Will finish my Masters in Biochemistry next year. YEAH!!! But kind of confused ----job hunt garne ki Phd join garne???
I have 2 yrs of lab experience (university research lab). Professors haru ko kura sunda ta
Phd program  join gara bhancha.....but I certainly want to have some experience in industrial setting. Long run ma Nepal nai pharkine bichar cha tara Of Course!! Phd sakera matra... But for now: is it worth to join Phd program directly????   

Maile BS ni US ma nai gareko if that makes any difference.

Need suggestions from all you guys!!!!

http://www.nature.com/news/specials/phdfuture/index.html?WT.ec_id=NEWS-20110426

In these kinds of Biological Fields (Biochemistry, Biotechnology, Biology etc), a PhD is a must if you want to make an average salary. I am saying Average because even after doing PhD in these fields the salary will not be HIGH. You'll most likely end up working in a lab doing some research or work as a Post Doc (after Phd) and that will pay you around $45k-$55k. And the time we are talking is:

Since you've Masters.
PhD= +3 to 4 yrs
Post Doc= +1 to unknown......yrs

So, after At least after 5-6 years you'll make 45k-55k.....Are you ready for this ? This is a bitter reality in fact.

If you choose a different path after PhD, let's say you become an Assistant Professor, that' will pay you about 55k-65k. Again that's not much.
====================================================================================
Now,
If you can land up in Lab with your Master degree which pays 45k-50k, I would say go for it.
Because if you get a Job with MS degree and say you're offered 50k...The time line to complete PhD beyond Master's is at least 3 years.

By that time you'll have made 50K*3=150k

Suppose, you get decide to go for PhD (you'll loose 150k) and you're offered a job that pays 60k (after PhD).
ie. Difference in salary with PhD Compared to MS = 60k-50k==10k and it will take you 15 years (15*10k) to compensate for that 150k You lost just because you went for PhD.
===================================================================================================
Another Suggestion,
How about Considering doing Master's in another field such as Bioinformatics, Statistics, Engineering etc.

After Masters with such degrees you'll start making 70k-80k, more than what you'll make with PhD in Life Science.

Bottom Line,

You Decide


Guy_tensed

thanks guy_tensed
Yaa..all those figures makes me go crazy sometime....
Like I said, I wanna go back to Nepal finally but with Phd in hand......So, is it a good idea to work and then join Phd program??
Also,Nepal maa biotech ko scope kati ko chaa?? Is it worth to go back!!!

Scope in Nepal ?? Not really.
Scope in India ? Yes Partially.

Unless you plan on teaching at KU or some Private Universities in Nepal. That's the only scope of Biochemistry in Nepal.

I will not suggest to work first then join PhD, It's gonna be just waste of time.
If you really want to get PhD then return home, I'd suggest you to do it right after Masters.

bio-energy, i'd suggest you to do PhD. you'll learn and earn better, plus you'll have a stable career. now, talking about money, if you are a good biochemist, you'll earn really good money with a PhD degree (75+k). i've no idea where tensed got those figures but they are not true for all PhDs. yes some PhDs like plain biologists and plain chemists may get that much, but biochemists, chemical engineers, genetic engineers, molecular biologists, etc are paid better. if you go straight work with your masters, you'll probably earn 45k or so. i'd rather do PhD w/ whatever stipend i'll get (25-35k depending on where you do it) and another thing- i don't want to be treated like a kid by my colleagues who have PhD. this might not be important for you, but it is for me. you might even think that all places aren't like that, but sooner or later, you'll start feeling like you are being treated like a kid, which you are as a matter of fact when you compare the experience a PhD and a MS has.
don't worry about how much you'll make now, spend nice 3-4 years doing PhD and after that you'll have many alternatives than you'll have with just a masters degree. and, not to mention, you'll earn better, have a stable job, reputation, and so forth.

about biotech scope in Nepal, if you are into plant stuff, there's a lot you can do back home. if you are into animal stuff, there's nothing to do.

Think properly before you join PHD,
i was in exactly same situtation few years before, and I joined PHD...Now I regret.
as tensed guy said, if you are sure you will return Nepal immediately after PHD, then go for it..do not waste time..

But if you want to staty here for a while, try to find a job. I do not think there will be any difference in salary with or with out PHD...PHD takes time, effort and your life for atleast 5 years...

