Only do your phd if you want to become a lecturer and join the ranks of Watson and Render!! Phd's are something you should do later in life to benefit your career (within Engineering industry)...
Lovezzin,
What a load of old tripe that statement is. I was 24 when I graduated with my Ph. D. and I work in nuclear engineering, although my Ph. D. is not engineering based. You don't do a Ph. D. just to become a lecturer- to obtain a number of jobs in the engineering sector a Ph. D. is a pre-requiste.
My own personal experience is that doing a Ph. D. has worked wonders for my career prospects (non-pilot), even this early on in my working life.
A Ph. D. is almost certainly worthless when it comes to pilot training and obtaining a job as a professional pilot, however, as others have said before me, it demonstrates that a candidate is highly motivated. I can certainly relate to what Genghis has said about the skills that a Ph. D. gives you.
I'd say if you really want to do a Ph. D. then go for it, it can't harm your prospects as a pilot, however it will most likely do little to enhance them either.
One thing people haven't mentioned so far- make sure you are interested in the subject matter you are going to research. If my Ph. D. experience is anything to go by then there will be times when you will be asking yourself why you started the damn thing in the first place- especially after 1.5 years with no results! A keen inetest will make the hard times all the more easy to bare.
Another tip- try and pick an area that is a "hot topic" in industry. I purposely chose to study my area becasue I knew a skills gap existed and that there was a high demand for specialist knowledge. It will certainly help pay for all of those expensive flying lessons!
Good luck with whatever you decide.
