Used to earning FT money but interested in pursuing a PhD.

Legacy_user

Heya, for those of you who were considering options / weighing up doing a PhD, what clinched the deal for you? I’m in the 2nd and final year of my PT MSc, which I’ve really enjoyed and done really really well in my results, whilst also working FT. I’m interested in extending my MSc researching and doing a PhD, but I have some concerns. It may be because I’m aware of the stark realities of doing one, and possible lack of opportunities after depending. But I’m also 25, live at home with parents, have worked FT since 2014 since I graduated as an undergraduate and I have goals of buying etc etc. I’m concerned about the pause in that, but I also feel that as I live at home and have a genuine interest in pursuing this, now would be the best time. Have others here been in the same position, what did you decide and for those who did a PhD, how did you survive? Surely it’s still possible to save a bit here and there? We see stories here and there all the time of people earning less who have done well with their money and piled up savings, and that’s important for me to continue if possible. Sorry lots of questions, would like to hear your experiences. Thank you. P.S. I’m aware there’s a lack of paragraphs, it’s because I’m using my phone

DottieDam

The PhD stipend isn't so bad, £13k tax free when I did mine three years ago. And as it is tax free it's actually more like £18k.

I wouldn't do a PhD without funding, yes it is competitive but so is the job market afterwards and if you can't get funding now work on getting it the year after (for example publish your masters, do some work experience for a Prof).

If you can live at home then that's great but do consider moving to another university as it would be good for your development and CV.

Oh and get a credit card and airmiles. I travelled so much during my PhD and postdoc that I was constantly waiting to be reimbursed but did get a free flight in airmiles!

You don't necessarily have to plan for a life in academia when doing a PhD, you would be sensible not to as only one in ten stay. But it's an enjoyable experience if not torterous at times!

sangie595

I did mine whilst working. If you are disciplined then it can be done.

agrinnall

DottieDam is right that without funding or some independent means it would be very difficult to manage for the minimum 3 years (but likely to be longer) that it takes to complete a PhD. Whether that funding is available is very dependent on what your subject area is, if it's one that the research councils are interested in then there's a better chance than if they are not.



If your university has it's own funds for doctoral studies that's probably the best option, but most either have no or very limited funds. Discuss this first with potential supervisors for your research topic.


Have a look here for some general background on PhD funding.


https://www.findaphd.com/funding/guides/phd-funding-guide.aspx


And take a look here to see what specific funding opportunities are currently available.


https://www.jobs.ac.uk/search/phd


It's also entirely unclear what will happen to research funding at all levels after Brexit, so unless you can secure funding in the next 5 1/2 months you might be better to wait until then to see if things become any clearer.