The recruitment of doctoral graduates yields collective knowledge, skills, networking, and prestige benefits to organisations, and to UK industries. As individuals though, do graduates experience overall benefit from their doctorate, and how do they perceive the value that engaging with doctoral study confers? This interview study used a critical, interpretive lens to examine perceptions of value across experiences of doctoral education and asked specifically about the utility of doctoral skills, behaviours, and competencies when translated into different workplaces. It presents some of the first insights into how doctoral value is perceived by graduates and the costs and benefits of doctoral study within and beyond the academy. Doctoral graduates (n = 22) identified four domains of doctoral value: (1) career value; (2) skills value; (3) social value; (4) personal value. These were influenced by factors experienced both during and after their degrees: (1) time since graduation; (2) supervision; (3) accrued social connectivity; (4) employer value of the doctorate. Our conceptual model of doctoral value contributes to international higher education knowledge by providing a structure for enhancing the doctoral experience and its benefits, both during study and for entering the job market.