Jan 21 2015, 09:22 PM
QUOTE(juniortok @ Jan 20 2015, 12:44 PM)
Oh...besides all the serious reasons, I do it for a very important personal reason. I worked very hard for my family in the last 10 years (and 5 years for myself before that). I think it is time for me to get my reward. Besides a personal achievement, I look forward to going UK every Feb, June and Oct. I go with 100% intention to enjoy the trip and learning. The last time I stopped over at Dubai, which I have never been. This time Paris, which I have never been too. Next time I will stop by Amsterdam. Last time I flew economy. This time I fly premium economy. Hopefully, I strike a lottery next month and I fly business in June. If not, economy again. All these remind me of my life, make me reflect that I am a person. Not a dog.
Having said that, I make plans too. I have discussed with a couple of banks who said that they would support me in terms of providing me with data (not giving me money). I have gotten a few developers who said that they will help me publish in China. I have made contact with 2 universities (starting to make friends) so that when I get my degree, they will hire me as a adjunct professor. I will only get my degree in 4 years time, but I have started doing all these (and more which I didnt list). This is called long term greed (Goldman Sachs motto). I have not achieved anything yet, but I have a game plan which is half way through my execution.
I get you about the financial costs of doing this. But there is bigger picture here. DBA/PHD is a 4-5 years program with a lots of commitment (a lot of work, trust me). What is the opportunity cost?? If you invest the RM200,000 into a business today and work as hard for it....you might even build a small listed company if you have the vision and network or a side business that make you stable income few years later. This sounds silly but its totally true. So, if you dont plan your DBA well, your IRR is definitely negative (Senior Lecturer income is only 10k per month, no bonus). So, it is very important about why you want to do it. So, why you want to do it?
Well said and I glad you enjoy your trips Having said that, I make plans too. I have discussed with a couple of banks who said that they would support me in terms of providing me with data (not giving me money). I have gotten a few developers who said that they will help me publish in China. I have made contact with 2 universities (starting to make friends) so that when I get my degree, they will hire me as a adjunct professor. I will only get my degree in 4 years time, but I have started doing all these (and more which I didnt list). This is called long term greed (Goldman Sachs motto). I have not achieved anything yet, but I have a game plan which is half way through my execution.
I get you about the financial costs of doing this. But there is bigger picture here. DBA/PHD is a 4-5 years program with a lots of commitment (a lot of work, trust me). What is the opportunity cost?? If you invest the RM200,000 into a business today and work as hard for it....you might even build a small listed company if you have the vision and network or a side business that make you stable income few years later. This sounds silly but its totally true. So, if you dont plan your DBA well, your IRR is definitely negative (Senior Lecturer income is only 10k per month, no bonus). So, it is very important about why you want to do it. So, why you want to do it?
For me, getting a phd is beyond financial rewards but rather getting closer to the truth, understand it, and be able to use it in a beneficial way.
Here's a little story for those who doesn't know economics. Less than 300 years ago, a chap named Adam Smith was combining philosophy and psychology (to form a new field, Economics study) and use it in the determination of national wealth (ie allocation of resources). He was kicked from his university as economics study simply didn't exist.
Less than 300 years later, we now acknowledged economics as a scientific knowledge, with great significance to human. Economics study is part of Nobel prize and his final book, The Wealth of Nations, is often considered to be one of the most influential book in human history, up there with Bible, Principia and I-Ching.
So for me, phd study may looks irrelevant to Business owners and general public. Doctorates often employed by researching bodies to carry out research as their daily works and these researches may look irrelevant to general public. However, these researches build the better future for us and knowing that gave me great energy to continue.
This post has been edited by ru40342: Jan 21 2015, 09:24 PM
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