I will take a different perspective on this. There are no advantages and disadvantages of this. It all boils down to what you get from your PhD.
Nowadays, many PhD programs in the US and Canada require that you have 3–5 first author peer-reviewed papers before graduation. Europeans do this also. This can be advantageous if you are going to the academia in a different country. Many countries fund PhDs. Some don’t especially for international students. So the advantages and disadvantages vary but I would not say there is any if you attend a good school or do a good PhD. PhDs are personalized experience. Just make the best of it.
Samuel O. Alfred, Researches on the Physics behind cooking as a pastime
Source: Quora Digest