Is a PhD in Science worth it?

[RoadRunner79]

Of course, I am talking about people who are just "good students", and not people who are brilliant, such as Stephen Hawking, whose destiny it is to teach at Cambridge.  Having said that, it seems to me that Universities are operating a bit of a pyramid scheme, in that they can attract a lot of very talented individuals to become graduate students, whom they pay low wages to, who then perform the work of the University, such as teaching undergraduates, grading papers, etc.  And, if they are one of the 60 or so percent, they can, after 4 to 8 years, get their PhD in a very nice commencement ceremony.

But, in doing that, they are giving up high paying jobs with great benefits all the while losing out on home equity, compound interest on their retirement, seniority and experience in their careers, etc.  And, then, to top it off, once they have their PhD, they are likely to have accumulated some more debt, but after commencement, many of them are without jobs!  And, worse off, industry, for many jobs, views them as being "over-educated and under-qualified".

And, so, short of being brilliant (which usually means being born brilliant), "Is a PhD in Science really worth it?"

I can't speak to the particulars of your area, but I went through something a little similar a while ago (albeit looking at a lesser degree going for a Bachelors degree from an Associate).  There are more things to consider than just money.  What work you can do afterwords (or are likely to), pay, where you might need to live to do so; as well as cost. 

For me; going back to school, wasn't going to make me anymore money, wasn't going to change what I was doing (although I may learn a few things; but,   I have to constantly learn now anyways).  Really about the only reason to do it, is there are some employers (usually large corporations) who want the piece of paper. I worked with one guy, who was looking for a change; showed his work to a potential employer, and was told - It was far more complicated, than anything he would do for them, but they could not hire him, because of his degree.   And I have worked with a number of people, who really can't do the job, but the had the papers to get them there.

As well we have a very talented Engineer, who originally went to Culinary school.  He enjoyed it, but quickly found out that you have to move to a big city, and even then it may take years and a little bit of luck, to make any money at it. 

So my suggestion is to look at all things, weigh them to what you want, and what you think you can do.  Also look at what the likely outcome is, and see if everything seems probable to your goals.  For me, it's not all about bragging about my degree, or what school I went to.  It's about what I do, and supporting a lifestyle that I enjoy.  If you can't tell, I'm not all about education just for education's sake or prestige (although I would be a prick; and not answer anyone who didn't call me doctor if I had the degree )