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When I tell people without PhDs, it visibly shocks them — that to most nonac employers, a PhD signals (rightly & wrongly) that its holder will couple HIGH expectations with ZERO practical work experience breaks the "more education = more opportunities" expectation.
(I usually tell interested students to think about getting a masters degree instead, because a masters signals, "I can do advanced work and am serious, even if this is irrelevant to my future job" without going full-on into "I am a knowledge-monk" territory)
