In what areas is a PhD actually beneficial to employment/salary?

>>1462831
Mathematics

>>1462831
Stats/ML

>>1462838
>ML
ML?

I was considering doing a PhD at Monash with their stochastic processes department. Would you count that under stats? Or do you mean applied statistics?

>>1462831
PhD in Medicine obviously. Like a doctor.

>>1462831
Pharmacists or health care providers of any kind other than nurses, in which case a nurse practitioner is basically end-game, lawyers, etc. If your profession doesn't require a phd or doctorate, such as business, criminal justice, economics, math, computer science, etc. I'd say a master's is as far as its worth going.

>>1462839
Machine Learning. Stochastic processes sound pretty interesting, and I think there's lots of application domains for that if you want to go that route, all depends on your advisor moreso than the pedigree of your school, though.

>>1462849
Interesting. My current Uni has a shit ranking (like 250 in qs ranks world wide) but there's a famous statistician here who could supervise me, he's really well known for his work in stochastic processes/probability. You think it'd be better to get a PhD under him than at somewhere ranked more highly such as Monash?

>>1462860
Really depends how good your advisor is and how related his expertise is to your own thesis, but yeah, I'd pick a great advisor over a slightly better school (but less likely to have an advisor that gives a shit) every time

See: https://www.quora.com/What-is-more-important-during-a-PhD-the-advisor-or-the-rankings-of-the-university

>>1462866
I realize that's a CS question but similar logic applies to stats, especially with a lot of the cross cross-pollination between math/CS/stats departments