Is a PhD worth it?

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Hey /sci/, I'm a materials engineer. My employer has offered to pay for me to get a PhD, and I'm not sure what to do.

I don't have a masters or anything, did a fair amount of research in uni - played lab monkey for awhile, it wasn't fun. Are the doors a PhD opens (on the technical side) worth enduring the academic, political wasteland that is graduate education?

Cheers.