people who have multiple degrees

[NotJoeBiden]

Many large companies treat a Masters as 2 years experience and a Doctorate as 4. So having more experience means more money. Simple math.

Also losing 2 years of income and potentially student loans. PhDs aren't that common in the corporate world for a reason.

Most people here are doing additional degrees concurrent to work, so the economics for that are different that people pursuing education full time.

If your employer covers the cost, then loans are no issue. It makes sense to take advantage of that benefit if it exists since education -> experience -> $$$.

If an employer gives a 3% raise for each year experience, then spending money out of pocket now is an investment in the future as well.