Taking into account the huge investment of time and energy in achieving a PhD - what would you say is the main motivation for you? Love - of the subject/studying in general, or money - the prospect of getting a higher paying job than might be available with just a first degree.

This is without going into the possible 'love of money' - who knows where that might lead!

Angelette

It's love for me, but I'm very unusual. I'm long-term ill (progressive neurological disease), and can't work any more. So my PhD is of no financial benefit. The first time I signed up for a PhD (over a decade ago, science, full-time) it was because I wanted to be a lecturer. No incentive of money at all. I think anyone thinking of going into higher education who's after lots of money is a fool! The second time (history, part-time) it was sheer love of the topic.

I really think love has to be the stronger reason. A PhD is a terrible slog at times, and can be extremely difficult to stick to the end of. If you're just in it for the money there are easier ways. For example I'm not convinced in the current economic climate that it is the way to higher pay.

For love. If it was money, I should have gone for the City.

A PhD won't necessarily bring that many greater financial benefits than a first degree - and I did read somewhere that it's earning power is about the same as just having a masters degree. Experience really is far more key.

There has to be a certain amount of love to get through to the end anyway, even if you totally end up hating it after you need something to keep you going through the dark times!