Probably half of my friends earning physics graduate degrees are not continuing in academic physics, with most of them going into something like quant finance or quant insurance.
The reason for this is primarily that there are simply not enough jobs right now for them in academia.
When I was an idealistic undergrad physics major I honestly never once thought about the job market. I assumed that you'd just go get your PhD and you'd become a physics professor, sort of like going to med school and getting a job as a doctor. You'd follow all of the steps and you'd be set...
Now being on the verge of finishing my PhD, I have a very different perspective and am fortunately in a decent position with employment options. Some of my friends are only now scrambling to make sense of their options.
The reason for this is primarily that there are simply not enough jobs right now for them in academia.
When I was an idealistic undergrad physics major I honestly never once thought about the job market. I assumed that you'd just go get your PhD and you'd become a physics professor, sort of like going to med school and getting a job as a doctor. You'd follow all of the steps and you'd be set...
Now being on the verge of finishing my PhD, I have a very different perspective and am fortunately in a decent position with employment options. Some of my friends are only now scrambling to make sense of their options.