Many college professors hold a PhD.
There are many reasons to earn a PhD. The potential to command a higher income often outweighs the high cost of obtaining the degree. Earning a PhD allows you to explore a subject you love, acquire more knowledge and meet students and professors with interests similar to your own.
Research
Many people obtain a PhD because they're interested in a particular subject and want to research it. Working toward a PhD allows you to take classes of interest to you and get to know other experts in the same field. A PhD also prepares you for jobs that require a background in research.
Career
Obtaining the credentials to teach in a college or university is a common reason to earn a PhD. While some community colleges allow you to teach with only a master's degree, most schools prefer that applicants have a PhD or be in the process or earning it. You may also attain a PhD to qualify for a prestigious job such as doctor or lawyer. You may want to obtain a promotion in your current job or get a better job in the same field. Employees who have a PhD earn more money than those who don't have the degree.
Prestige
Many people earn a PhD because of the prestige it affords. You may want to impress friends or family members, or gain the respect of others. Some people, such as authors or entrepreneurs, obtain a PhD so that others take them seriously and consider them an expert in their field. A PhD often puts people in contact with other experts with whom they can network and further develop their careers.
Knowledge
Some people pursue a PhD because they have a thirst for knowledge. They love to learn new things; therefore they continue their education. These kinds of people often have multiple degrees in various subjects and more than one PhD. Accumulating knowledge makes them feel good about themselves. It also makes them interesting to others because they are knowledgeable about a variety of subjects.
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