Choose Your Own Ed-venture

There are many noble academic reasons for undertaking a doctorate, but does having a PhD provide any career advantages a master's degree doesn't?

- Kate Guest

Doctorates have traditionally been a pathway to academia, but with the number of PhD courses on offer rapidly outpacing the number of university jobs, a doctorate is no longer the golden key to an academic career, and PhD holders increasingly need to look elsewhere-even if temporarily.

"If you're not sure that you want an academic career, doing a master's and then moving into industry rather than jumping straight into a PhD is a sensible course of action for people from any discipline," says Dr Naomi Tyrrell, research consultant and ICF career coach for researchers.

"If your first degree or master's degree is in a STEM discipline, you are likely to be marketable as you are, with no need for a PhD. Then, if you decide you want to do a PhD or have assessed that it is significant for your career development, you can apply for one. You may even secure some funding from your employer."

A 2023 London School of Economics study analysed a decade's worth of UK Labour Force Surveys and found that PhD holders earn more, on average, than their master's counterparts. Despite candidates with a master's being likely to enter the workforce at least four years earlier, PhD holders earn an average of £1.60 (RM9.50) to £3.10 (RM18.50) per hour more.

"However, the pivotal factor contributing to this pay advantage lies in the PhD holder's ability to secure managerial positions," say researchers Giulio Marini and Golo Henseke. "Without assuming leadership roles, the PhD pay advantage is negligible."