I'm coming from a biomedical engineering background, and I'm noticing that almost all job postings ask for either an MS or a PhD, and from speaking with my friends with masters it seems that masters are often favored, because they demand less pay. In fact, the only positions that specifically seek out PhDs seem to be research positions in industry.
Based on that, I'm curious to see if this exists beyond just engineering. Are there any non-research industry positions that actively seek to hire PhDs over masters students?
I don't have hard numbers to support this statement, but I've been told that many investment banks are quite interested in PhD (although mostly in hard sciences) for quantitative analyst jobs. These positions are not research positions, but it seems that the rigor and the experience of research, in terms for instance of modelling data, acquired during the PhD is appreciated.