Really? The article makes it sound to me like a PhD isn't a good idea either from a monetary standpoint or from the standpoint of being satisfied.
"One thing many PhD students have in common is dissatisfaction. Some describe their work as “slave labour”. Seven-day weeks, ten-hour days, low pay and uncertain prospects are widespread. You know you are a graduate student, goes one quip, when your office is better decorated than your home and you have a favourite flavour of instant noodle. “It isn’t graduate school itself that is discouraging,” says one student, who confesses to rather enjoying the hunt for free pizza. “What’s discouraging is realising the end point has been yanked out of reach.”"
"Workers with “surplus schooling”—more education than a job requires—are likely to be less satisfied, less productive and more likely to say they are going to leave their jobs."
"One thing many PhD students have in common is dissatisfaction. Some describe their work as “slave labour”. Seven-day weeks, ten-hour days, low pay and uncertain prospects are widespread. You know you are a graduate student, goes one quip, when your office is better decorated than your home and you have a favourite flavour of instant noodle. “It isn’t graduate school itself that is discouraging,” says one student, who confesses to rather enjoying the hunt for free pizza. “What’s discouraging is realising the end point has been yanked out of reach.”"
"Workers with “surplus schooling”—more education than a job requires—are likely to be less satisfied, less productive and more likely to say they are going to leave their jobs."