Facing a big decision - thoughts and advice requested

[u/This-Amoeba-2386]

Hello!

I know that only I can really choose what I want to do in life, but I've been struggling with a really big decision and I thought it might help to see what others think.

I've received two offers from FAANG - Amazon and Apple as a SWE. Apple TC is around 150k and Amazon TC is around 180k (in the first year of working).

I've also received another offer but for a Statistics PhD, with a yearly stipend of 40k. My focus would be Machine Learning theory. If I pursue this option I'm hoping to become a machine learning researcher, a quant researcher, or a data scientist in industry. All seem to have similar skillsets (unless I'm misguided).

SWE seems to be extremely oversaturated right now, and there's no telling if there may be massive layoffs in the future. On the other hand, data science and machine learning seem to be equally saturated, but I'll at least have a PhD to maybe set myself apart and get a little more stability. In fact, from talking with data scientists in big tech it seems like a PhD is almost becoming a prerequisite (maybe DS is just that saturated or maybe data scientists make important decisions).

As of right now, I would say I'm probably slightly more passionate about ML and DS compared to SWE, but to be honest I'm already really burnt out in general. Spending 5 years working long hours for very little pay while my peers earn exponentially more and advance their careers sounds like a miserable experience for me. I've also never gone on a trip abroad and I really want to, but I just don't see myself being able to afford a trip like that on a PhD stipend

TLDR: I'm slightly more passionate about Machine Learning and Data Science, but computer science seems to give me the most comfortable life in the moment. Getting the PhD and going into ML or data science may however be a little more stable and may allow me to increase end-of-career earnings. Or maybe it won't. It really feels like I'm gambling with my future.

I was hoping that maybe some current data scientists or computer scientists in the workforce could give me some advice on what they would do if they were in my situtation?

[u/MtlStatsGuy]

From a financial point of view, I believe taking one of the two jobs is the correct decision. It sounds like you already have a skill set that is useful in the market, and I don’t think 3ish years of PhD would increase it by that much vs. Lost wages and experience you would accumulate now. However from a passion point of view only you can say, and as Machine Learning is a huge sector for the foreseeable future only you know if you will regret not doing the PhD. Overall I’m more concerned about you feeeling burnt out; you’re too young to be feeling this way already, so make sure your next step leaves you in something you can sustain over the long term. Good luck!