Master's or PhD? (Passionate about my field and want to learn more, but don't necessarily want to be a professor.)

[essequamvideri]

I am trying to decide which (Computer Science) graduate programs to apply to, and am actually having a lot of trouble choosing between the MS and PhD options. (Takeru, this is basically the same message I sent you, but I'm asking the question generally to hear some other perspectives too.)

 

FYI, I am a Canadian, applying to Canadian and American schools (several American ones, and it's about them that my question is largely about). I have good qualifications and I might have a shot at good PhD programs, but I haven't decided yet if I like research enough to make the 5-6 year commitment for a PhD. Essentially the only reason to get a PhD, from a career perspective, is to attempt to be a professor, and while I have considered this, it is not something I am 100% committed to (since I have seen the pluses and minuses of working in academia first hand). I am, however, willing to learn more and am passionate about my field, and thus I see doing a Master's as a way to decide for sure if a life in academia is for me, and if it's not, I'll have a graceful way of exiting, I'll have learned a lot, and will probably end up making more money over time.

 

The reason I want to apply to graduate programs in the US is, frankly, some of the best schools are doing more interesting research. That isn't to say there aren't projects that excite me in Canada, but there seems to be more opportunity to do high impact research in the US. Unfortunately, this desire doesn't seem to harmonize with my lack of 100% commitment to a PhD and the American way of doing things (i.e., viewing most Master's programs as a terminal degree and not funding them). For those that don't know, in Canada, it is quite common to get funding as a Master's student, and it is seen as a step to a PhD moreso than a terminal degree. Having my degree at least partially funded is very important to me. Having to pay $40k a year for a Master's out of pocket, even if it was at something like MIT, is really hard for me to justify (especially given that I have options in Canada and am not from a wealthy background).

 

Given these things, do you really think applying to PhD programs in the US is a good idea? Should I instead stay within Canada, or apply to Master's programs in the States and cross my fingers for funding? (There have been some reports, at least in CS, of Master's students getting funding at some schools.) Applying to PhD programs despite wanting a Master's is possibly an option too... since I might change my mind, or I might be able to leave early with an MS, but I'm not sure.

 

Thanks a lot!