Does it pay as well as industry?
Although, I wonder how well an PhD would do in your typical applied science field. There is a limit. Unless they are working in bleeding edge R&D. However, these types of jobs are rare.
Read an story about a couple of PhD chemists who where unemployed and had difficulty finding work. They removed the PhD from their resumes and found jobs.
I don't have a PhD. However, I have observed many who do have PhDs and have noticed that having a PhD and looking for a job is a misapplication of credentials. Holding a PhD is more like winning the lottery. One can and should write one's own ticket. Also, a PhD need not do the work associated with that particular field, but should direct the work. Rather than working in the lab, the PhD should own the lab. Rather than programming the supercomputer, the PhD should own the supercomputer. Rather than designing Mars spacecraft, the PhD should be directing the project. Look at our favorite villains Soros, Savage and
Chomsky: They don't have jobs and they aren't known for the contents of the PhDs. They have the world at their feet, and that is the true use of the PhD.