Good/bad idea? I love school, research, etc., and my opportunity costs are relatively low right now (well, sort of, or manageable) one of a couple specific biz fields or econ. (Originally posted in 2010) *************March 2012 UPDATE******* Can't believe it's been over 1.5 years since I've made this thread. Also can't believe how stupid I was and how little I knew about the academia, but we all have to start somewhere. It has been a long road, but I'm happy to report that I will be starting in a PhD program sometime this fall. I have worked hard for the last year to make myself into a great candidate, and it has paid off very well for me - I've received multiple offers, including several from programs with fantastic reputation. I'm nearing the end of the decision-making process and will be choosing which school I will be going to pretty soon. I feel fortunate because I would be happy attending any one of the programs I've been admitted to, so there are plenty of reasons to be excited. At this point I'm finished with the corporate thing - I have done everything from running my own businesses to working in large and small companies, and at this point I need an intellectual challenge that only academia and research can provide. I'm walking away at a high point of my career, and I'm absolutely sure that it's the right choice. It will be interesting to go back to living like a poor grad student (well, kind of) but I can manage, and I doubt that I will have much time to waste on frivolous things anyway.