======= Date Modified 29 Oct 2012 10:51:10 =======
======= Date Modified 29 Oct 2012 10:49:37 =======
Hello

I am new to this forum and thinking about doing a PhD, however I was hoping someone could offer me some advice on the advantages and disadvantages of doing a self funded PhD.

I completed a masters degree a couple of years ago obtaining a merit and, during the last couple of years, I have decided I would like to do a PhD. I started applying for funded PhDs and a couple of times I have got to the interview stage, however my interview technique is pretty shocking so I have never got any further than the interview.

I am now beginning to think about funding my own PhD. I have looked at finances etc. and using savings and with a loan/a bit of help from my family I should be able to cover tuition fees and living costs as long as I have a part time job.

What I am trying to figure out now is what are the main advantages/disadvantages of a self funded PhD (other than the cost) in comparison to a funded PhD project? Also, would I be more likely to be accepted on to a PhD if I was self funding? I am still going to keep applying for funded PhDs but this is sort of a last resort option.

Any advice would be appreciated :-)

======= Date Modified 29 Oct 2012 11:15:02 =======
To be honest I can't think of any advantages of self funding a PhD, other than it will enable you to do one if you can't get funded. Whether that is wise is another matter.

Consider that it's not just about the money you will spend *doing* the PhD. There are also the lost earnings for 3-4 years to think about. Also look critically at the job market for people with PhDs in your field. It may be that you will be just as likely to get a job (albeit not necessarily academic) with your masters.

I'm concerned that you say "my interview technique is pretty shocking so I have never got any further than the interview". Isn't this worth addressing? Have you asked for feedback on your interviews so far? How will find a job afterwards if your interview technique is poor? Read around on the forums to see that finding a job with a PhD is certainly not a walk in the park. Also, being rejected after two interviews isn't that much really - perhaps you should keep trying a bit more.

An alternative approach you might like to try is to apply for research technician/assistant jobs first. This would boost your CV and possibly give you a foot in the door for PhD opportunities/funding calls that come up in the future.

Sorry to be negative, but I'm a pragmatist, and I don't think the risks associated with doing a PhD are worth compounding by paying for it as well.

I actually think that's very good advice and would second it.

I have a different perspective on this from previous posters, possibly because my PhD (my second go, after falling ill and having to leave a full-time science one) was in humanities, and there it's virtually impossible to get funding. Unless people self-fund they generally can't do humanities PhDs, and you get a lot of people self-funding. Usually this is done part-time, alongside a nearly full-time job. The extra cost of not working and maintaining yourself as a full-time student isn't usually worth it. But people can get a lot of satisfaction out of doing their PhDs in this way, and some go on to academic positions, either full-time, or part-time, like Open University lecturing/tutoring.

Each person has to weigh up the pros and cons. If it was me in your position I wouldn't consider full-time self-funding. It is just too costly, and your part-time job that you will need to sustain it will make it hard to do the work you need to complete the study full-time. Part-time PhDs are generally more sustainable financially, though you have to commit to them over many years.

And yes you are much more likely to be accepted for a PhD as a self-funding student. You will still have to meet the minimum entrance requirements for PhD students at the university, which is usually a 2.1 or higher, and sometimes also a Masters too. But beyond that you won't be competing for the limited (even in science, if that's your field) funding options.

I self-funded the first year of my part-time history PhD but won funding during that year for the rest of it, from AHRC. So depending on your field that might be another option for you. I was quite prepared to self-fund the duration though. The PhD was well worth it for me, in terms of intellectual satisfaction and opening up opportunities for me as an independent academic historian in future. This is despite me being unable to work due to severely disabling progressive neurological illness. The equation on whether to self-fund a PhD isn't always a financial one.

I concur. The answer I gave was making the assumption that you were proposing to do a PhD for career-enhancing prospects, but there are other benefits to consider too. However, just be mindful that although some people do go on to be lecturers, there are plenty of (funded or self funded) PhD graduates who cannot get a job in academia at all.

BilboBaggins rightly points out that in some fields self-funding is not uncommon. Knowing what field you're in might help people advise you. In some fields, self funding might actually be looked down upon by future employers, particularly if it's in a field where there are reasonable funding opportunities at PhD.

Hello

Thank you for your advice.

I am in social science, and I have found a few funded opportunities available, but I have just not been successful so far. I am going to keep trying to find a funded place, however I am thinking about this as an option if I haven't found a PhD by this time next year. After completing my masters I did spend some time working in a research assistant role, however this was a short term job, but it was during my time in this role that I decided a PhD is what I would like to do. I have been asking for feedback from the interviews I have attended and am currently trying to address some of the areas I can improve on.

There are two main reasons why I would like to do a PhD, the first is that I would like the intellectual challenge, however I would also hope that by completing a PhD it would help me to find a job in academia once I had finished (although I do realise these are quite hard to come by at the moment!)

One of the things I am concerned about is that by doing a self funded PhD it would be looked down on by future employers.

SELF FUNDED PHD

advantages?
1. u'll get work experience. u can do ur phd part time and work full time. after graduation, u'd get a phd like everyone else, PLUS 3 years of working experience. they are getting allowance but i reckon ur pay might be more than that. :)

2. u'd get a stronger, more powerful push to get ur phd done on time. i once met a journalist who funded her own phd in linguistics and got in done in 2.5 years. yeah, 2.5 years of part time research, no joke.. crazy.

3. nobody owns u. freedom might seem like a minor issue to most people but to some people like myself, it's a really great deal. self funding means u can do what u wanna do ie completely decide what to research on. u're not tied up, u dont hv to impress anyone. it's all up to u. a friend of mine did his phd in medical engineering. half way through, for some reason, the committee decided that his research topic wasn't relevant. he had to change the topic after 1.5 years of research. yeah.. shit happens.


disadvantages?
1. u can't afford the luxury of being a slacker for important events ie to celebrate a research breakthrough etc. time is money and slacking off can bleed u dry.. no, u can't take an impromptu break during office hours to go to the mall and catch the finale of *breaking dawn* like other phd students. u can read their tweeter on this tho.

2. u might have to sacrifice one of ur weekends, either saturday or sunday for research. this one sux, seriously. however, in time, u'll get the hang of it.

3. time flies really fast, supersonic speed. while other phd students can dwell on the evolution of ideas at the normal pace, u won't hv the same opportunity. instead, u gotta decide and act, pronto! good thing is, u're gonna have to learn to manage time more effectively and that's a real asset when u work.

Traveller - there's a good range of perspectives here. Social sciences are sort of midway between humanities and sciences - it's less common to self-fund than in the humanities, but doesn't have the stigma necessarily that it seems to have in the sciences. Are you geographically mobile? If so, and you meet the eligibilty requirements, I'd suggest having a go at applying to as many ESRC doctoral training centres as you can find feasible supervision for the Spring deadlines.
One downside no-one's mentioned yet but as you say you might want to try for academic jobs, I think it's relevant, is the ability to do the extra stuff that makes you more competitive for posts while juggling the need to bring in money. You need to get teaching experience, publish and present at conferences. People often manage the thesis but not the extras. Also, it's quite rare to go straight into academic employment afterwards and if you're already in debt or struggling, it's even tougher to try and piece together a living doing hourly paid teaching to keep a foot in the door while publishing madly. These might be things worth considering.