and under a tremendous amount of stress, for at least 4 years.
    Also, never, never, never pay for grad school out of your own pocket.

  • @mikey10006
    @mikey10006 3 ปีที่แล้ว +3

    Do one on masters! I'm currently doing my degree in EE for free and I'm planning on taking out a loan to do my masters afterwards in EE or CS since I want to do cutting edge work

  • @danielmonarrez6029
    @danielmonarrez6029 ปีที่แล้ว

    All the laddies who went to barrington high school class of 2015 we called them hard workers

  • @jelloMadison
    @jelloMadison 3 ปีที่แล้ว +1

    Unless your PhD is fully funded, it’s probably not worth it. “It depends” is a lawyer answer, trust me, I know, lol.

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +1

      Is being a lawyer overrated...?
      th-cam.com/video/pqLk223Ipbo/w-d-xo.html

  • @Luke-nn4pm
    @Luke-nn4pm 3 ปีที่แล้ว +3

    Shane, do you have an opinion on moving from the US to another country for more affordable college?

    • @hi-gf5yl
      @hi-gf5yl 3 ปีที่แล้ว

      Not Shane but college should be more affordable in the US as you can live with your parents and receive federal and state financial aid as a citizen. Unless you happened to receive a full ride abroad, it should be more affordable to go to college in the US. I can't say for certain though because I don't have too much knowledge of colleges outside the US, but it should be cheaper to stay close to home and attend your local state university or a community college.

  • @siaprasad8400
    @siaprasad8400 3 ปีที่แล้ว +1

    Great video!!! Love your channel ❤️

  • @danielalexandermarroquin5667
    @danielalexandermarroquin5667 3 ปีที่แล้ว

    US Citizen here. I moved to Spain and I am doing my PHD in the Complutense University and I pay 234 euros a year. I could have gone to UC Berkeley and paid 14,255 a year but no thanks.

  • @honjokun0615
    @honjokun0615 3 ปีที่แล้ว

    Hi Shane. Great video. Based on my own experience, I agree with you for the most part. However, I personally found one X-factor with regard to the PhD and personal finance.
    Frugality. Living on a 20k stipend taught me how to cook for myself and pack lunch, use public transportation, shop for secondhand clothes while still appearing presentable. I also found out about the Dave Ramsey Show and started reading about investing and personal finance in my free time. I kept living like a grad student after graduation and right now I'm investing about 60% of my pay each month. Working as a junior level instructor does not require too much upkeep :)

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +1

      Hey there! thanks a lot for sharing your views. Cheers!

  • @mesh7342
    @mesh7342 3 ปีที่แล้ว +2

    hello! Can u make a video that includes cognitive sciences degree :) thank u for ur great content. 🖤

    • @ShaneHummus
      @ShaneHummus  3 ปีที่แล้ว +1

      Noted

    • @avatardan9317
      @avatardan9317 2 ปีที่แล้ว

      @@ShaneHummus i still do not see any cog sci vid shane...