Is doing a PhD the right idea?

Question

Is doing a PhD the right idea?!?
I am starting my PhD in physiology (molecular biology) at a highly ranked university. Students in my lab start telling me that doing a PhD is not a good idea because you don't get a job with high degrees other than being a professor at a university. And they are actually ending their PhDs...

Is it true that pharmaceutical companies don't hire PhD holders? That they go for Technicians and PostDocs and award winning researchers/students?? Will I be over-qualified once I start looking for most available jobs?
What salary can I expect with being a PhD (starting salary and highest one?) in Canada or the USA. How about in Poland?
I'm 27 and my PhD is supposed to last 6 years. I'm just wondering if someone can give me advice on continuing my studies. Is it worth it if I want to work as a researcher and have a decent salary compared to bachelors or technicians??
Thanks!

Answer 1

"Should I get a PhD?" should not be the first question for you ask when deciding whether it's relevant to your career.

You should first decide your career goal and then research the job market and career paths in the area in which you want to work. Look at sample job postings for companies who hire those who do the kind of work that interests you. I recommend contacting professional organizations and professionals in the field for "informational interviews". Also, talk with your professors. Maybe you can help them arrange an "informational career day" for your specific field.

You will learn about entry jobs and long term career paths, and then you can determine whether a Ph.D is needed or not. Six years of study is a long time to invest in a Ph.D. to work in a field in which you determine it's not needed.

You should do your own research and not invest tons of time, effort, and money based on the hearsay of your friends about career requirements.

On the other hand, there is an advantage to pursuing a PhD early in your life. If you decide to pursue it later in your life, it may be more difficult because then you might have a job and a family, and tuition may be higher than it is today.

With a Ph.D, you are also more flexible within your field to grab emerging opportunities that do require it, or to transition into other careers if you decide to change careers later in life.

When you submit a resume, all that you have to document are the experiences and credentials that are relevant to that job. If you have a Ph.D and all they require is a Master's degree, then just put that down.

I'm sure that your university has a career center. You might contact them to guide you through a career exploration process.

I hope this helps!

Answer 2

Your fellow students are mostly right. You may get very lucky: do a great research for 6 years as a PhD student, then do a great research for 2-3 years as a post-doc, then get hired by a pharma/biotech company with $60-80K/year salary. Or may not get so lucky and wonder what to do on 6th year of your post-doc.

A more practical approach may be to go for a masters degree in an applied area like toxicology, clinical pharmacology, pharmaceutics, anything that deals more with drug development rather than with early drug discovery.

Good luck