This is quite accurate:
http://www.phdcomics.com/comics/archive.php?comicid=125
Embarking on a PhD program is a significant intellectual, career, and personal investment. Obviously it takes several years off of what many consider the prime time of their lives. And intertwined with this dilemma is that it is not clear if it will necessarily be "worth it" in the end.
My personal take is that the value of a PhD program is not only in the diploma / title itself, but also in the experience. Attending a top school such as MIT forces one to really excel, and insist on delivering high-quality work. I can't think of a better place to learn how to be humble, and to excel in life.
Many are not able to - or willing to - commit 5-years' worth of their youth on a PhD program. But just like in personal relationships, can you really truly be sure of how things will turn out if you don't even try?
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