What are the benefits of pursuing a PhD? It’s a question that many graduates contemplate as they assess their post-university plans.
It’s a chance for graduates who don’t want to enter the “real world” just yet to stay in a familiar university setting.
The truth is, having a PhD gives you a distinct advantage. PhDs are paid more and are in more demand than non-PhDs.
Professionals that know how to create knowledge rather than just repackage it are in high demand. Inventive thinking and entrepreneurship are at an all-time high.
According to the McKinsey Global Institute, the world will lack scientists by 2018. As long as the economy favors innovation, these trends will continue.
If you have a PhD or are on your way to one and are reading this, you have a bright future ahead of you.
Only you can hold yourself back if you choose to be one-dimensional and overlook the less objective soft talents that will complement your PhD and turn you into a magnet for success.
So, is getting a PhD worth it?
We’ve compiled a list of pros and cons of getting a PhD to help you determine whether or not it’s the right move for you.
But first, let’s go over the basics:
What is a PhD Program?
A PhD is a postgraduate academic degree awarded by universities and higher education institutions to a student who has submitted a thesis or dissertation based on extensive and original research in their chosen field.
PhD degrees have different characteristics depending on where you are and your chosen subject.
A PhD typically entails three to four years of full-time study during which the student completes a significant amount of original research that is submitted as a thesis or dissertation.
Some PhD programs accept a portfolio of published articles, while coursework is required in some countries.
Now, let’s move onto the more interesting part:
10 Benefits of Getting a PhD
Why study PhD? Earning your PhD or similar doctoral degree provides you with an opportunity to advance human knowledge. This is an excellent motive to pursue a doctorate.
But, if you aren’t planning to go into academia, will this certification be useful in your career and future job searches? It most certainly will.
Following are the main ten advantages of PhD degree:
- Career Boost
One of the greatest benefits of obtaining an online PhD are improved employment opportunities.
At the same time, you can expect a greater income and a higher status inside the company than candidates with lower levels of education.
Furthermore, due to your experience in the field, you could be able to acquire teaching jobs at a college or university.
- Enhanced Professional Network
While pursuing your Ph.D., you will interact with teachers and peers both inside and beyond the University.
You’ll have collaborated with recognized experts and researchers in the subject, as well as made key contacts at conferences, all of whom can serve as outstanding professional references for your postdoctoral career.
- Prestige and Recognition
A Ph.D. degree is generally regarded as prestigious and well-recognized wherever you go.
Doctorate degrees are tough to get and are acknowledged and valued at all levels of society, so you can be proud of your hard work and accomplishments.
In fact, you can join an upper-middle-class group of well-educated people, which has an impact on both your lifestyle and your income.
The true value of a PhD reflects in gaining extensive knowledge and expertise in your profession.
Your knowledge is not just theoretical, but also useful in solving problems, and you can share it with others.
Your educated judgment will be highly respected among friends, coworkers, and even the media because you are an expert and specialist in your field of study.
- A Higher Pay Grade
The more extensive your knowledge, the better your compensation is likely to be. Having a Ph.D. under your belt suggests you’re well-versed in advanced knowledge.
- Gaining Marketable Skills
Completing a dissertation and receiving a doctorate takes a lot of problem-solving and critical thinking.
That’s good news because complex problem-solving and critical thinking are the top two skills companies need in today’s workplace, according to a study.
Employers are on the outlook for talent that can recognize problems, investigate their sources, and devise practical solutions.
- Contributing to Your Field
You must add to your field of knowledge to acquire a Ph.D. or other doctorate.
Most people just work with what they already know and apply it to new situations throughout their careers.
Doctorates, on the other hand, provide the ability—and discipline—to broaden our understanding of the world. If you can do that for an organization, you’ll be well on your way to the top of the corporate ladder.
- Understanding What it Takes to Achieve Big Goals
Many people think in little steps, doing particular tasks as they are assigned. Doctorates, on the other hand, know how to think big.
The process of conducting research, writing, and defending a dissertation teaches you how to achieve big objectives. As a result, your boss can be certain that you have what it takes to assist the company reach its most essential goals.
- Becoming an Asset
Only 2% of the population in the United States has a doctorate.
This indicates that if you get a Ph.D. or other doctoral degree, you will have more education than 98 percent of the population.
When it comes to job hunting, that’s a terrific position to be in.
