golfpro: if you're such a cynic and are so bitter about the wages in academia, why don't you leave and stop posting snide comments about other peoples opinions.

contd.
Consider this: surely 40 hours a week of pure misery is a high price to pay for job security? I've experienced a 'sought after' graduate training scheme in finance and it was so soul destroying I had to leave. I used to spend the whole weekend depressed about going back to work on Monday. I'd choose research any day even if it doesn't provide stability because happiness and believing in what you do is priceless. I'm now going to enjoy some biscuits with the amount of cheese I've rolled out in this post...!

Hmmm I see your predicament. What field your potential phd is in? Is it really that 'niche'? If so, maybe you could look at doing another PhD that leaves more doors open. As others have said on this forum, even if you don't want to stay in research after your PhD all of the graduate training schemes will still be open to you. My way of looking at it is this - live for today. If you want to do a PhD then do it! You've got your whole life to earn mega bucks (if you want to) and endure the daily drudge that is office work.

I'm doing a PhD because working in my subject area (biochemistry) is the only thing I could imagine doing. Yeah I could have become an accountant with my BSc and be on my way to earning mega bucks by now, but I couldn't live with myself. My advice is be true to yourself. If you love your subject, do a PhD and screw what happens 3 years down the line. That's another day's worry. I know so many people who chose a financially lucrative career after uni. Okay so they have a nice car etc but they HATE going into work every day and spend most of their income on cheering themselves up. It's just not worth it. On the other hand, if you're not sure about a PhD based purely on whether you'd enjoy it (not money) then definitely DON'T do it!