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A PhD Might Not Guarantee You Will Get Rich – Guest Post

By onlinephd |

It used to be the case that training as a professional worker such as lawyer or doctor meant that you would be earning an income that was quite a bit higher than the rest of the population. In recent years though, this has not been a trend that has continued. In fact, today there is no guarantee that holding a PhD. or other similar qualification can provide you with this level of income, and there are two main reasons for this.

Money PhD

The first is the amount of debt that students find themselves in when their studies have finished. As well as tuition fees, there are also the living expenses to consider such as rent and food. Credit cards and unsecured loans are popular ways of financing these expenses, but they often come with very high interest rates. Even when they have graduated and are working full time, many students find that the repayments on these debts take up a large proportion of their disposable incomes, leaving them less money to spend on other things.

The second reason that graduates may not be as rich as they would have hoped is that in real terms, many salaries in the health care and legal fields have not increased in a number of years. Since the recession several years ago, although the cost of living has increased, salaries have not risen in line with this. The job market has also became very competitive, with not everyone in the graduating class guaranteed to get a job in their chosen field.

Graduates are now looking for other ways to make a bit of extra money. Gambling at an online casino such as could actually make you rich if you win one of their jackpots. There are a wide range of different games to choose from and new players will also receive a welcome bonus. Playing games online is also a good way to relax after spending all day working in a stressful job.

There may be other avenues that are open to graduates to increase their income based on their fields of expertise. For example, college professors and teachers may offer private tuition services which they can fit around their main job. The disadvantage of this is that it impacts on their spare time and leaves less time for them to spend with their family and friends. There is also the chance that they will burn themselves out and that their performance in their main job will suffer.

Everybody’s financial situations are different, and having a Ph.D may well lead to a very well paid job. However, while this used to be a certainty, that is no longer the case. Although there is no evidence to suggest that this is negatively affecting the amount of students that are part of these graduate programs, it is becoming clear that these students are having to find ways to supplement their income, not only while they are studying, but also when they have completed their studies and are working full time.

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