What Is The Value Of A PhD?
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- เผยแพร่เมื่อ 28 ก.ค. 2024
- The National Institutes of Health say that starting postdocs should be paid at least $47,484.
Unfortunately, however, the AVERAGE postdoc salary in the U.S. is only $46, 341.
These salaries are worse in many other countries.
The simple truth is your PhD is NOT valuable in academia.
That being said, your PhD is still very valuable.
A Scientist I position in industry pays $81,887 now on average.
A Scientist II position in industry pays $88,687 now.
And a Senior Scientist position (where many PhDs start) pays $101,000.
No matter your PhD background - life sciences, physical sciences, engineering, social sciences, etc - you will make 50% or less of
what you're worth in academia.
Quit wasting time and damaging your career trajectory.
Start executing your industry job search.
If you have a PhD, you can do meaningful work AND be paid well for it.
Always remember your value as a PhD.
Get more information on leveraging your PhD in industry: cheekyscientist.com/associati...
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You are the guy who was teaching about “Charisma”? Good for you man, keep hustling
The truth is ppl want to get paid a high starting salary simply for earning the PhD. The only reason why doctors make so much money is because there are few of them and the healthcare industry is protected. If ppl with phds are theoretically unlimited, then it strains the profession.
As PhD graduated from Australia. The income for PostDoc could be higher in Australia than USA but the number of PostDoc positions is far lower in Aus than USA.
Thank you for watching. See my latest video for the reality behind postdocs!
The grain argument for making a good video for us is Sir. We are looking forward to making any videos and looking forward to our passengers.
Cheeky Scientists is an incredible platform for PhD's to get hired. Thank You
Hats off for Cheeky Scientist!!
those are pretty close
Spoken like a true Ph.D!
PhD in business makes 100k as a prof, but it boils down on citations prior to graduation.
Jonathan Brotto wheres the proof, or is it speculation
hi there I just now came across your channel and it's amazing.Thanks for making these videos.The doubt I have is about MD vs phd. can you please tell me is MD in Philippines is better or phd from USA.
Hi - this may ultimately come down to what type of career you want. Do you know what types of positions interest you most?
Cheeky Scientist I like to teach. Teaching is my passion and simultaneously keep doing research. But keeping in mind the current funding crisis and few faculty openings I sometimes feel an MD is a better option as I an teach and do research plus have a job security.
Yes, this is true. The funding of PhDs can be unpredictable and quite low, in most cases. Additionally, the job prospects for PhDs in academia is not good. With an MD, you will be able to teach and research, if you wish. You may also want to consider where you want to be/live. Do you want to work in the Philippines or the US? This may also shape your decision.
Cheeky Scientist I would want to clear the USMLE and get trained in good hospital 🏥 but eventually build my own hospital and serve the needy.I have a passion for teaching and research as well and with a phd also one can build a hospital 🏥 but the fact of job insecurity in academia and other things make me inclined towards MD.
Sounds like you have a lot to consider, but your goals are noble! Have you seen our information about the Cheeky Science Association? You can find more here: cheekyscientist.com/association-learn-more/. It sounds like you would benefit from learning more about the resources we offer.
Hi Cheeky Scientist ! I know this is a different field but do you think it would be worth it to get a 2 year DBA for business? Basically after my 4 years of college I would choose to get a doctorate over a masters (1 year) in business. Do you think it would benefit me greatly do this? Or would it be a waste in that field?
Hi - it depends on your overall career goals and life circumstances. If the DBA is not a huge expense and not much time for you, and you live comfortably now, having a doctorate will make you a stronger candidate for industry jobs. But talk to others in the program and networking with DBAs from that specific college/university. Are they getting better jobs? Is the program really 2 years, or more? Try to go to the source and weigh if this is worth it to you. Does this make sense?
Cheeky Scientist My goal is to own my own franchise as fast as possible.
Do you have other entrepreneurs from the DBA doing the same?
Cheeky Scientist I do not, i was just looking it up online as the fastest way to get a dba.
Hello sir , I would like to know what is the difference in the kind of research taking place in academia with that of an industry?
Which one should be more satisfying? Other than the money
Hi Sourav, great question! Check out these two blog articles:
cheekyscientist.com/academia-and-industry-differ-for-research-scientists/
cheekyscientist.com/why-its-better-to-be-research-scientist-in-industry-than-in-academia/
Are you working on your transition to industry? Let us know if we can be of any help: support@cheekyscientist.com
Academia is more into theoretical part of the subject , and industry If at al requires research ( in majority cases doesn't) it will require application based research on same subject, but in industry only 5 percent research is required, rest of them are expected to work function and perform like a machine.. it's exhaustive (specially MNC ) old work culture companies are better in my opinion , if you are opting for industry and a company , go for the one who has a background of being the segment first in a product, because rest of the companies follows their footprints
Someone once said, “that and a quarter will get you a cup of coffee “, in reference to the value of a PhD. My experience (20 years post PhD) is that a PhD will cost you in many ways. I would suggest hanging it on your wall, as a reminder of a mistake made, and NEVER put it on a resume when trying to get a real world job.
