people who have multiple degrees

[Duneranger]

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.

Traditional PhDs, as in the VAST majority of PhDs (not talking about Liberty online shenanigans or an EdD from Nowhere State University or for profit money grabs) are full time gigs with maaaybe TA work on the side. The amount of online options are extremely minimal due to the nature of the degree. Now I am NOT talking about DNP, DBA, EdD or other professional doctorates. I am talking about PhDs.

Not generally something you can do with a full time job. In the UK there were more part-time PhD options but then again these were expensive and 5-7 year commitments.

I think there is a large disconnect on this board for what a PhD is and isn't. This isn't the same thing as going to a part time evening or online masters program nor is it the same thing as someone rushing through a UMPI degree in 8 weeks. For sure you should work and do these types of degrees on the side. A PhD is a different animal.

Again, in most circumstances, it's a losing situation when pursuing a PhD. People have this mindset that a PhD is like a slightly harder online BA/MA degree, which isn't the case. I doubt an employer is going to fund a 100K+ PhD for starters....\

A PhD is going to help minimally in most careers, Missing out on years of income isn't worth it nor is some employer going to let you go on a multi year sabbatical to finish one (unless you are military).