In Australia, only two-thirds of doctoral students finish their degrees, with underrepresented students completing at even lower rates. Students who successfully complete still experience many challenges throughout their degrees. In this narrative literature review, we use "preparation and readiness for the doctorate" as a framework to examine how students are prepared for studies at the doctoral level, the challenges they experience, and the support that universities provide. We also weave our own stories of the doctorate to demonstrate how the issues raised in the literature play out for doctoral students. Our findings suggest that how students are prepared for the doctorate remains under-researched, with much of the literature focusing on issues that emerge once students commence, and the supports that are provided in response to these challenges. A future focus on preparation may provide insight into how institutional processes can better support doctoral students to successfully complete their degrees.