This advice is given to PhDs too often and it is completely false. Your PhD is not a liability, and the person who made that comment to you is in the minority with their view. What is true, is that often PhDs are unsure of how to communicate the value of their degree to an employer. So, the employer ends up thinking the person with the PhD is not a good fit and misses out on what would have been an incredibly valuable employee. However, when PhDs know how to successfully translate and communicate the skills they learned as a PhD student and/or postdoc they become a highly sought after job candidate, we see this happen time and again. PhDs know how to innovate and learn better and faster than almost anyone else. Employers want these skills, they are an asset and an advantage.
@@CheekyScientist Yup, completely false, as I completely completely experienced the completeness of this effect in more than one instance. Granting, I work in the bullshit backwater of all careers, agriculture. I suggest though that one of the first things you should do with your Ph.D., is use it to understand that you don't know everything.
Cheeky Scientist p
Thinking about going for a PhD in Anthropology. I’m sure there are industry jobs and in business that will be good fits. What do you think? Open to ideas!
haha, you didn't give me a chance to provide examples of what industries have a demand for anthropologists after you asked the question. The one area of demand that I can think of is actually Journalism. Both professions use a similar skill set. Just finished a Master's Degree in the Digital Humanities this Spring, however, and I may have the research skills to do what I really want to do (later in my career). When asking professors about PhD programs they all said to think about what I would consider doing after the degree... Teaching is Not one of my immediate interests, so ya...
To be honest, a lot of water has passed under the bridge since writing this post. I do have a Plan B and it's the only trade off I'd consider if not committing to a PhD program, which is to go make millions of dollars...
Are you talking to yourself?
The cheap ones we'll it's actually easier than my bachelor with all these required credits, custom courses and master level number of graduate courses... depends on what school you go to. But I took anthropology at mine and it was an insane amount of content but it wasn't anything abstract.
Hello
I am planning for phd in next year in US. My interest is in immunology. But still I am in doubt in which area I will get PhD. So I would like to know if my PhD (irrespective of the research area) will make me employable in the industry as I dont like to go for post docs and further in accademics but I saw many people not getting jobs after phd and even post doc sometimes which made me quite fearful. Regards . Thanks.
Kindly reply ..
Hi Chaity - the job market is tough and right now only about 1 in 5 PhDs ends up with a tenure-track jobs, and things continue to look bad. The good news is your PhD will be valuable in industry. But you really want to consider what you are interested in working on for 5-7 years - you want to pick an area that interests you because you will be spending a ton of time working on this material. In the meantime, you should go to phdsgethired.com and view testimonials from PhDs who have made industry transitions.
Did you get your PhD?
Hi. Does what you say, apply to a PhD in audiology?
Yes, we've helped PhDs from all backgrounds successfully transition into industry! For more specific guidance for, you can access our free career guide here: manychat.com/l4/mycheekyscientist
I think you need to mention more how the NIH has a national guideline of 47k a year for first year post docs but the national average is 46k
That's absolutely true, Joseph. The NIH is just that - a guideline. Many colleges and universities do not follow this for their postdocs and pay them less.
Finally, some sense.
Hi! Do you have any suggestions about difference in a value of a Ph.D from, for example, Harvard or MIT and an averege postgrad school?
General wisdom suggests that departments matter more than university prestige once you are at the graduate level, but, of course, a prestigious university will look good. The true value should be looking at student support and career placement, and you should try to see if you can speak with current PhD students about the grad school experience. Are you deciding between school at the moment?
Cheeky Scientist hi please can i have suggestions from you where to find postdoc scholarship . Thank you
SOo, Cheeky Scientist IFF you do decide on PhD 'make it count' major in STEM.
Academia and Social Sciences are behind with the Times.
Hi Johnny - there are so many great opportunities to do meaningful work available to in industry, regardless of your PhD background!
Sounds to me like you are better off not going to get a PhD and instead going for a trade or apprenticeship that can be paid for by a workforce program of your state. Many who go the apprenticeship route will more likely have a higher ROI as well as start out making more than many college graduates at any level. I have several degrees up to a Masters and have dreamed of a PhD but know that it will not really open any doors up by itself to a higher paying job anymore than a trade or tech apprenticeship would. I'm in higher education and after 10 years of working from a tutor,to adjunct instructor, to mid level admin have decided to go the apprentice route into tech.
