Getting a PhD is almost never worth the foregone wages if your goal is to be in private industry. For sure, people should get one if they are interested in research, or specific jobs that are only available to people with PhDs. But otherwise it isn't something to get into half-hearted.
replyA difficult degree in philosophy or english lit also does the same thing. Humans are amazing generalists, and when we practice thinking deeply, that skill transfers and allows us to pickup new domains.
replyPhilosophy is excellent training in the analytical skills needed for any knowledge-based job. Critically evaluating information, constructing arguments, thinking of counter-examples, etc.
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