Thanks very much for both of your insight. I appreciate that this is a major choice that I have to make and thus I need to review both options thoroughly. My gut feeling is that if I turn it down I may live to regret passing-up such a brilliant opportunity, and I will only strengthen my employability with a PhD. Of course, I could be promoted in my job, but I'm aware that this could be 2 or 3 years away and with a ceiling salary matching that of initial post-doc employment. Also, if I turn the PhD down it may have major ramifications on my reputation within the University, and thus may hinder my chances of securing another PhD.

Writing this is demonstrating that I keep focusing on the negatives of not taking the PhD, which is telling me something about what I really want to do. I think I do know what I want but I'm naturally getting cold feet as it's such a big change.

Thanks again for the advice, and good luck to you both in your future studies!

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Hi, I was recently offered a chance to take a PhD by one of my MSc tutors. To cut a long story short our funding application was accepted and I'm due to start my Health Economics PhD in April. However, my current employer is now tempting me with possible promotions etc in the near future. The PhD will be a pay-cut, but it will allow me to specialise and hopefully earn more money in the future. I enjoy my current job, but I want to be able to provide for my family in the long-run, so I want to make the right decision about moving on or moving up. Any suggestions or advice? Please see below for a more detailed explanation of my situation-

I'm 24, I graduated with a 2.1 in Psychology, I then trained as a Pharmacy Technician to get NHS/healthcare experience. After qualifying I took a job as a Band 5 (£22000) Research Officer for an NHS/government organisation that provides free support to commercial/academic healthcare research projects. Within this role I was funded to undertake an MSc in Public Health/Health Promotion. During this course I took 2 Health Economics modules and also worked for my tutor as a Research Officer. My grades were very good and thus my tutor decided to approach me regarding the PhD. I am currently half way through my MSc (part-time), which is now on hiatus while I make a decision on the PhD.

Pros to staying where I currently work-
Complete MSc
Possible promotion
Incremental pay increase
More money
More stability
Possible PhD in the future

Cons to staying where I currently work-
Boredom
False promises of promotion
Frustration at working on other researchers work
Less room for development in the future
No speciality

I have a passion for Health Economics and can see my self in this field in the long-run, I also would like to specialise my skills as I am currently fairly generic in my skill set. I do enjoy my current job but I would like to have more control and more prospects. on the other hand, I'm married and have a mortgage and thus I need to be able to provide for my family. The £14000 PhD bursary will be a pay cut, but not enough to have a drastic impact on our lifestyle. I want to take the PhD if it offers me a better future, with more prospects and of course a higher salary. I also want to do it to specialise my skills and capitalise on a field that I enjoy and excel at. My question is how do you make a decision on which path to take, and how do you know what the right decision is? I know everyone must eventually reach such a decision on their own, but any advice would be greatly appreciated.

Sorry for rambling!