Pursuing a PhD is one of the most intellectually challenging and yet personally gratifying experiences. You’re learning at the highest academic level, you’re working with some of the finest experts in your field, and you’re contributing everyday to building something meaningful. These experiences can be humbling, enriching and can truly make you aware of the privilege of being a researcher. That said, a PhD is an extremely demanding endeavour in terms of the time commitment and financial costs involved among other things. You have to be truly sure that pursuing a PhD is the right choice for you and your career. But how exactly would you know this? I invite you to consider some of these factors before you make your decision.

Is research meant for you?

Working towards a PhD will include fancy tasks like running experiments in the lab, and mundane tasks like data entry. While the fancy tasks definitely have an appeal, the mundane tasks are necessary for research progress. As a PhD student, you’re essentially an independent researcher, and much of this work is your responsibility. So, it’s important to think about whether you enjoy such work. Talking to people in your field of interest, people who’re currently pursuing PhDs, and your professors can provide some perspective on what to expect. Consider taking up a researcher role for a short time to test the waters before you make the decision. This will help you gain some experience, build skills, and can provide insight into what really interests you.

What is your real motivation?

There are many different motivations for pursuing a PhD. But if you’re choosing to work towards a PhD for the title or the prestige associated with it, you’ll soon be discouraged because these motivations are not sustainable and cannot justify the effort that your PhD will demand of you. It’s imperative to ask the hard questions: do I need a PhD to pivot my career in a new direction? Do I see myself in an academic career? Do I require this level of expertise for a career in industry? Going through this process will help you find the genuine and sustainable motivations to pursue a PhD.

Is it worth the time commitment?

LSE PhDs can take between three to four years on a full-time track and longer on a part-time track. Through these years, a significant amount of your time will be invested in your professional development. And as a PhD student, you’re already at the entry-level of an academic career. However, career advancement in academia is relatively slower to industry standards and as a result, you’ll sometimes see your peers in the industry achieve their professional goals a lot more quickly than yourself. While considering a PhD, it’s important to remember that your career progression will differ vastly from the industry and to have realistic expectations about your career advancement.

Is it worth it from a financial standpoint?

The costs associated with PhDs can be broadly categorised into three parts: tuition fees, living costs, and opportunity costs. If you’re self-funding, the financial investment will involve tuition fees and livings costs. If you land a scholarship, your tuition fees and to a certain extent your living costs will be covered. And that is because the stipend is usually modest and you’ll find that you may have to work part-time alongside your PhD to cover living expenses in London. Lastly, the income that could’ve been made on a job instead of working on the PhD constitutes opportunity cost. It’s also worthwhile to think about what you want to do after your PhD as it helps you consider all your options for specialised training required by your career of choice while also being mindful of future job prospects.

Earning a PhD is a worthwhile investment of your time and effort provided you’re guided by the right motivations and have realistic expectations of the journey you’re about to embark on. Being sure of these things can really help you make the best of your PhD experience.