Ask HN: PhD or continue my consulting work

Hi, I'm a software engineer with three years of experience, including two years in a university's software engineering department (though I'm not sure if that counts as real experience) and one year at a large consulting company, working fully remotely. I don't like the job; it's too stressful and I'm not learning much. Recently, a professor contacted me, suggesting I pursue a PhD in computer science. However, the salary would be half of what I'm currently earning. The upside is there would be less stress, and I'd have time to study topics I'm interested in. For example, I want to learn a new programming language (Rust) but currently don't have the time, or improve my skills with LeetCode exercises, which could help me land a better job, perhaps at a FAANG company. Is pursuing a PhD better than gaining more professional experience for landing a job at a major company? Does it make sense to make this career change from a practical standpoint? At the moment, I'm not interested in the academic world, but that could change if I enjoy following this path.