I am currently in my third year on an MChem course, half way through a year in industry. Work is enjoyable and I am now unsure whether to PhD or find a job when i finish at uni...Anyone been in this situation before or have any pearls of wisdom?

It depends what you want. Getting a phd before a job means you will earn a lot more money than the graduates and have more responsibility and respect. You can expect to earn about 10K a year more as a phd than a graduate when starting out and that gap will increase. But doing a phd is very different to an undergrad degree and is a hard slog for 3 years.

Cheers student, that seems to be the consensus of opinion amongst most of my student friends as well. Anyone in academia/industry have an opinion?

if you are up for the hard work and stress, do the phd. it can actually be lots more fun than working if you are part of a friendly lab.