I'm graduating with a bachelors of Mech Eng next summer. Project supervisor says I should do a PhD cause of my grades and thinks I would be well suited to research (which is probably right). My only fear is that the money is shit and that I'd end up 4 years behind all my peers financially if I did this.

Other option is just try to get an entry level engineering job somewhere which may or may not be that easy on account of covid. The biggest engineering company in my city just cut 300+ jobs today and a lot are still on recruitment freeze.

Is it worth doing a PhD if I'm probably going to end up in industry anyway. Will I be cucked financially?