Hi cvk, well my case is similar with urs, yeah i jump from degree to phd..
Well the question to do or not to do, we can only advise u, but u d one that have d answer deep inside of u. There are many reasons to do or not to do phd, well i dont know ur reason, but i can help by listing mine.
1. I do not really into "working" culture, in at 9am and go back at 5pm (im d lazy type, usually i wake up very late

) Plus i did my internship last time, and not really keen about work stuff...well its hard to say why, but let say..im not really into it.
2. Interest is d important factor, if u really interested in the topic u will be doing, then u will have joy and so much fun doing what u want. if u go to working life, doing waht company wants but not what u want, u might feel stressed out or de-motivated.
3. Money!!! For everyone money is important, no matter how hard we deny it. Well of coz if u choose working, with ur good result, i can say u will earn around 3-4k range of payment. Well with phd, u might earn an allowance around 2.5k (for Biasiswa agong), 2.3k (NSF/Mosti scholar) and around 2k for university pay. well it depends on ur situation, do u need 3-4k to live? to pay for ur car and house? For me, i reving a simple and minimal life for now. because i can see brighter future ahead.
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ceive around 2k for my phd..but it is sufficient for me.. yes my frens all driving bigger and better car than me, they might have bigger house and im still stay with my parents. Well..it is sufficient for me at the moment, im lucky to have house to stay and enuff money for my car and food. so yeah, since i dont need alot of money, i opt to pursue for phd first =) plus, phd holder can earn around 5-6k after they graduate. So yeah, i wouldn't mind li
btw thanks to highwind and sergeant pepper for backing the phd life, its hard to "talk" or negotiate with ppl that pulling PhD down by saying it is easy and stuff like that, and it is not pleasant to hear it from someone that not doing the research itself. (its like footballer listen to all the crap from the spectators and fan..haha there is a reason why the footballer is who he is and in the field playing and why the spectators/fan still remain at other side of the field

)
I see. spikz, How is your study right nw?? But actually d paid 4 bio student, even wif 1st class is lesser than d allowances fr biasiswa agong(2.5k), so i might b poorer than those phd student. By the way, izzit hard 2 apply d biasiswa agong,?it like not bad oso.