In Computer Science, at least, outside of teaching, a Ph.D and a masters for that matter is required for only a small percentage of positions, and here's some evidence: http://www.indeed.com/jobtrends?q=%22computer+science%22+and...

Relative graph to assure you that the dip at the end is just due to less data collected recently: http://www.indeed.com/jobtrends?q=%22computer+science%22+and...

I have only would have wanted to apply for one position in my life so far that required a Ph.D, and that company did not end up doing well. I also managed a Ph.D before (from China) and, in my opinion, he was no more productive than others on the team that had neither Masters or Ph.D. That doesn't prove anything, I know. But, although I have a lot of respect for education, I don't think it is worth it typically.