If you’re considering whether a PhD degree is the right career choice for you and if the investment of your time and other resources will lead to a fruitful career post completion of your degree, it may help to get a sense of the benefits that come from having a PhD.

To begin with, having a PhD is a major career asset and offers you a significant advantage over the course of your entire career. In this post, I’ll look at just how some of these benefits play out.

Money and finances

A PhD can be a major financial investment when you’re studying; however, after graduation, PhDs tend to have a higher earning potential, especially if you decide to work in the industry. According to Pay Scale, the annual salary ranges for a social science PhD in the UK are between £29,000 and £87,000 depending upon job role and industry. The pay-off may not be immediate though and so, it is important to note that these figures may not hold for every scenario. If your primary motivation is making more money, you must consider your options in the job market before starting a PhD. The idea is not to discourage, but to emphasise that a PhD is a highly demanding degree and if the motivation is solely financial, it may not be sustainable enough to make the journey worth it.

Subject matter expertise

Given the rigorous nature of the PhD, you’ll develop highly specialised knowledge and skills in your research area. And these are bound to make you an expert in those particular topics. Even if your PhD is in a very niche area, remember that the skills you will develop over the course of your degree are transferable. These specialised skill-sets and training will provide you with exciting opportunities to offer consultancy services to organisations, governments, serve on policy-making committees and panels, and shape decision making in the area of your expertise. Your academic department at LSE will have some world-leading experts who will be your PhD supervisors. So, rest assured you’ll be training with the best minds in your chosen field. Find out more the PhD programmes at LSE.

Valuable skill-set

PhD researchers multi-task on an admirable level. You’ll critically analyse texts, write code to work with huge data sets, glean information from multiple sources, and break complex problems down to provide simple solutions; you’ll become an expert communicator, adept innovator, and you’ll master the art of organisation. You’ll also develop multiple skills like collaboration, time-management, and leadership to name a few. These skills are high in-demand, sought out by potential employers, and not just that, they’re key to success in whichever area you choose to pursue your career in. LSE has multiple resources for skill-building: PhD Academy, LSE Life, LSE Careers, Digital Skills Lab are a few you can begin with.

Wider network

As you work on your PhD, you’ll be presented with multiple opportunities to grow your professional network. You’ll collaborate with peers and expert researchers across departments on campus, you’ll meet people and present at conferences, you’ll go to a number of events that are hosted by the PhD Academy, LSE Careers, or your very own department. And each of these experiences will provide you with opportunities for collaborating on projects, working while you’re studying, or going on exchange programmes abroad.

A PhD and the skills and experience it will reward you with are always a major advantage. If you’ve got a passion for research and the drive to commit to finding answers to the problem you’re interested in, these benefits will make your PhD a worthwhile endeavour.

All the best! 🙂