What is the opportunity cost of a 5-year STEM PhD?

5-year STEM PhD opportunity cost: Lost industry salary ($75K–100K × 5 = $375K–500K) minus PhD stipend ($28K–38K × 5 = $140K–190K) = net sacrifice $185K–360K. Add lost compound retirement growth: $200K+.

PhD Opportunity Cost Calculator

Calculate the total opportunity cost of pursuing a PhD vs entering the workforce. Factors in tuition/stipend, lost years of industry salary, retirement contributions, and career start delay.

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How to use this calculator

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3
Calculate the result
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4
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Formula

Result = f(inputs, settings)

inputs: Values entered into the PhD Opportunity Cost.
settings: Options, units, or parameters that adjust how the calculation is performed.
Result: Computed output for the chosen inputs and settings.

Glossary and Definitions

Input: A value entered into the calculator to be processed.
Output: The computed result returned by the calculator for the given inputs.
Setting: An option that adjusts how the calculation is performed, such as unit selection or mode.
Phd opportunity cost: A key concept referenced by the PhD Opportunity Cost: Calculate the total opportunity cost of pursuing a PhD vs entering the workforce. Factors in tuition/stipend, lost years of industry salary, retirement contributions, and career start delay.
Is phd worth it financially: A key concept referenced by the PhD Opportunity Cost: Calculate the total opportunity cost of pursuing a PhD vs entering the workforce. Factors in tuition/stipend, lost years of industry salary, retirement contributions, and career start delay.
Phd income sacrifice: A key concept referenced by the PhD Opportunity Cost: Calculate the total opportunity cost of pursuing a PhD vs entering the workforce. Factors in tuition/stipend, lost years of industry salary, retirement contributions, and career start delay.
Phd vs job salary gap: A key concept referenced by the PhD Opportunity Cost: Calculate the total opportunity cost of pursuing a PhD vs entering the workforce. Factors in tuition/stipend, lost years of industry salary, retirement contributions, and career start delay.

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