You don't do PhD for money. That's what i always thought. And i would never buy a book from an author who wasnt a PhD.
Okay.
Good for you.
Live in that bubble.
May I ask a question? So you mean for PhD holders the industry sector is better. But you meant in one of your videos that for non holders like me (I'm about to finish my master degree in Engineering) the industry is better. But you mentioned also that a PhD scientist starts with about 100,000. I think it's good. Simply due to the following:
1. PhD is not bad for career. It's getting a degree and acquiring good knowledge.
2. Starting with more than 100,000 is better than starting with around 60,000. It also means starting with higher position.
3. Being under professors is better than being under managers.
4. Can a beginner engineer with 60,000 a year get more than 100,000 after 3-5Years(the same period for a PhD )? I doubt that.
5. So given the above mentioned and your videos and your advice, would you recommend searching for doctorate programs in industrial companies? This way one can get industrial experience, and knowledge at the same time. Or what would you recommend?
Hi Tim - it's great that you are thinking about this. Some of what you mention here is based off of personal preference - for example, there is no rule that says working with professors is better than working with managers. We've helped many students deal with abusive advisor situations, many situations that would not occur in industry with an HR department. That said, if you want to be in academia, then the doctorate is the way to go. If you know you want industry, you likely don't need a doctorate. Some of the doctorates you mention through industry might be a good middle ground if you really want to get a PhD. Does this make sense? Tell us a little more.
Cheeky Scientist Thanks for the reply. You're right. I don't want to stay in the academia and prefer it more in the industry. However I'm still thinking that getting a PhD is awesome for the career since you also mentioned that a PhD starts normally with a salary around 100,000. So if we wanna talk everything in average then working in the industry and trying to get a PhD is good. I've heard about companies in Germany like Siemens who have such programs. Do you recommend some in the U.S or international?
That's good to hear, Tim. Having clear, manageable goals will help you land where you want. With regard to the programs you mention - I think it depends on where you want to be, the conditions of the PhD, the length, and what the job prospects look like. Have you explored many of these programs?
Your goal should be to own your business and manage employees...your chances of getting a job with an enginnering PhD degree are lower than with only having a BS...usually engineering companies pay you more for what you do within the company for them...not for the degrees you hold...with a BS in engineering there a lot you can do for a company....but we engineers mostly just do the minimun...
Hello Sir... Now I want to join in phD.. But I'm 31 years old...if I join in PhD what is my employment career? ...can I join in phD? or not.... Now if I join in PhD what are benificial.
PhDs gain exceptional skills in their graduate school training. Having a PhD will open doors for you in industry. You will be able to start in a more senior position and you can move up the corporate ladder faster
"Posdoc?"
teaching
www.opm.gov/policy-data-oversight/classification-qualifications/general-schedule-qualification-standards/#url=Group-Standards & this is all depends on your location usajob.gov (federal jobs)
Experience and education requirements for GS-7 and above
In addition to meeting the basic entry qualification requirements, applicants must have specialized experience and/or directly related education in the amounts shown in the table below.
GRADE/
POSITIONS
EDUCATION
SPECIALIZED
EXPERIENCE
GS-7
1 year of graduate-level education or superior academic achievement
1 year equivalent to at least GS-5
GS-9
2 years of progressively higher level graduate education leading to a master's degree or master's or equivalent graduate degree
1 year equivalent to at least GS-7
GS-11
3 years of progressively higher level graduate education leading to a Ph.D. degree or Ph.D. or equivalent doctoral degree
1 year equivalent to at least GS-9
GS-12
and
above
1 year equivalent to at least next lower grade level
Research Positions
GS-11
research positions
Master's or equivalent graduate degree
1 year equivalent to at least GS-9
GS-12
research positions
Ph.D. or equivalent doctoral degree
1 year equivalent to at least GS-11
GS-13 and above
research positions
1 year equivalent to at least next lower grade level
NOTE: Education and experience may be combined for all grade levels for which both education and experience are acceptable.
The value of the PhD is what you make of it
Get the f4ck out of here with that nonsense.
@@lukegibson9410 your comment is inappropriate and violates TH-cam guidelines
@@Drganguli Your level of stupidity is what violates TH-cam guidelines. You give a bad name to PhD's.
@@lukegibson9410 What exactly is wrong with the statement that you need to use your PhD just like any other degree. Jack Welsh was CEO with PhD and many others are lifetime postdocs or unemployed
@@Drganguli Because it is a generic statement that applies to anything. "What is the value of a laptop? Oh the value is what you make of it.". Silly and stupid feel-good crap.