- A chunk of your money will go towards a Stanford-subsidized dorm room or apartment
- Even beyond housing, the cost of living around here is not cheap
- You may not love Stanford's student health plan, in which case if you're over 26 (and can't be on a parent's plan), you're looking at paying for your own health insurance via the ACA market or otherwise
- To be making the full $64,110, you need to have advanced to candidacy (generally this is 3rd-year students and later) and stay for the summer with a "full-time" [90%] RAship. Many students do summer internships in the industry instead, in which case you're probably making way more money.
- Even with recent economic pressures, this is still much less than you can probably make in the industry, and for some subareas of CS, much much less.
I think the summary would be that if you're in a place where you have the luxury of mostly just needing to support yourself, and your health needs are well-met by a student health plan, you can afford to get a PhD here and focus 100% on it and enjoy a reasonable "student+" lifestyle for the 6ish years that will take. (Or a better lifestyle if you take summers to intern in the industry.) There's still a huge opportunity cost. The people for whom this doesn't work are often people with families to support (e.g. children and/or a partner without their own source of income) or other demands on their time or finances.
(I took two tries to get a PhD, but the second time was great!)
Tuition is fake so it shouldn’t be included as a benefit. If you can get into Stanford CS PhD you can get a job at a FAANG. They pay a lot better than $70K a year
I'm definitely not telling you to go get a PhD in English/history/education/theater for the money, but if you did, my understanding is that the salary you could expect here is around $48k-$49k a year (+ health plan). I don't think any PhD student is earning less than half the amount I cited.
When you say "A large percentage of Stanford PhD students work at least one additional job," if you mean TAing, then yes, that's true -- I think every PhD student has to TA at least a few times, and more depending on how well-funded their program or advisor are and whether they have their own fellowship. (Regular faculty also have to teach on top of our research responsibilities.) But if you mean some outside-Stanford job, I don't think this is common.