> PhD it's at best a weak proxy for how much value a particular employee provides to the business.
Compensation is almost never based on what value employees provide to the business but what the market will pay for them. If PhDs get paid more it’s likely because the market is willing to pay more for people with those skills.
Fwiw: I don’t have a PhD. But I do find the lazy PhD bit pretty tiring too.
With PhD thing is the supply is relatively low. At least compared to number of Masters and Bachelors available. Thus just alone that they can cost more to hire. Demand is much more murky question however.
It depends on the field, but however much effort it takes to get a PhD it's at best a weak proxy for how much value a particular employee provides to the business.
> and you will see your people take off
Yes, you'll see your best employees take off to an employer where they are paid better than their time-serving colleagues.