And I say that as a manager who’s hired a lot of people before they earned X because their work was interesting. I don’t do it anymore, as a rule, because it crushed a lot of those people with regret later and I have to live with that.
I went to a State school and got an economics degree, I started my career as a SQL-lackey for a B.I department in declining midwestern retailer, but I treated my career like graduate school insofar that I worked hard at it.
About 4 years after my first day of professional work, I started as a data scientist at a FANG. My team of 9 had 3 Ph.Ds (all science Ph. Ds). As I understood it, the Ph.Ds do receive higher compensation but it's not that much more (~18% higher base) and if I really kick butt, I can out earn them with bonuses.
But I think my path was much easier and lucrative. I was able to save ~$100k, I had a standard of living above that of a regular graduate student and I had flexibility that they would dream of. I made 4 years worth of contacts of my profession, I
I'm sure some Ph.Ds are worth it as investments, but if you're interested in renumeration, get working.
You don’t get a lot of opportunities to earn a PhD, most people never get the chance. By comparison almost everyone in CS get a lot of truly great job opportunities in their lives.
That’s a PhD, we had a habit of hiring people before their finished they CS degrees because skilled people were so hard to come by back in the day. They have good careers as far as I know, but they would have had much better opportunities if they had finished their degrees, and some of them haven’t taken that well.