ROIs on PhDs. How much are trailing letters worth to you?

Have you wondered whether earning a PhD would improve your lot? Mid-to Advanced career professionals often ask me if i think a PhD would be worth it for them. When they say “worth it,” they typically have two specific questions in mind:

  • Will having a PhD confer me more credibility and ability to move up in the workplace?
  • Will having trailing letters will result in a bigger salary?

The literal, simplistic answer is, “Yes, more credibility and 17K/year according to Sauro’s analysis of the recent UPA Salary Survey.” But, the real answer is probably no. Earning a PhD requires two things:

  1. The keen desire to spend roughly a decade thinking about ONE well-defined problem
  2. An enthusiasm to spend roughly a decade poor

ROIs on PhDs. How much are trailing letters worth to you?