> If you manage to get through it, you will be a world expert in a niche that can be valuable. $$$$$$$$
This depends highly upon your field, the current needs of industry, and your own work ethic. For example, if you want to write or architect software for a living, a PhD in computer science really doesn't get you much. Neither is it a good idea to go for a PhD just because you can't think of anything better to do to further your career. But if your goal is to make new discoveries in a field you are passionate about, then that would be a different story.
Also I have met a lot of PhDs who are absolutely not experts on anything at all, except for knowing how to thrive in the socio-political academic system by being "book smart," and writing bullshitty articles/papers.
> You will develop the invaluable skill of not giving up even when all the odds are against you
Are you saying people don't wash out of PhD programs all the time? Even if this was somehow true, you don't need to throw money at a PhD program to learn this!
This depends highly upon your field, the current needs of industry, and your own work ethic. For example, if you want to write or architect software for a living, a PhD in computer science really doesn't get you much. Neither is it a good idea to go for a PhD just because you can't think of anything better to do to further your career. But if your goal is to make new discoveries in a field you are passionate about, then that would be a different story.
Also I have met a lot of PhDs who are absolutely not experts on anything at all, except for knowing how to thrive in the socio-political academic system by being "book smart," and writing bullshitty articles/papers.
> You will develop the invaluable skill of not giving up even when all the odds are against you
Are you saying people don't wash out of PhD programs all the time? Even if this was somehow true, you don't need to throw money at a PhD program to learn this!