Definitely finish. I stopped at an MA because there was little or no work for PhD mathematicians back in the day. Now, 40 years later, slow PhD's - yes, there are lots of them - command way more respect than I do.
I once was told you should only get a PhD if your work aspirations require it. That person had a PhD, so they had some perspective. Simplistic, but relevant.
I was given the same advice by my MS advisor. I waited about 9 years to go back for a PhD, until it made sense for my career goals. I'm glad I went back (in a different, more in-demand field) but also glad I waited because I was more focused than if I had gone straight after a MS. Also, I had the benefit of hearing about good and bad experiences from friends who had continued to PhD immediately after MS. Bottom line, talk to as many recent PhD graduates as you can find and listen to their experiences and what they would change if they could do it again (or if they wish they never started).
Is there a PhD program that will finance schooling for you?
Usually PhD programs are fully paid including stipend. In return the students are on either fellowships, research assistantships, or teaching assistantships.
You sound like someone who may well enjoy and benefit from a PhD program. But in case it's not obvious you should know that PhD students spend most of their time doing research and the pace of work, and the major challenges, are very different than taking classes.
If you get a chance to do a research project with a professor in your department it can be a great way to figure out if you really enjoy doing research. Research experience is also very important, if not essential, for getting into top PhD programs.
Who's going to pay for the PhD? You? Then no, you shouldn't do a PhD.
The university or some company? Plus a stipend to live on? Then sure, why not. Do it.
Unless you're already independently wealthy. Then do what you want.
In the field I plan to work in, I will be making more than $100k/year, so ideally I would work while doing the PhD and tie the two together somehow. However, if that's not possible, I could see myself being a full time PhD student but doing consulting type work on the side since my hourly rate would be $50/hr or more. Even during my MS degree, it was common for me to do gig data work where I would get paid $2000 for 15hrs of work, stuff like that.
For me, I feel like I want the PhD mainly because I just want to learn and do more. It's not really about the title so much, though almost all of my closest friends have PhDs in hard STEM, stuff like engineering, chemistry, etc. One has told me for years I should do it, but I had other things going on. I feel like I want to work a few years to make money and gain experience so that I have a better understanding of how my PhD work will tie in with the real world, and I figure I'll be better suited to come up with research ideas if I work first too.
For what it’s worth, most stem PhDs in the US are fully funded with a stipend. You might need to TA a bit to help cover those costs, but there was not a single person at Caltech paying their own way through the degree.
If a PhD program requires you to pay tuition, or doesn’t give you a stipend, I would avoid it. It means the university/PI isn’t bringing in funding, which means the research is not good. Contrary to popular belief, a PhD does not improve your job prospects - it focuses them. Be careful where you focus…
"STEM" is kind of broad. You and I are basically saying the same thing, which is that if they're not paying, don't do it. But I wonder what percent of statistics PhDs are fully funded. I had NSF so I am familiar with the concept of free graduate degrees.
Close to 100%. Statistics is possibly the hottest field out there right now (or at worst just behind computer science) and both government and industry grants are plentiful.
Who's going to pay for the PhD? You? Then no, you shouldn't do a PhD.
The university or some company? Plus a stipend to live on? Then sure, why not. Do it.
Unless you're already independently wealthy. Then do what you want.
In the field I plan to work in, I will be making more than $100k/year, so ideally I would work while doing the PhD and tie the two together somehow. However, if that's not possible, I could see myself being a full time PhD student but doing consulting type work on the side since my hourly rate would be $50/hr or more. Even during my MS degree, it was common for me to do gig data work where I would get paid $2000 for 15hrs of work, stuff like that.
For me, I feel like I want the PhD mainly because I just want to learn and do more. It's not really about the title so much, though almost all of my closest friends have PhDs in hard STEM, stuff like engineering, chemistry, etc. One has told me for years I should do it, but I had other things going on. I feel like I want to work a few years to make money and gain experience so that I have a better understanding of how my PhD work will tie in with the real world, and I figure I'll be better suited to come up with research ideas if I work first too.
I appreciate the responses.
I can't imagine working a job while trying to do a PhD in statistics. Have others done this?
Who's going to pay for the PhD? You? Then no, you shouldn't do a PhD.
The university or some company? Plus a stipend to live on? Then sure, why not. Do it.
Unless you're already independently wealthy. Then do what you want.
In the field I plan to work in, I will be making more than $100k/year, so ideally I would work while doing the PhD and tie the two together somehow. However, if that's not possible, I could see myself being a full time PhD student but doing consulting type work on the side since my hourly rate would be $50/hr or more. Even during my MS degree, it was common for me to do gig data work where I would get paid $2000 for 15hrs of work, stuff like that.
For me, I feel like I want the PhD mainly because I just want to learn and do more. It's not really about the title so much, though almost all of my closest friends have PhDs in hard STEM, stuff like engineering, chemistry, etc. One has told me for years I should do it, but I had other things going on. I feel like I want to work a few years to make money and gain experience so that I have a better understanding of how my PhD work will tie in with the real world, and I figure I'll be better suited to come up with research ideas if I work first too.
I appreciate the responses.
Did you publish during your MS?
If so, and you enjoyed it, I would recommend a PhD. It shows you have talent, potential, and the desire for the work.
If you have not published I would be much more hesitant.
In the field I plan to work in, I will be making more than $100k/year, so ideally I would work while doing the PhD and tie the two together somehow. However, if that's not possible, I could see myself being a full time PhD student but doing consulting type work on the side since my hourly rate would be $50/hr or more. Even during my MS degree, it was common for me to do gig data work where I would get paid $2000 for 15hrs of work, stuff like that.
For me, I feel like I want the PhD mainly because I just want to learn and do more. It's not really about the title so much, though almost all of my closest friends have PhDs in hard STEM, stuff like engineering, chemistry, etc. One has told me for years I should do it, but I had other things going on. I feel like I want to work a few years to make money and gain experience so that I have a better understanding of how my PhD work will tie in with the real world, and I figure I'll be better suited to come up with research ideas if I work first too.
I appreciate the responses.
I can't imagine working a job while trying to do a PhD in statistics. Have others done this?
It may be unpopular to some but I would never recommend doing a sciences PhD part time.
There is no value of doing a PhD halfway. Just finishing the degree means very little. You need to make the most of it- publishing quality work and establishing yourself as an expert in the field. That isn't something you can do working part time.
If you are gonna do it, do it all the way. That is just the nature of a PhD.
For most people, being in a PhD program in the sciences is not a 40-hour a week, M-F job. There's a lot of open-ended work to do that can be very consuming (teaching labs, doing research work, taking your classes, qualifying exams, advancement to candidacy exams, dissertation research), and you won't want to compromise that by doing part-time work. The only time when this makes sense if if you have advanced to candidacy and are doing dissertation research and feel confident about finishing. Even then, lots of people get into an "ABD" (All But Dissertation) situation.
I'm finishing an MS in Statistics. I learned a ton but honestly feel like there's a lot more to learn and get better at, and I feel a little bit sad about not being in school anymore. Talking to others at graduation and people in all sorts of other programs, everyone seems to be so relieved once they finish and like they don't ever want to go back to school again. I don't feel that way at all. Is this a good sign I should continue on to a PhD? Anyone else feel like this after their masters?
I would only recommend a PhD if you (1) have a very specific research area you want to focus on and make that your career and/or (2) if your career goal is to be a tenured professor somewhere. I worked hard for my MS, thought about going on for a PhD, and they told me I'd have to take the GRE again because it had been too long since I originally took it. That was a deal breaker for me so I moved on into "the real world".
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