I have to say I think the job statistics for science majors are a bit of a scam. Not that they're lying... they're just very, very deceptive.
For example, http://www.bls.gov/oco/ocos052.htm says that the median wage for physicists is $102,890. Wow, right? Good money! But you have to look reaaaaally carefully to find this little nugget:
Physicists and astronomers held about 17,100 jobs in 2008. Physicists accounted for about 15,600 of these, while astronomers accounted for only about 1,500 jobs. In addition, there were about 15,500 physicists employed in faculty positions; these workers are covered in more detail in the statement on teachers—postsecondary elsewhere in the Handbook.
So they're not counting professors, post-docs, or graduate students as physicists, even though those people are the ones doing the vast majority of physics research. Heck, even Albert Einstein wouldn't count as a physicist according to that measure. They are taking data from a very narrow subsection of physicists, and reporting that as if it's representative.
Or perhaps we look at http://www.aip.org/statistics/trends/reports/phds1later.pdffrom the http://www.aip.org/statistics/trends/reports/bach2010.pdf. They tell us that people with either a bachelor's degree or a PhD in physics have only a 4% unemployment rate, and that http://www.aip.org/statistics/trends/reports/emp2010.pdf of people with a bachelors degree get a job in a STEM field with a good salary. In this economy, that's fantastic! Economists would say that we're at full employment, so basically everyone who wants a job can find one quickly. There should not be any long-term unemployment except for very rare cases.
Except, again, we have to look at the fine print. Reading the survey methodology reveals that only 40% of new physics grads actually answered their survey. They do have data for 54% of new PhDs, but 31% of that came from their advisors rather than the PhDs themselves. Of course 40% is fine if this were a truly random sample... but it isn't. The people who voluntarily self-report will tend to be the people who have jobs that they can be proud of. I know that, for me, I didn't answer my university's career survey because I was too ashamed of being unemployed.
The best numbers I think come from
Andrew Sum. He used US census data, which is important because it tracks everyone. He calculated that only 67.9% of new physical science grads are employed (!) 11.4% were employed in jobs that don't require any college degree at all. The median wage was only
$14,607 or $20,687 depending on if you had a job that required a degree, which is frankly pathetic. Note that physical science majors earn less than almost
all other fields of study, including humanities.
I know I wouldn't have bothered to work through a physics degree if I'd been told employment data like that. Should have just learned programming instead. But of course the schools want to make sure they have a plentiful supply of new graduate students available to do all the research and teaching work for a paltry salary...
Looking at these misleading statistics, I can't help but be reminded of what's happening at law schools. Law students take on an outrageous amount of debt, because they think that once they graduate they'll make a high salary as a lawyer.
It turns out that the "official" statistics from law schools are utterly worthless. Some law school graduates end up swamped with debt that they are literally committing suicide. The law schools hide this with the same kind of basic methodology mistakes that the AIP does, like relying on self-reported data with a very low response rate. (Ironically, it's my training in science that teaches me to identify what a huge error that is! I wouldn't have understood when I was a freshman how important a random sample is.)
If you want to encourage students to study science, make sure you're giving them accurate and clear information that won't mislead them. If the only defense is "
caveat emptor- they should have done better research before they commited to this!" well that's pretty much the universal defense of scammers.