Imagine that you have a well paid job (that you like) and a stablished carrer with potential to evolve and suddenly an opportunity to enter on a PhD program (in a field of study that you have interest) with grant support arise.
Would you leave your job to follow the PhD?
Imagine that at least 4 to 6 years will be needed to complete the PhD and during this time, the only money that you´ll be able to get will be from your PhD grant.
What are your opinions about?
Most particularly, if I like watching ballet and would be happy to see more of ballet in the world but I have a foggy idea of what ballet dancing professionally looks like outside of public performances, I would think that I'm probably overly romanticizing the ballet dancing option and, at the very minimum, speak to three practicing ballet dancers to get their opinion on the career prior to investigating it further. I would make special effort not to speak to ballet dancers who achieve the level of success which allows them to attempt to hire me to join their dance company. Those might be comparatively few in number but disproportionately happy with the career path, since after all they get to have beautiful young people prancing about all day on their whim and don't need to pay anyone anything to make it happen.
- Do you have a wife or children to support? Will you get married or have children partway through your program? How will you pay for health insurance for them?
- Can you live on the grant amount? My Ph.D. stipend was about $21k a year. Fine for a bachelor, tough for a family.
- Do you "have something to say"? If you just want to learn more about the field, you might want to consider a part-time masters instead. A Ph.D. is for people who want to push forward the state of the art.
- What is your end game? Once you complete the Ph.D., do you want to enter academia? Consider that tenure-track positions are increasingly scarce, and adjunct/part-time faculty positions might not pay much more than your grant.
- How good is the program? Some advice I got was if you can't get into a top-10 program, it's not worth going. Also if they aren't paying you to be there, don't go. (This was for humanities though, and you do say you have a grant.) You should see how the people who just finished their degree have done on the job market.
- How old will you be when you finish? I started my program late, and when I realized I'd be starting the tenure-seeking game in my late thirties, I really had to reconsider.
- Can you go back? If you change your mind, how hard would it be to return to a position like your current job? (In my case I was interrupting a programming career to get a Ph.D. in Greek & Latin literature, so maybe your degree would have more value to your old career if you want to go back.)
I don't regret starting my program, but I also don't regret leaving after three years with just the masters.
Best of luck to you!
But please bare in mind, I didn't really like my job as a software developer, and upon being cautioned about the drawbacks of academia by a tenure track professor I reached out to for advice, I simply shrugged and told him: "What's the worst thing that can happen - I'll end up being a software developer for 35 years instead of 40?" He immediately agreed that if that's the way I look at it, it probably makes sense to make the jump.
My contact info is in my profile, feel free to contact me if you want. And whatever you decide, good luck!
If I just want to do research, I can do that anywhere. If I just want to talk to leaders in my field, that's what email is for. If I just want to deal with soul-crushing bureaucracy and depressed co-workers, I can get paid better for it elsewhere.
I might still consider it, but honestly I've found that doing teaching gigs on the side and pursuing my own research with friends in academia works just as well for my needs.
I don't understand how this question is answerable in any meaningful way.