Is a PhD Worth It?

There are many potential benefits of PhD degrees. Although it may be a challenging journey, a PhD may be worth it for you if it fits your career goals and academic interests. Continue reading for more potential advantages of earning this doctoral degree.

For those who want to take their education to the highest level, there are a few types of doctoral degrees available that can help you meet your goals. One of these options is a Doctor of Philosophy (PhD) degree. A PhD, along with other types of doctoral degrees, is considered a terminal degree, meaning that they are the final step in academic achievement.

There are many potential benefits of PhD degrees. Although it may be a challenging journey, it may be worth it for you if any of the following potential advantages resonate with you and your career aspirations.

In This Article:

• Should I Get a PhD?
• Potential Benefits of a PhD
• PhD Career Outlook

Should I Get a PhD?

Every PhD student has their own individual reasons for pursuing the degree. You may decide that a PhD is worth it if you’re interested in gaining further career qualifications and positioning yourself to potentially pursue leadership positions.

At GCU, we provide extensive doctoral support resources to our doctoral students. Although there are many challenges to earning a PhD, you’ll have advisors, professors and fellow PhD students in your corner throughout the whole journey. But at the end of the day, you’re the only person who can determine if getting a PhD is worth it for you.

Related Article: How Hard Is It To Get a PhD?

Potential Benefits of a PhD

One way to determine if a PhD is worth it is to evaluate the potential benefits of earning a doctoral degree. Although student experiences can vary, earning a doctorate may offer the following opportunities:

Highest Level of Education

A PhD degree is a terminal degree, indicating that you have attained the highest level of education possible in your chosen field. For many individuals, earning a doctorate is a logical next step in their academic endeavors. They have an educational path laid out, and their academic goals end with earning the final degree. Earning a PhD demonstrates commitment to your field and to your professional practice.

Explore Key Leadership Skills

Doctoral programs don’t simply focus on content knowledge, they also provide a new pattern of collaboration with peers, emphasizing critical thinking and communication skills. As learners conduct their own original research, they may utilize leadership skills, empowering learners to examine different leadership styles and work on refining their own practice.

Work Toward Personal Goals

Students may enjoy aspirational value from earning a doctoral degree. Additionally, some may find that the personal growth aspect of a doctoral degree program makes it well worth the effort.

Some teachers who have pursued doctorates have stated they believe that earning this degree has the potential to increase the quality of their teaching, students’ learning outcomes and even school environment.¹ The experience of earning a doctorate is unlike any other and teaches doctoral candidates valuable lessons about how to contribute and lead in their field of study.

Inspiration and motivation may also come from your family. You may feel driven to make your loved ones proud of you and your accomplishments. While these personal reasons might not provide the sole motivation for pursuing a doctorate, they may help make the decision easier.

Creates a Sense of Accomplishment and Credibility

Completing a PhD program can be perceived as a respected accomplishment — and for good reason. Those who earn a PhD have invested considerable time and effort in completing their degree program. Completion is often associated with prestige and credibility, along with a personal sense of accomplishment that comes from reaching the highest level of academic achievement.

Not only can this accomplishment impact you personally, it could also influence your professional life. Many employers value employees who have earned a PhD.²

Teaches Transferable Skills for All Industries

PhD programs teach transferable skills that can be useful in a broad range of industries and professions. Some examples of transferable skills typically taught in these degree programs include:

• Communication skills
• Leadership skills
• Analytical reasoning
• Presentation
• Critical thinking
• Time management
• Data analysis
• Research

In addition, whichever PhD you choose to pursue will teach certain subject-specific proficiencies, depending on your focus. For example, a PhD in General Psychology: Integrating Technology, Learning and Psychology will teach how to incorporate technology into different settings, including the academic world as well as other organizations and communities.

Enhances Career Qualifications

PhD graduates may find that having this degree opens opportunities in fields or positions where having an advanced degree is recommended or required. Some employers prefer to hire PhD graduates for high-level positions, particularly those that involve research.²

It’s a common misconception that a PhD only prepares professionals to enter the world of academia. A PhD can prepare you to enter a profession in any field, depending on the focus of your degree. Although you can still choose to pursue a career as a professor or researcher at a university,³ you may choose to position yourself for a potential higher-level position in your current profession.

For example, with a PhD in humanities, you could position yourself to pursue careers in a variety of professions, such as publishing or grant writing, counseling or civil service. A PhD in data analytics can help prepare you to pursue a variety of business analytics positions or even consulting.⁴ This is not to say that a PhD is required for these professions, only that acquiring one may increase your credibility when you submit your application. 

These are just a few examples of jobs outside academia that you might pursue with a PhD, so take time to research what careers might interest you if you’re looking for a career change with your new degree.

Chances to Build Important Relationships and Connections

Throughout the process of earning your PhD, you will be collaborating with professors on research efforts and writing your dissertation. Getting to know professors in your current or desired field can be a great opportunity, whether you are looking for a job or not. Networking with professionals is often how people find job opportunities that they wouldn’t have found just looking online, and you may enjoy mentorship opportunities.

You will also have opportunities to build connections with other graduate students in your classes. They may provide a diverse range of perspectives to consider, along with being a source of mutual support. These connections can become part of your professional network and may lead to lifelong relationships.

PhD Career Outlook

There are dynamic hiring trends for PhD graduates. For many years, the largest employers of PhD graduates were educational institutions. Recently, however, private sector employment of PhD holders was almost equivalent to that of educational institutions (42% compared to 43%).⁵

Furthermore, according to the U.S. Bureau of Labor Statistics (BLS), individuals with a terminal degree may have stronger salary potential. As of May 2023, those with a doctoral degree reported median weekly earnings of $2,109, compared to $1,493 for those with a bachelor’s degree.⁶

If you’re interested in pursuing a PhD, Grand Canyon University offers a variety of online and evening options for you to choose from. To learn more about your online PhD and other doctoral degree options at GCU, fill out the form on this page and speak with a university counselor.