PhD in AI vs Master’s: Which Path Leads to Better Career and Income?

I’ve been thinking a lot about this and I’m honestly a bit confused, so I’d really appreciate some advice.

I currently have an opportunity to do a PhD in AI, working on vision-language models, and I’m trying to figure out if it’s really worth it. What I really want to understand is whether having a PhD in tech actually leads to better opportunities and higher income, or if a Master’s degree is already enough to build a solid career in machine learning.

Right now, I have two options.

The first is to go to France and do an M2 (the final year of a Master’s). I already have a Master’s, so this would mainly help me specialize and pivot more into machine learning. The problem is what comes after—I’d like to work as a machine learning engineer, but I’m not sure I could land that role right away. I might have to start as a data analyst or data engineer, which I can do, but it’s not really my passion.

The second option is to pursue a PhD in Canada, which would take around 4–5 years. It feels like a more direct path into machine learning and would let me go deeper into the field, but it’s also a big time commitment and delays entering the job market.

On a personal level, I come from a humble family. They’re not financially dependent on me, but I’ve always wanted to support them and improve our situation. At the same time, I’m very driven—I want to build meaningful things and achieve something significant. That’s why the PhD appeals to me, as it might open more doors and lead to better long-term opportunities.

So I feel stuck between starting my career sooner with some uncertainty, or investing several more years into a PhD and hoping it pays off later.

If anyone has been in a similar situation, I’d really appreciate hearing your thoughts.