PhD vs jobs

[OldGrad2012]

Hi all,

I have a dilemma, I am applying for grad school for Fall 2012. I am schedule to go to two interview OHSU and ASU. I am having second thoughts about grad schools because I have a full time job and do not want to leave it. I know if I leave it, I will be throwing about 1/2 of my paychecks while in grad schools should I get accepted. I do not know if I will be accepted yet, but have interviews for these two schools so far. What should I do, should I go to interviews and wait to I get accepted to make a decision. How do people in Phd programs survived the financial burden?

[ZeChocMoose]

I left a well paying job to enter a PhD program. For your situation, you don't have enough information to make a decision because you haven't been accepted yet and you don't know the funding package that you are being offered. I say go to the interviews, check out the program, and wait to see what they say. You may decide the program isn't a good fit or the funding situation is not doable. You can always stay with your job and apply to programs in the future.

In the Bank section, there is a good discussion on how to live on a graduate assistantship salary. Basically, it comes down to living within your means and making sacrifices on some luxuries. Everyone chooses to do that a little differently so there really isn't a one size fits all answer. (I gave up TV and I eat out less especially lunches. When I worked full time, I always bought lunch.) It also helps if you don't have a lot of debt going into graduate school and have some savings.

[Blurry]

Hi all,

I have a dilemma, I am applying for grad school for Fall 2012. I am schedule to go to two interview OHSU and ASU. I am having second thoughts about grad schools because I have a full time job and do not want to leave it. I know if I leave it, I will be throwing about 1/2 of my paychecks while in grad schools should I get accepted. I do not know if I will be accepted yet, but have interviews for these two schools so far. What should I do, should I go to interviews and wait to I get accepted to make a decision. How do people in Phd programs survived the financial burden?

I sincerely suggest that you do the interviews and at least get a confirmed decision. Many people regret not doing their PhD and I think that it will be much more difficult to try and get back into graduate school later on. I do not think that financial woes should discourage you from attending graduate school; living on a graduate stipend is really not that bad.

[OldGrad2012]

Thanks for replying. I guess you guy are right because going to interviews does not mean you are automatically accepted. And they have not offered me any acceptance offer or funding package for the year. So maybe it will become more clearer once I know for sure. However, these programs were not my main choice, but are safety schools per se. As I am debating every day on this decision because my current job paid very well. But then again, to earn that PhD mean to sacrifice and it does not come without a price, right? I have a question for ZeChocMoose, you left a well-paid job to enter a PhD program, have you ever regret it or are you currently appeased about your decision? I just want to get anyone opinion to maybe make the right choice. Thank you

[RedPanda]

I'm in a similar boat, leaving behind a job with a decent salary and great benefits to go back to grad school. For me, it's worth it. But you have to decide what's best for you in your situation.

I agree with what the others have said - go to the interviews and have all the information in front of you before you decide anything. No conclusions without data, lol! Who knows, if you're moving someplace with a lower cost of living you may not even have to take that much of a hit in your lifestyle. And even if you do, as a biomedical / molecular researcher your starting salary in industry will be SO much higher with a PhD that it is accurate to view the temporary pay cut as an investment in your future.

That said, if you go on your interviews, get accepted, see your offers, and still have doubts...listen to your gut. Grad school is TOUGH, and you have to be fully committed to getting that degree if you want to be successful. You don't need a PhD to have a great life, and there's no shame in putting it off for another year or two or five if that's what's best for you.

But do at least go on your interviews. No harm in gathering all the relevant data, right?

Good luck!

[ZeChocMoose]

Thanks for replying. I guess you guy are right because going to interviews does not mean you are automatically accepted. And they have not offered me any acceptance offer or funding package for the year. So maybe it will become more clearer once I know for sure. However, these programs were not my main choice, but are safety schools per se. As I am debating every day on this decision because my current job paid very well. But then again, to earn that PhD mean to sacrifice and it does not come without a price, right? I have a question for ZeChocMoose, you left a well-paid job to enter a PhD program, have you ever regret it or are you currently appeased about your decision? I just want to get anyone opinion to maybe make the right choice. Thank you

I don't regret it for a lot of reasons. My program is where I need to be to become the best quantitative researcher that I can possibly be and I don't know if that would have been possible staying in my current job. Mainly because the universities around me in my former job were not particularly strong in statistics or methodology. Also, I would have only got to a certain level with a master's degree in my field. I knew I wouldn't be satisfied personally or professionally being stuck in this "middle zone."

That is not to say that every day is roses, sunshine, and daises. There are definite challenges living on less than a 1/3 of what I use to make. My housing accommodations have been the biggest shock to my system as I now live in a pretty small one bedroom apartment (compared to a 3 bedroom house). Granted, I don't share with anyone but it is rough going back to "student" apartments and dealing with less privacy and noise. Honestly though, you adjust, your priorities shift, and as long as your stipend is adequate to live on in the area of your university, you hopefully won't have a lot of financial issues. If the funding that you get from your program is not adequate to live on, then I think that is when your decision process becomes tricky and money might become a real big issue.

Edit: Also not being afraid to say "I can't afford it" with friends and families. I don't know if you are an American or not- but seems like this country has a weird issue with saying this. I have had to learn how to do this, but the response has been fine and I think people generally understand that as a student I have more financial limitations.

Edited January 25, 2012 by ZeChocMoose

[Old Man & the C(S)]

If you are worried about the money, don't be. I commend you for being pragmatic. I've never heard of a grad student starving to death. You can survive with a change in lifestyle. It will suck financially and continue to suck for years, but you get by. From what I've heard and seen, being broke is not the hard part, heck some people wear 'being a broke grad student' like a badge of honor.

Look on the bright side, if you have been debating with yourself every day and really have no clear feelings about the merit of of your pursuit of a PhD these guys will torpedo you on the interview and you will be able to keep your cool job.

