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    Big $$$ thing on your first bullet - professors get grants to do research, and pay students out of them. PhD students are worth the money (around for years to learn and get things done). Masters students don't have the same payback at all.
    – Jon Custer
    Commented Jan 5 at 13:52
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    The difference is even more clear in Europe. As a master student you are a student - anything that the university "gets" out of you is a happy, but ultimately unexpected, side-benefit. As a doctoral student you are staff, and it's commonly expected that staff gets paid.
    – xLeitix
    Commented Jan 5 at 14:32
  • @xLeitix That also depends on the european country and the funding. As a PhD student you are still often more a student (although not taking classes but doing research). Or a sort of staff or something in between if the funding gets you a real contract in sufficient amount (rarely 100%, but at least one has also the scholarship and some student benefits). Commented Jan 6 at 17:24
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    @xLeitix you want to mention that the master diploma is a somewhat hard prerequisite in most of Europe. We hire (or fund) fully educated professionals for their research towards a doctorate.
    – Karl
    Commented Jan 6 at 17:27
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    @VladimirFГероямслава Absolutely true that it depends on the country (and the field), but all fields have juniors, a PhD 'student' is just a junior employee. Just because you're learning and somewhat inexperienced doesn't make you a student. Maybe 'apprentice' would be a better term than 'student'. Commented Jan 6 at 21:34