PhDs
Out of context: Reply #16
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You better evaluate what it is you hope to get from it. As noted, usually research is the path (this coming from an architecture background).
In architecture, those that go on to Phd's will become professors, writers, etc., but not practice (not usually). 7 years (for me) of straight arch ed was enough!
Design, however, offers something unique (although it could be argued that some buildings, like Gehry's Bilbao, make huge economic and social impacts) - it can be translated into dollars. This, to me, is what has become more and more interesting.
A Ferrari always created a lust factor, but no one could afford one. But now we have iPhones, iPads and other 'design' oriented products. Without the design, both in industrial design and functionality, the product would be nothing.
But all this is difficult to quantify. What is sexy? You can research it to death, but at the end of the day it is more of a combination of vision, talent and execution.
If you could, successful, research and develop ways to duplicate this you'd be something.
Get an MBA at the same time, just to be sure ;-)