On the other hand, my PhD was one of the most rewarding times in my life. I was independent, I worked on fascinating problems, and I had the time to learn about topics at a very deep/expert level. I am proud to have extended the range of human knowledge in a minor way.

> Once you've dropped out of academia, the prestige of the PhD will matter for nothing.

I don't agree. I work at a large industry research lab, and every position basically requires a doctorate.

I had some sloppy bad habits and a PhD helped me overcome them. It also taught me skills that I'm finding invaluable in industry (autonomy, project management, full stack programming, etc.)

But as the parent said, doctoral programs have high drop out rates (it's like Navy SEAL BUD/S in some cases) and it is almost certainly not about the money: a masters is likely the sweet spot for most technical degrees if you want the best price/Salary optimization.

More to OP's point, I was offered several Quant positions after my PhD and had no trouble getting interviews. I don't this the particular program matters very much. My doctorate was from UT:Austin.