- Gaining Transferable Soft Skills
Developing soft skills, such as those required for project management and teamwork, is critical to the success of your research.
Your soft skills can complement your technical capabilities and provide an ideal platform of transferable skills for your future job, whether in research or any other sector, once you complete your Ph.D.
And now, onto the no-so-bright side of the medal:
What Are The Disadvantages of a PhD Degree?
All good things in life come with some sort of risk attached to them. The same goes for continuing your education with a doctorate.
Just to keep this whole thing real, we’re going to introduce you to some of the potential downfalls of pursuing a Ph.D. degree:
- It Requires a Significant Commitment
A PhD takes a significant amount of time to complete, with the majority of UK PhDs lasting four years. If you haven’t already earned a Master’s degree, you’ll almost certainly need to do so before pursuing a Ph.D.
- Falling Behind on The Job Market
While you are working on your thesis, some people your age will have already worked for a few years and gained professional experience. With little on-the-job experience, you’ll enter the job market in your mid/late twenties.
- Academic Positions Are Difficult to Find
Academic jobs, such as university lecturer or researcher, will provide you with plenty of necessary experience. However, because there are just a few academic positions available, you will face stiff competition.
- Getting a Job May be More Difficult
You may find it difficult to obtain work after completing your Ph.D. because employers may believe you are overqualified for the position they are looking to fill and, as a result, are more likely to leave the position fast in search of a better one.
- Ego Management
Even though a PhD is primarily about autonomous research, you will interact with thesis supervisors.
Your thesis will be heavily influenced by how well you get along with your supervisors. When seeking research advice, you may encounter supervisors who want to impose their agenda on your work.
It’s critical that you assess their recommendations against your ideas on the subject and don’t just do something because your boss says so.
- It Takes More Than Planned
A considerable majority of students face difficulties in their study, requiring a fourth writing-up year when funding is no longer available.
Working full-time on a thesis while not earning a living might place a lot of stress on a candidate’s family.
It’s up to you to decide whether or not it’s worthy to take a serious step in life such as pursuing a Ph.D. despite these common pitfalls along that journey.
PhD Degree FAQ
To help you make a more informed decision we provided a list of frequently asked questions about the online PhD degree programme:
- What are the benefits of having a PhD?
In any field, a Ph.D. is the highest degree available. It certifies that you not only have knowledge of the topic in which you specialize, but also that you are capable of conducting cutting-edge research and communicating it to the broader community in that field.
- What is the salary after PhD?
As a PhD salary by field can vary significantly, the average base salary for PhD graduates is $100k per year.
- What are the advantages of PhD?
Ways in which getting a Ph.D. can elevate your career opportunities are developing specialist technical skills as well as transferable soft skills. You also get to build professional networks through your research and contribute new knowledge to your chosen field.
- Do PhD students get paid?
Yes, most PhD candidates receive a PhD stipend to help them support themselves during their studies. However, not all PhD studies are automatically funded. As a result, some students may opt to support their PhDs on their own.
- Will a PhD help my career?
You bet! Employers trying to fill higher-level, research-driven positions will value a candidate with a PhD. Furthermore, a PhD qualifies you for more positions and provides you with more professional alternatives than a bachelor’s or master’s degree alone.
- What jobs can a PhD get you?
Jobs positions you can seize with a PhD degree include program officer, associate director, assistant director or assistant professor, research associate, dean of students, curriculum designer, etc.
What’s The Best Way to Earn Your PhD?
It takes time and effort to earn a doctorate. However, it is no longer necessary to uproot your life to obtain one. You can now complete a Ph.D. from the comfort of your own home, thanks to online education.
In brief, online learning simplifies the process of acquiring a Ph.D., allowing you to work full-time and take care of other duties while pursuing your degree. If you wish to boost your career, an online Ph.D. degree programme is an excellent option.
And when it comes to e-learning, you want to choose an institution that is 100% reliable:
The University of Zambia is a well-renowned institution that offers a variety of certified online programs. Increase your job opportunities by earning your degree in a convenient, flexible manner that matches your schedule.
Our online Ph.D. in Business Management enables you to make a significant contribution to business practice through an extensive and innovative research-driven program.
Learn more about the program by downloading our prospectus.
Don’t hesitate to contact us with any additional questions as we’ll be more than happy to help you.