Since completing my degree, I have worked in industry for two years. There is a possibility my company may sponsor me to do a PhD next year, but this is not guaranteed. If not, I am thinking about leaving and doing a PhD myself. As I would likely go back into industry after this, I am wondering whether it would be worth it in the long run, or would it be seen as a step back? Has anyone else had to make this decision, and what was the outcome for you?

In a similar situation myself at the moment! I was told that a PhD was good for your career, but it isn't worth 3/4 years of career progression. Saying that, I feel there are other reasons I want to do a PhD that have to be considered, such as just wanting to do it for myself. If you're thinking of funding it yourself, I reckon you're not just thinking about your career, but what you want to achieve acaedmically.

I've gone back to do a PhD but it is more to move me in a new direction than for career progression in an existing field. I think whether it is worth it very much depends on the field you are in and what sort of job you want e.g if you are doing research in industry it would probably help, if you are on the business side it might not be so relevant, in terms of getting you a better job after.

I don't think taking a PhD will look like a step back. It's essentially training to get better qualifications and further your chances of getting a job even better than the one you're on now.Sure, you probably wont be as well paid on a PhD as in your current job, but afterwards you can expect to get a job even better. You have 2 years industrial experience, with that and a PhD, you have 5 years of lab experience and a higher qualification. Win win situation