this post was submitted on 28 Aug 2023
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Hey! I'm in a similar boat. I also do electronics design and can't deal with the 100% pay cut that a PhD would incur. At least not yet.
My current solution is just to research things on my own, without a university. I design things I think might be interesting, then get the boards made at a factory (cheap these days), then populate them and test it out. Cost tends to be quite low per project (under 100$ even for fairly advanced things like particle physics). Then I write it up online or do a conference talk if people think it's interesting enough -- and if they don't, I really don't care: I'm already all about the next project!
If I strip away all the "publish or perish" nonsense as well as grant applications and teaching requirements, it turns out I can do a satisfying amount of research in my spare time. Equipment costs are not a disaster either -- maybe a 1000$ oscilloscope (which I need for work anyway), but very ordinary other stuff otherwise.
A good side effect is the stuff I work on keeps me sharp at work, and on rare occasions produces something commercially useful. It also forms a body of work that I use to advance my career, as examples of neat stuff I know how to do. I'd have a hard time putting a number do it, but I'd estimate my research has a negative cost.
Right now, I'm trying to do audio processing in 16 bytes of RAM and under 500 bytes of program. So far, it looks like it will work, but I don't know yet!
The only people who choose to get a PhD without receiving a stipend are either stupid or wealthy. Don't get me wrong, in the US you make very little as a PhD student, but not a 100% pay cut. Most students are not working for free.