In the past decade and a half, major changes have taken place in patterns of physics‐degree production and employment of physicists, and new changes are on the horizon. Industrial opportunities continue to expand and positions in academe are on the verge of reopening as the bulk of physics professors hired in the early 1960s move toward retirement. The number of US citizens completing degrees with the aim of pursuing a professional career in physics, however, remains limited. Our major focus in this article will be on graduate training, a requisite for most professional work in physics, but we will also pay attention to the important role that undergraduate and secondary‐school preparation plays and to the varied career options available to individuals with a solid physics background.

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