'Private Sector' Hiring!

Pythagorean

Reading through the March 2006 Physics Today, I saw an article about employment that claimed "the private sector continue to be the dominant employer of physics degree recipients..."

What is this 'private sector'?

Mickey

It just means work that isn't directly controlled by the government.

Pythagorean

but is there an accumulated market place or is it something you'd have to hope to find in the ads or do they go fishing at universities?

Mickey

Sorry, I edited my post after you posted. Government funds end up going to a lot of places in the private sector, so my post was misleading. The private sector is work that is not directly controlled by the government.

Anyone can start their own business and hire physicists, which would make them a private sector source of employment for physicists. Even physicists can start their own businesses. The private sector is very large, open and fluid, which should allow more creativity and advancement. You can potentially find private work everywhere and in anything.

franznietzsche

No it doesn't. In this context it means 'Non-academia, Non-government'. Engineering industry mostly in the case of physics degrees, although some end up on wall street in econophysics.

Mickey

I'm sure there are some private academic institutions that offer what can be consisdered private sector work.

Econophysics? Say more!

Manchot

As its name implies, econophysics is using the principles of physics to study economics. (Many economic systems can be modeled using the principles of statistical physics.)

Mickey

I thought it might just be a job where physicsists offer their insight into the growth of technology and help investors decide what technology companies are likely to succeed. What you said sounds way cooler, though.

franznietzsche

Its basically a outgrowth of statistical mechanics.

Pythagorean

On another forum I frequent, a political science major, who's also well versed in economy (naturally) was somewhat jokingly telling me that once I saw no money in physics, and lost romanticism for it, I'd accept an econophysics job.