There were similar developments in many other continental European universities, and at least until reforms in the early 21st century many European countries (. Belgium, Spain, and the Scandinavian countries) had in all faculties triple degree structures of bachelor (or candidate) − licentiate − doctor as opposed to bachelor − master − doctor; the meaning of the different degrees varied a lot from country to country however. To this day this is also still the case for the pontifical degrees in theology and canon law: for instance, in Sacred theology the degrees are Bachelor of Sacred Theology (STB), Licentiate of Sacred Theology (STL), and Doctor of Sacred Theology (STD), and in Canon law : Bachelor of Canon Law (JCB), Licentiate of Canon Law (JCL), and Doctor of Canon Law (JCD).
A PhD will provide you advancement in your career, usually a hefty salary differential, and prestige. You should thoroughly research career prospects before you commit to a program: some fields, such as the humanities, are increasingly glutted with PhDs, making it near impossible to land a job at all, especially if you are seeking a job as a professor. Other fields are expanding. Logically, if a field is growing in its need for research, and is connected with powerful policy decision-making, then a PhD in that field will be an asset. PhDs in economics, finance, marketing, and development studies, just to name a few, are solid bets for future job and salary prospects.