Here's the dilemma, I (27) work in transport planning (full time salary £31,500) and have an opportunity to undertake a fully funded PhD part-time, with a studentship of around £20,600 0.5FTE. This is something I'm eligible for as I'm disabled and the PhD links to accessible transport, an area I have a strong knowledge in at my charity. I feel I wouldn't have another opportunity for a PhD until I'm retired and can afford to self-fund. However, family circumstances need considering.
Pros:
- Likely to boost my career prospects significantly.
- Keen interest in the area of research.
- Employer is open to 0.5 FTE.
- Supports my professional role.
- Studentships aren't taxed so take home pay would be actually slightly higher than current pay (£1965 vs. £2023).
- DP (27) earns £45,000 per annum so can compensate and has strong career progression options up to £60,000 within 5-7 year window.
- Mortgage is relatively low - £900 per month and we relatively low debt repayments at £200 per month.
- Our parents are still relatively young, well off, and no family members need support.
Cons:
- 2 year old DD would get less time with me.
- Balancing work-study-family could be difficult as we want a 2nd DC.
- We have full time nursery commitments for at least the next 5 years.
- 5-7 year commitment
- Blocks most career progression options for 5-7 years
- London based Univeristy so travel from Birmingham weekly (likely to become easier with HS2). May be fundable under DSA?
- Unsure how it would affect mortgage renewal.
Is there anything else I should consider?