Earning a PhD (Doctor of Philosophy) is no small task. First, you must earn your bachelor’s degree and your master’s degree before you will even be considered for a PhD program. Once accepted, you will need a great deal of time and dedication in order to complete the program and earn your PhD. The time and effort you put into your PhD will, however, be well-worth it once you are done.

For starters, a PhD will help you significantly increase your income. Many companies and government employers compute their wages based on your level of education. By taking your education to the next level and earning your PhD, you will likely receive an increase to your wages. In addition, many employers will count the years you spent earning your PhD towards “years of experience” when computing your salary. Add all of these factors together and it is easy to see why PhD holders earn an average of $37,265 more than a person with just a bachelor’s degree.

You will also substantially increase your marketability. Employers will be far more likely to hire you over someone that does not possess a PhD. In addition, your services may be sought by several companies that need someone to provide their employees and managers with training. You will also have the ability to teach college courses if you like. In some cases, a master’s degree will also make it possible for you to teach college courses. But, the courses you are permitted to teach will be limited and, in some fields and colleges, you won’t be able to get your foot in the door without possessing a PhD.

Of course, holding PhD also brings with it a certain amount of prestige as you get to add “Doctor” in front of your name. Simply being addressed in that manner earns you a certain amount of respect. And, why shouldn’t it? By earning a PhD, you truly become an expert in the field and deserve the respect bestowed upon you.

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