Hello, I am considering pursuing higher education in the field of Bioinformatics. The question is not if I should pursue a higher degree, but which degree I should ultimately go for. While a PhD is of course the more lucrative choice, I'm unsure if it the most realistic. I am 27 and living with my girlfriend and would like to settle down in the near future. I have been trying to see what jobs are available for masters vs PhD but that has been very difficult. I live in Maryland thankfully so the job market is right but my main concern is A. time and B. money. I don't think I can afford to stay in school 4-5 years and earn almost nothing to help support my soon to be family.
What options are available with a masters degree, will I hit a ceiling quickly? Are my options THAT limited? will a PhD propel me that far? I would like to stay in research but I do not want to go for a post doc. I am very much open to industry but I just can't see what the differences are between the job degree paths and if my job outlook is very different
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written
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scott.goldweber •
2 answers
Good answers can be found via the search for masters OR phd
http://www.biostars.org/search/?q=masters+OR+phd&t=Question&submit=
The following depends on where you are: side note, in some countries especially in Europe you don't have the choice. Many PhD programmes require a master's to enter, in Norway for example, I think in Germany as well. In GB however you can go directly from BSc to PhD.
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Don't be so certain about PhDs making more cash. I recently read that across the board for science a PhD will only get you 3% more income per year than a Masters degree, but I don't know how each discipline breaks down. There are (in some cases) more financial sacrifices to make by delaying a real income (for me three years for the Masters degree and then an additional six for the PhD).