Will a PhD make you better off? Not until 33 years later

Since you have indicated that you consider all such "lumped degree" ROI information "utterly useless", would you also take issue with the frequently cited "college degree advantage" calculation?

https://www.politifact.com/factchecks/2023/mar/08/stanley-litow/strong-support-for-notion-that-a-bachelors-degree/ It is also based on this single answer approach;

“Lifetime earnings of someone with a college degree is over a million dollars more than those entering the workforce without one.”

"Multiple analyses show that people with bachelor’s degrees stand to earn more than $1 million in added income over a lifetime compared with people who lack them, though one study showed differentials that, while substantial, did not quite reach $1 million."

"The income differential can vary based on undergraduate major, gender, race, ethnicity and industry of employment"

Once you take all the differentials into account, why is it wrong to give people access to the big picture?

Also, it doesn't appear that the researchers of the UK doctorate holder study have given a single answer without any nuance. They also provide differentials in the form of STEM vs. other doctorates, etc.

 

Isn't there a Social Science "dicho" that "correlation is not causation"?

 

It's so hard to measure these things. Anecdotally I suspect getting my master's had something to do with a significant pay increase but I can’t prove it. If nothing else, though, my employer knew I could go make more money elsewhere.