Edited January 30, 2012 by Old Man & the C(S)

[OldGrad2012]

Yeah, but I applied for a PhD so that I can be trained to get my independent research. Without the grad training, I am limited at my job and cannot applied for grant to do my independent research. I love to do independent research and I think my training will be inspirational. So I guess getting a PhD mean to sacrifice and change my luxurious lifestyle. Thanks

[ToxicBear]

8 years ago, I decided to get a job instead of continuing onto my PhD. I already had a Masters, and felt pretty ok at the time. But as has been said, it's really hard to get back into the swing of things. I'm financially set, but at a block for career advancement without a PhD (and it's pretty hard applying when you've been out of school for so long). You've got to do what's best for you, but if i could do it over again I'd continue on for my PhD instead of going the job route.

A 2nd option that I haven't seen listed could be that your current employer might consider keeping you on, and that would supplement your graduate studies income. Perhaps not full time, but perhaps part time or as a consultant, depending on your role? If nothing else, it never hurts to ask.

[OldGrad2012]

@ToxicBear

Are you applying for PhD program now and working full time as well? I think it a tough decision and there is no right or wrong going about this. Did you interview yet? Yeah, I know. I am surprised that I got 4 interviews even though I am out of school for so long. Have you made a decision to go PhD route yet?

[ToxicBear]

@Timt99

Yes, I'm applying to several programs now while I work. My employer has told me that they'll let me continue working as long as I can get my work done. It helps that I'm a telecommuter, and can pretty much keep my own hours except for meetings or calls. I have not received any invites to an interview, but I'm not sure if the programs I've applied to have them as a part of their process or not.

[Old Man & the C(S)]

I'm also working part time at my old company. Telecommuting is much more viable now. It doesn't hurt to ask...especially when compared to the $7 supplemental jobs on campus.

[Hillary Emick]

I am leaving a $50K a year job for a PhD program. I have one acceptance with an offer of tuition remission and $15K support. So I am looking at taking a $30,000 per year pay cut. Ouch. My husband and I have saved up for this. We have about a full year of living expenses in the bank. We plan to supplement this with student loans until my husband can find work after we relocate. I am also hopeful at getting a national fellowship. But where there is a will there is a way, and if we have to end up living off of a grad student stipend and student loans, we'll make that work.

Getting a PhD is not about money for me. I plan to pursue an academic career, and it will probably take many years for my post-PhD salary to catch up with where my salary would be if I stayed in the field I am in now and kept working, if it ever does. That's not the point for me. This is about doing what I want to be doing with my life and following my passions, not about making more money.

[cokohlik]

I'm not in a PhD program (yet- hoping for an acceptance ) but I can sympathize with your concern. Were I to enter a PhD program (which I will hands down if I get in), I too would be leaving an extremely well paying job and perfect work environment. So would my husband. He has more to lose ... Seniority, freedom to work on what he wishes usually, working with his family. But for us, it's worth it because a PhD is something that I've wanted for years now and I see it as crucial to my personal and intellectual development, not to mention that my dream job is to be a professor in my field. As Hillary Emick said, "This is about doing what I want to be doing with my life and following my passions..." I'm not worried that I'll mist likely be earning half of what I'm making now. I didn't always have my current job, so the extra money is certainly nice but we are people who have much and want little. We'll be ok. You ultimately have to make the choice that is right for you. As others gave said, you have to be 100% committed to getting a PhD if you choose to enter a program. PhD studies aren't easy and command a large part of your focus. You'll need that dedication, that drive, to keep you going when things get tough. If you aren't totally committed and choose to enter a program, and I don't mean this to sound harsh, but there is someone else who probably could've gotten in who truly was gung ho had you not attended. So that may be something to take into consideration. I wish you a huge congratulations on your interviews! Good luck making this choice

[diermh]

I'm in a similar boat as many of you above. I am working in a great paying job with great benefits in a field that, while interesting, is not what I want to be doing for the rest of my life. I just had my interview yesterday, and if I get in, I will almost certainly take it, but I'm not super happy at the prospect of not having the money that I currently make.

I realize I'm counting my chickens before they hatch, and all I can do is wait and see whether I get in and what (if any) the offer is. Still, it's a tough choice.

[blaspheming]

I have a great career-type job in my field and had similar second thoughts about grad school. That is, until I received my first acceptance. After I got into one of my top schools, it was the easiest decision I've ever made.

Best of luck to the rest of you.

[wildviolet]

I have a great career-type job in my field and had similar second thoughts about grad school. That is, until I received my first acceptance. After I got into one of my top schools, it was the easiest decision I've ever made.

Best of luck to the rest of you.

Same here. Good pay and benefits don't make up for the fact that I can't see myself working in my current position for the next thirty years. The thought of attending graduate school and getting paid to enrich myself and do things that I enjoy is truly exciting.

[blaspheming]

Same here. Good pay and benefits don't make up for the fact that I can't see myself working in my current position for the next thirty years. The thought of attending graduate school and getting paid to enrich myself and do things that I enjoy is truly exciting.

That's absolutely it. Think long and hard about the long term benefits of this decision. Think about where you see yourself in 20 years and whether you'd regret not giving it a shot. You can always get another job, but this is a very rare opportunity that many people dream of, but only a handful have the chance to pursue.

[wildviolet]

That's absolutely it. Think long and hard about the long term benefits of this decision. Think about where you see yourself in 20 years and whether you'd regret not giving it a shot. You can always get another job, but this is a very rare opportunity that many people dream of, but only a handful have the chance to pursue.

Good perspective. We are so fortunate here in the United States to be surrounded by some of the best universities in the world, especially for graduate education. I have to keep reminding myself how lucky I am to be able to pursue an intellectual life.