Is a PhD the best next step?
Only seriously consider doing a PhD if you want to do excellent research in the next five years, and if the degree will likely be useful for you afterward. Strictly, the second part is optional. For instance, your goal might be to do expert research in underwater basket weaving and then spend the rest of your life as a professional cat masseuse, or maybe you’ve already had a long career and might retire after the PhD. There’s nothing wrong with that, and I know people who have made similar jumps, but you’ll likely be more motivated when the PhD is a stepping stone to other things you want.
It’s stupidly easy to want things, of course. I want to run fast, save the world, and make my dog famous on social media. The real question is whether you want something else more, and here it can help to reflect on what you will give up and what you will gain through the PhD.
What you could gain:
You’ll become the world’s expert in some research area.
You’ll contribute to basic and/or applied knowledge through your research and publications. This can be an important source of meaning not present in other jobs.
You’ll likely get to travel to conferences and work in an exciting, international environment.
You’ll have a fairly flexible schedule and the option for a comfortable lifestyle.
You’ll become incredibly good at teaching yourself new things quickly.
You’ll hone your writing, project management, presentation, and diverse technical skills.
You’ll learn how to ask questions and develop a sensitive b.s. detector.
Your degree can give you access to better jobs in many fields.
What you could lose:
People outside your field might not understand or respect what you do. In some cases, a PhD might not help you get the job you want at all.
You’ll probably struggle more in this position than in other jobs with gentler learning curves and more formal training. The frustration can be demoralizing to many.
A corollary of academics not always being good managers is that there can be a higher risk of finding yourself in an unhealthy work environment. (I can help you minimize this risk.)
There is almost always a financial opportunity cost, in that you could be making more money elsewhere, or investing in a career that will make more money in the long run. That said, I have found applicants often seriously underestimate post-PhD salaries, including in academia, while simultaneously being overly optimistic about livable stipends in graduate school. (I’ll say more about this when discussing how to screen programs.)
The modest stipends can make it difficult to support dependents in graduate school or to handle emergency expenses.
You might get bored with your research, decide you don’t want to finish, and have little to show for your effort.
These are weighty matters, and you probably shouldn’t be certain about doing a PhD until you’ve found a specific program and eventually research group that appears to be a good fit. But if this list makes you feel queasy about applying, it’s good to pay attention to those feelings. Remember that a PhD isn’t the only way to do research: Another option is to apply for a “research tech” or “research analyst” position in an academic group, ideally one that you would seriously consider for your PhD. Although you’ll likely not be granted the same independence or receive the same mentoring as a PhD student, it can help you understand better what research is like. You’ll have an easier time identifying the research questions, methods, and specific groups you want to pursue. A challenge is that many groups do not have these kinds of positions available.