Is a Masters in Molecular/Developmental Biology just as good as a PhD??

That made me laugh, sorry. Your goal in life is to make six figure ($ x00, 000)? Neither could make you six figure unless you find a job or start a business of your own. If you graduate with either of those credentials, unless you find a job, you won't be making anything. Those that make the most are usually passionate about what they are doing, and the money comes as a by-product of hard work at the lab, etc. Furthermore, you can't enter into any reputable PhD program unless you complete a masters program. You need the experience as a masters graduate in order to be accepted in a PhD program. If you complete your masters, you could earn yourself a job teaching at a community college or university, but that still won't enable you to earn six figures. You'll be lucky to earn 45 dollars an hour, teaching part-time -- still not enough.


Unfortunately you have no choice here. Most studies take longer than a year to complete, so it's going to take you a minimum of four years doing your PhD plus two years as a masters student after four years as an undergrad.

 


I am sorry, where are  you getting your information from? I have an aunt who went straight to medical school after her BS to get her PhD. Never obtained her Masters.

There are SEVERAL schools where you can apply to obtain your PhD WITH OUT obtaining a Masters. For instance here is Harvard's requirements below.
http://www.hms.harvard.edu/dms/bbs/prospective/Admissions.html

For your information you CAN obtain a 6 figure (100K PLUS) a year. Granted, it might be a few years POST doctoral however you can obtain it.

A simply click on glassdoor.com (this site posts job salaries) or heck even monster or career builder will show you a Research Scientist salary

I have a masters degree in biology - similar to what you want to get into. "Medical school" is not a masters program in my books. Yes you can enter medical school from a BS (I never said you couldn't), but you never mentioned medical school in your original post -- if you did, it's not there anymore.


Then, I hate to say it, but those schools are setting their students up for failure. Ivy league schools are totally different that normal universities. They set their students up really well after an undergraduate degree, since they only accept the most qualified/gifted high school students to enroll in the first place. I don't speak for all schools, but where I come from, and from whom I've spoken to, befriended, and acknowledged through experience, a masters program leads to a PhD program in research.

 
Okay, and who is going to pay you? Why are you being ignorant to my original post? I mentioned that there is no way in hell you'll make six figure if you don't have a job. Employers look for people who are most skilled and passionate. If money drives you and you have no passion, you'll be working at Starbucks for $10.50 an hour.


According to that website, I should be making $55.60 an hour. Sadly, I don't make close to it.

Ok well I haven't ever heard of needing to get a Masters to obtain a PhD. But maybe you do not live in the US and they do things differently in your country.

And of COURSE I know you can not obtain a salary with just a degree online. I am asking if I wanted to be a Research Scientist, would I be able to have the same salary (6 figures) as if I had a PhD?From my own findings, I do not think I would. I would be close, but not make as much. I also would be limited on my growth with that company. My aunt is telling me other wise. She said with more research experience, I could get there. But being the person that I am, I do not stand on just one persons assumptions alone. I like to do my own research. Thus the reason for this post.

But thanks for even commenting. Although my question was not answered, I appreciate the gratitude alone.
Thanks

Let's say you do end up getting your PhD after six years, post-graduate. You're now looking for a place where you can conduct research -- it could be at a university, pharmaceutical company, etc. Let's say you find a job-posting at a university and get an interview. They will ask you about your research credentials and that's when you tell them you've studied so-and-so. They end up liking you, and subsequently offer you a job as a lecturer (10 hours per week) and a researcher. Technically, this university isn't paying you to "teach", but more-so to conduct research and produce at least one research paper per year so to increase their reputation. If you are productive in doing research, the sky is the limit in terms of making money. I knew of one researcher I worked with that got a grant for 2.6 million to conduct research on a product that a private company wanted studies done. However, grant proposals are hard work, and attracting grant money is an important factor in getting promoted. Only full-time professors get those, and they are the ones making six figure - minimum. If you're not getting grants, you'll need to bribe your students to work for you for free over the summer months as you are conducting research because you don't have grant money to pay them, unless you pay them out of your pocket. The harder you work, the more you'll make once you've found a job. To put it in perspective, there are foreigners that come to North America with PhD credentials and work as taxi cab drivers because their credentials are not given merit here.

Good analogy! Much to think on. I appreciate the information again.

most *successful* professors are old too, which means something

No worries, but believe me, money making isn't an easy task. Are you enrolled in a post-secondary institution?

 
Good point 

Post Merge: 10 years ago

I am not enrolled yet. I have to submit my applications by the end of the year

Get on that! Make money while you're young so that you can enjoy it while you're older