I am currently finishing up my first year of a DSW program and have already reaped the benefits. My program focuses on leadership and administration in social work, and I was able to win several interviews with some new and even high-ish profile organizations for Executive Directorships. I am now ED/CEO of a small, national bullying-prevention program. Also, the ability to pursue applied research with financial and mentoring support has been a boon both to my professional life and my academic life (the latter fact is somewhat obvious, but perhaps the former is less so). Honestly, the coursework has been mixed...could take some and leave the rest. But that is besides the point; I have met some incredible people who have really changed my perspective and have learned a great deal. Personally, I was already something of a researcher before entering the program, but this program has enabled me to hone my interests and skills and pursue a line of inquiry that has been very meaningful for everyone involved. Furthermore, the point of pursuing a doctorate is not simply to refer to oneself as "dr."; you cannot overstate the importance of being educated and recognized as much in a field that is rife with competition. Also, no one pursuing this degree believes that money is going to come pouring out in buckets. However, the ability to be taken seriously for more prestigious roles, with greater responsibility and an associated pay scale, is certainly an imperative, too. While I don't want to teach at this time, I may in the future, and this opens those doors in a very serious way. All in all, my feedback is this: if you have any good reason you can think of to do it and you can finance it, do it. The personal, professional, and even (some) financial rewards will be well worth your investment of time and money on the front end.