Just make right decision...

I agree with drkanchho. I agree that people who go for a postdoc get 35 to 45 k (depends on where you go). Starting salary of Assistant Professors in my univ (which is a state university) is 70 k. If you get a job outside academia it is even more. Let me give you an example of one of my friends. We did masters together. He did his PhD in molecular biology, did a postdoc for a couple of years and then got a job in industry. His starting salary was about 125 k. Two guys who finished PhD from my department got a starting salary of 90k (they did not go for a postdoc and applied right after their PhD). The salary depends on the field you are in, but still the starting salary will be more than 70k. It also depends how you sell yourself. Most of the time we undersell ourselves. I agree with guy_tensed that you may get a job with 50k with a Masters, but you will earn way more than that once you get a PhD. But on the flip side sometimes you might be overqualified for a job if you have PhD. It is your decision. Good Luck!

Sparty

Life Science is not good in terms of MONEY, ....THAT"S ALL.

You waste your 6-8 years (PhD + Post Doc)

Since you gus gave examples of some PhD holders who made more than 70, I'll provide you with some real examples of my friends as well, that would be fair then.

Some of my friends did Bachelors in IT, got a Job as Programmer, started making 65k and it went up every year, now they are making around 100k.

Some of my friends did Masters degree and working as Sr. Programmer, Sr. Analyst and making around 100k-120k.

For a PhD Holder, they lost  {5 years * 90k(Average for IT folks and other Occupations) = $ 450k } [5 yrs is the extra time spent doing PhD].

Yes, I agree you have more options when you've PhD..In terms of Money its not good. I am talking about PhD in Life science, such as Biochemistry, Biotech, plain Bio.......

Chill tensed guy,

He asked for suggestion in Bio field and we gave examples of the same field. We are not talking about IT field.

Let's put it simply in terms of Time and Money, not the prestige(for now).

Guy A, makes 70k after Masters degree.

Guy B has a PhD and makes 90k after PhD.
=======================================

Guy A will make 70k*4 years(Average) = $280k by the time Guy B will finish his PhD.

Guy A has $280k more than Guy B(has PhD).
=====================================
Difference in Salary , GuyB(PhD)- Guy A( Masters) = 90k-70k (Fair enough) = 20k

Guy B will have to race [$280k / $20k] = 14 years to reach where Guy A is.

Again, I am not considering Guy A's Experience and increase in his Salary.

So, 14 years to reach Guy A (Masters) + 4 years (PhD study)==roughly 18 years in total for Guy B to catch Guy A.
Is PhD really worth it in terms of time and money ??

 I would put this way " Do you want to be a dog or own one?" choice is yours :))..from my personal experience though.

Guy tensed,
Ain't the guy with masters be able to do phd while working; and get a raise after phd so he won't lose salary money.

I would also put another way:

Do you want to enjoy your life at young age without any medication or would you depend on Viagra ?

 guys,

 I would like to apologize in advance for deviating but since I feel that this thread has some PhD peeps, please send me an email if you are doing phd in biosystems or mechanical engg. I would really appreciate it.

syd_acid

Okey, when you calculate your salary why you are missing the stipend and tuition waiver that you get as a package while going for PhD. You will get about 25000-30000 in stipend and tuition waiver which makes your direct and indirect income above 45000/yr for 5 years while doing PhD. You cannot ignore this fact while calculating how much money you will make with or without PhD. Now, if you do the math, you make a lot more with PhD degree, and not to mention stability and if you get into academia, a tenured track position, that 70-90 K is a 9 months salary. You can bring your own money for research and get paid by your grant money in summer plus you can take a break. There is nothing like 8-5 in academia, you will have much more flexibility than regular job. Ofcourse you will spend 80 hr/week getting less than minimum wages while doing your PhD but it is worth it if you think you can finish it and if you have a passion for the research that you are developing.  It is a commitment of time and it takes a lot of patience to finish it. 30 percent of PhD students don't finish it even after 7 years.

 If you are thinking about going back with a PhD, don't even think about working. Join a PhD progam. 

I don't think PhD is about money, its about research. If you love your field and want to make an impact, then PhD is the way to go. But make sure you absolutely love your field--more than money and honey! If you want to do PhD for a higher salary, you will lose time and money.

