Which graduate degree will provide the highest return on investment?
A PhD in chemistry laid it out this way for me: Bachelor’s – You have shown that you know the basic concepts of the field and can regurgitate existing knowledge. You can be taught. Master’s – You have conducted original research in the field of study and have proven that you can manage a complex project to completion. You can act independently. Doctorate – You are a specialist in one very small aspect of the larger field. You can act independtly but only within the very narrow confines of your specialty. He deemed the Master’s as the optimal degree level for most people in the entry-level or mid-career phase. As a Master’s degree holder, you bring advanced knowledge and the ability to execute projects to the table. The PhD is so specialized that the usefulness of the knowledge is not common. PhDs also demand much higher salaries than Masters, and so price themselves out of most markets.
