16th March 2011, 10:09 AM
I'm just a beginner but I've scrubbed plenty of pot sherds with folks who have PhDs and no other job options. From what I've seen, you do a PhD because it's important to you on a personal level. These days, you don't seem to do it to improve your job prospects unless you're aiming for academia, which appears to be an increasingly unlikely/insecure option. I've certainly met people who've been handicapped by their "over qualification" in several employment fields, not just archaeology.