As a research scientist and formal university instructor, Iíve been approached many times by students considering doing graduate studies. It seems a lot of people want to know whether they should stop at a Masters degree or go the whole nine yards. The biggest question is, is it worth it? It takes a lot of time, money and energy to do a Ph.D. and you should definitely be sure you want one before embarking on that journey. The bottom line, it seems, is if you want to be in an upper management position, run your own research group, or teach at a university level, you pretty much need to do it. But keep in mind that you might end up doing more administrative and writing than actual lab work, so if you like being in the lab, you might want to stop with the B.Sc. or M.Sc.
If you check out my "Five Reasons to do a Ph.D." you'll notice I didn't mention the financial payback. I have two reasons for this: The first is, in my humble opinion, you should pursue a career that makes you want to get out of bed in the morning, that holds your interest and won't make you feel stiffled or bored. Secondly, in some countries, at least in Canada, the payoff isn't that great. Becoming a scientist for the money is unheard of in this country, and if you want to really make the big bucks, you have to relocate to the south or elsewhere. That said, the rewards of studying science and working in the biotech industry are many and the money can be decent, even in Canada. So go ahead and do what makes you happy!