I think if you read some articles from chronicles of higher education, you'll find that Ph.D. in Biological field actually reduces your chances of getting a better paying job than say Master's Degree. So here's the decision you'll have to make.: Enter Ph.D. work like a slave for years and realize that noone wants to hire you in the industrial sector as you're overqualified and the only option left is post doc, another 5-6 years in today's world, OR work in the industry now and make more money. Of course, if you're passionate about research do Ph.D., but dont' think dreaming that you'll make more money after Ph.D. Its a myth. Professors always always always pressurize you to go into academics as they all think through their myopic lense of academic research!

Muri muri dhanyabad sabailai...
Loads of info...dilemma ajai cha but I don't have time cause I have to apply soon If I wanna go for Phd next year.
+2 garera Nepal bata aaeyo... bau-aama ko 50k jati BS/MS  garda gardai kharcha gariyo....aaklo choro wanna go back: family ties: but
at least wanna pay my parents money before going back finally...

Also need suggestions on admission (Phd program)--------------
how difficult is it to get into graduate school? Do I have to worry abt the ranking of the university? I completed both my Bachelor and Masters here(no gap in between). GPA-3.6, Lab experience of 2 yrs(probabaly will have a research journal published....first author hoina)...GRE scheduled for next week

Aani looks like very few go back to Nepal with Life science degree. I reckon, I will complete my Phd at the age of 30(if average time~5 yrs applied). Pls share experiences abt possibilities in Nepal if you guys have 1. YES!! I work with animals :(

 

 Since you are a international but US graduate and have good standing (3.6 is really good..don't listen to 4.0ers geeks), I see fair chance if you can hit some 12 hundred lines in GRE and write personal statement of 4.5. It might take a few shots but that doesn't been you are incompetent. Graduate position is infact a job opening so, timing is very crucial. 

 sparty, you really excited me myaan, i'm a molecular biology major too, last year in school. 90K without post doc and 125k with post doc is really enticing. looks like i'll have a good future, ! 

jaibik shakti, 3.6 is a really good GPA for PhD. Now you need a good GRE score. You don't have to do really really good, just meet the expectations of the grad schools you are applying. They don't really care about your GRE score as long as you have the score they want. And GRE is not that tough to master. You'll nail it with ease if you study well for 3-4 months.
Get your name in a paper or two if you can. Grad schools look for your research experience more than anything else. They want to see that you are passionate about science and research. If you have that and can demonstrate that in your essays and interviews, you'll get in easily. 

I'm not sure which schools are good for biochem, but think wide. When you apply, apply to as many schools as you can (since application is not expensive as for Med schools). Choose 3-5 really good schools. By that, I don't mean choose Harvard, Yale, and Stanford, but it doesn't harm to apply. Who knows, you might get in! And pick 5-6 mediocre schools  that you think you have pretty good chance of getting in, and 4-5 schools that will lick your soles to have you in their program. That way, you can be sure that you'll have at least one school that'll take you in its lap. 

doing research in animal subjects in Nepal is very tough because there's no resource. i've no idea if they even do any research of that kind. but you can count India as your refuge in case you don't have anything to do in Nepal besides teaching those punk college kids. Or, just stay in the states for a few years after you're done with PhD, build network in Nepal (with GO and well as NGOs), get some money and then go back to Nepal and establish your kind of work. 

But, as others have said, if you don't like research so much and want to do PhD just because you think you'll be able to bump your yearly income after that, that's probably not a good way to follow. PhD is more about research than money, but money comes alongwith it once you start being a good research scientist. Don't get entangled on all those figures, how much you're earning now, how much time you'll spend while doing PhD, how much you'll earn after you're a PhD, and so forth. It's all about what you really want to do and what you want to be. Good luck with your career. 

(And to tensed guy and all other guys who are tensed like him, keep on counting the figures people, that's all you can do. If you think life sciences has no money, you better stop complaining and go do something else because it's not science that pays you less, it's you who chose science. And finally, let me tell you a simple fact - for every 1 dollar of grant spent in biomedical research, the society gets 17.xx dollars and that's what all IT, BBA, MBA, CA, Executives, etc are counting.)

- Jantare1/DrKanchho