Are doctorate degrees worth it?
We've all heard doctors make a lot of money. In a lot of cases, they really don't, especially if you take into consideration the fees they pay like insurances, and student loans. In addition, having a doctorate doesn't save you from being on call or working awful shifts. Are the student loans and other woes worth the stress of earning a doctorate? Is it fulfilling, and can you make a comfortable income to become debt free?
#doctorate #debt #salary #studentloans
I think this is a personal and professional decision. It all depends on your desires. For instance, I love learning, school and the intersection of my profession HR as a practitioner and the theories related to adult learning and HR as a field. So, it was natural for me to be interested in an advanced degree in Human Resources and then a doctorate. I think if someone was interested in a doctorate you have to be in the mindset of a marathon and not a sprint. Pursuing a doctorate is a personal journey with the support of your selected program (and its faculty). I see value in my degree from my everyday job in Human Resources and other avenues I could pursue in the future like teaching or research.
To address your questions that are more financially related this is also very personal. How much debt your willing to take on and related costs are something to really think about. Take into consideration working while in school, scholarships, etc. Specifically regarding working while in school this can be at varying levels- part-time or full time. I worked full time while pursuing my masters and doctorate after working for a few years. This helped reduce some of my debt. I was also able to manage my finances to pay off any debt within a reasonable time. With any choice you make there are benefits and drawbacks. Taking a a look a difference scenarios to consider them would be helpful - while keeping in mind that you won't cover 100% of all scenarios, it will give you move information going into making a decision that not.
For me, my doctorate was 100$ worth it!
I hope this is helpful!
The achievement of any level of education should relate to the individual's career goals and be relevant to the application of that level of education in that career field. Too many people have achieved an advanced degree without proper research regarding its application and found that they could not put it to use, as they had skipped some important steps along the way, which would have made a great deal of difference. During my many years of Human Resource Experience and College Recruiting, I have developed the following steps, which could help to understand the relevance of an appropriate level of degree to their career aspirations.
Ken recommends the following next steps: