Physics Major: Salaries & Future Outlook

[quadraphonics]

The spread in salaries between physics professors and other professors is not, from what little I know, so great as to make the data useless.

Speaking as someone who has a lot of friends who recently completed PhDs in physics and engineering got jobs as professors in California, I can assure that the data is not representative. Take out all of the humanities and arts professors (you know, those fields where you actually have to *pay* to get a PhD, and so only attract independently-wealthy trust-fund kids?) and the numbers go way up. It's simple economics: you can get almost six figures right out of grad school in the private sector, so if professorships in science and engineering don't pay something comparable to that, there won't be any science or engineering professors. This is not true of most other academic fields, and so the overall averages are much lower.

 

[Locrian]

The spread in salaries between physics professors and other professors is not, from what little I know, so great as to make the data useless.

You're incorrect. The median physics professor's salary is significantly higher than just about any professor's salary in the humanities, for example. They tend to be lower than many salaries in the business department.

Therefore without appropriate weighting the median salary for all professors at a university tells you almost nothing useful about the median salary that physics professors make at that same university.

 

[Locrian]

Sorry, I didn't spot Quadraphonc's post or I wouldn't have bumped the thread.

So on another note, there's a quadraphonic stereo system at one of my families vacation houses, with all four speakers.

I've never seen it used. :(

 

[quadraphonics]

Yeah, good luck finding any actual quadraphonic recordings to play on it, even with a six-figure salary.

 

[Blank101]

Smart advise my professor told me.

"Do what you love regardless of how much money is in between, and do it well, and money will follow u"

 

[Ms Music]

I just wanted to add a different perspective on the subject of money. I *DO* make 6 figures, but not in physics. I always regretted not going into physics (thats why I am here - to satisfy my craving). There are many days that I could walk away from my job and cushy salary. I don't enjoy it. I wish I could snap my fingers and get a job in physics for half my salary. Being rewarded well for what you do is nice, but doing what you love and getting rewarded (even if less $) is better.

If you are good at physics and really enjoy it, go for it. Work your behind off and be the best you can be and you will be rewarded by what you do. And the money reward should follow in time, too. :)

 

[robphy]

I just wanted to add a different perspective on the subject of money. I *DO* make 6 figures, but not in physics. I always regretted not going into physics (thats why I am here - to satisfy my craving). There are many days that I could walk away from my job and cushy salary. I don't enjoy it. I wish I could snap my fingers and get a job in physics for half my salary. Being rewarded well for what you do is nice, but doing what you love and getting rewarded (even if less $) is better.

If you are good at physics and really enjoy it, go for it. Work your behind off and be the best you can be and you will be rewarded by what you do. And the money reward should follow in time, too. :)

I recently heard the story of a faculty member (in computer science, i believe) who had given up his industry job making big bucks in order to take a faculty position as a professor in a small college, which he loves, in spite of making a fraction of what he used to make.

I know of another faculty member who used to work for a big tech company... but was cut due to layoffs. Anticipating the layoff, he was able to connect with a research university and complete his PhD and, after he was cut, worked his way into a faculty position in physics there, which he enjoys.

So, if you look around, you might find a non-traditional route [back] to academia.

 

[quadraphonics]

Along those lines, I've known engineers making six-figure salaries that left their careers to become high school math teachers, making chump change. I've also known people in similar circumstances drop everything and go into medical school at age 55 (not that medicine doesn't pay well). So, think twice about abandoning your passions; many people are happier with less money and a more fulfilling career.

On the other hand, many people seem happier with a large paycheck, and damn everything else. Think carefully about which type you are, although it's comforting to know that you stand to get paid reasonably well in science or engineering.

 

[jtbell]

Take out all of the humanities and arts professors (you know, those fields where you actually have to *pay* to get a PhD, and so only attract independently-wealthy trust-fund kids?)

My wife has a Ph.D. in German. She didn't have to pay out of pocket for it, but lived off teaching assistantships and some work she did for her dissertation advisor. Most or all fields have introductory-level courses that are usually taught by grad students at larger schools.

 

[cornelpa]

Domnu, I'm a business attorney, and I can give you an intelligent answer. First off, if you mow 10 yards, you'll make more than if you mow only one - because you're providing more service that meets the demand of society - meaning, when you maximize your profit, you're maximizing your productivity for society. If Americans aren't productive enough, we'll have to keep importing our experts from India. So, congrats on being ambitious and motivated wanting to make $100k. Now, as to your question - I would strongly advise to NOT major in physics. Instead, major in electrical engineering. I have met a number of individuals with a PhD in EE who made over $1 million a year, and I have met EEs with a bachelors who were worth 5 million in their older age. EE is the best of the 3 computer majors (the 3 computer majors are computer science, computer engineering, and electrical engineering). In the U.S., it seems that half of the men from India and half the men from the Middle East who live here major in EE, because it's the best. I have known of physics majors who then get a masters degree in EE because they can't do much with a physics degree. I see plenty of "patent attorney" jobs for EEs, but I see none for physics majors. Physics and chemistry is too much classroom theoretical math problems on a chalk board and not enough practical how to build and produce stuff (which is what matters to society). Don't get a chemistry degree, get a chemical engineering degree, and you'll make $30,000 more per year and quickly move up the ranks of a company. Don't get a physics degree, get an EE degree. Physics majors do sometimes get hired at military facilities, such as research facilities that do the more secretive laboratory work. But usually physics majors are limited to just military facilities. EEs can work there, or work in industry in computer jobs, or with electrical companies, electronics, the medical field, etc. San Francisco (and the suburb Silicon Valley) have been known for EE for the past 40 years. Apple computer and Intel are both headquartered there. I have been around plenty of medical professionals, EEs, the other 2 computer majors, and a few chemical engineers who make well over $100,000 but I have never met a physics major who did. All of the engineering and computer majors have to take up to Calculus 4 in college (except computer science usually goes to Calc 3). All engineers and computer majors take 2 semesters of physics in college, and one semester of chemistry (except chemical engineers take several more chemistry classes). When I graduated from law school, the students who started off making over $80,000 were the ones in the top 5% of the class, and the several students with computer degrees. Plenty of the ones with a political science degree worked at two-person law firms making only $10,000 or $20,000 per year. So, 10-page papers are replaced with one-paragraph emails, paper is replaced with computers, English majors are replaced with computer majors, ovens are replaced with microwaves, and EEs are the present and the future (although you could argue that "biomedical engineering" is becoming more of the future over the next 10 years, but that's very iffy). So, I don't see job postings for chemistry or physics. What chemical engineering is to a chemistry major, that's what electrical engineering is to physics. Hope that helps. The most employable engineering majors right now are mechanical engineering and EE, but I haven't met any mechanical engineers who made over $200k. I majored in accounting, and an accountant with only an associates degree never makes more than $60k, but I've met plenty of people with just an associates degree in computers who eventually make $150k up to $1 million a year, and EE is the best computer major. Accounting was also more about keeping track and recording money than actually learning how to build and produce and make stuff (which allows you to make money). Steve Jobs (one of the founders of Apple Computers) has a high school degree, but spent his years growing up studying electrical engineering topics. Also, bill Gates just has two years of college. If I had to do it over, I would have majored in EE (but go to a college known for engineering and computers, such as University of Cincinnati). Don't go to a college that most people haven't heard of, or else you'll have a much harder time getting hired at larger companies and you might make half as much in your lifetime. Hope that helps.

 

[twofish-quant]

Along those lines, I've known engineers making six-figure salaries that left their careers to become high school math teachers, making chump change. I've also known people in similar circumstances drop everything and go into medical school at age 55 (not that medicine doesn't pay well). So, think twice about abandoning your passions; many people are happier with less money and a more fulfilling career.

On the other hand, if you work in the trenches for ten to fifteen years, you should have enough money in the bank so that you can do something that pays nothing.

My plan is to work for another ten to fifteen years, put money in the bank, pay off my mortgages, send the kids to college, and after all of that I can spend the rest of my life studying supernova.

On the other hand, many people seem happier with a large paycheck, and damn everything else. Think carefully about which type you are, although it's comforting to know that you stand to get paid reasonably well in science or engineering.

Also there are a lot of different measures of wealth. It's not that hard to find "broke millionaires." If you make $100,000/month but are spending $200,000/month, then you'd end up much less wealthy using my standards of wealth.

 

[twofish-quant]

Now, as to your question - I would strongly advise to NOT major in physics.

I disagree. If you don't have any interest in science and engineering. don't go into physics. On the other hand, if you are interested in physics, don't assume that you are going to be living in a cardboard box with your degree.

I have met a number of individuals with a PhD in EE who made over $1 million a year, and I have met EEs with a bachelors who were worth 5 million in their older age.

And I personally know people with astrophysics Ph.D.'s that make $1+million/year.

San Francisco (and the suburb Silicon Valley) have been known for EE for the past 40 years.

Sure, but the big paying jobs for physics majors tend to be East Coast. Don't assume that lions don't exist just because you don't see them in Iowa.

I have been around plenty of medical professionals, EEs, the other 2 computer majors, and a few chemical engineers who make well over $100,000 but I have never met a physics major who did.

May I introduce myself to you?

 

[jtbell]

Domnu, I'm a business attorney, and I can give you an intelligent answer.

It's a good idea to check the date on a post that you found in a Google search or whatever, if you intend to respond to it. According to Domnu's profile, his last activity here was apparently in October 2009.

 

[Ryker]

It's a good idea to check the date on a post that you found in a Google search or whatever, if you intend to respond to it. According to Domnu's profile, his last activity here was apparently in October 2009.

Ah, don't blame the man, jtbell, he just came here to give an intelligent answer, that's all

 

[TMFKAN64]

(I'm an aspiring physicist, currently in the computer industry. I fully expect to take a 30-50% paycut if I do manage to switch fields.)

From Apr24-08, 04:29 PM. Hee.

For the record, I'm now at a national lab. And the paycut was 30%.

 

[kalakoi]

I disagree. If you don't have any interest in science and engineering. don't go into physics. On the other hand, if you are interested in physics, don't assume that you are going to be living in a cardboard box with your degree.



And I personally know people with astrophysics Ph.D.'s that make $1+million/year.



Sure, but the big paying jobs for physics majors tend to be East Coast. Don't assume that lions don't exist just because you don't see them in Iowa.



May I introduce myself to you?

But you work in finance twofish-quant!

It doesn't count for what comelpa is talking!

And by the way!The astrophysics Ph.D you know works where?

 

[carlgrace]

From Apr24-08, 04:29 PM. Hee.

For the record, I'm now at a national lab. And the paycut was 30%.

I'm at a national lab too, after 7 years in the semiconductor industry. I did a bit better than you... my pay cut was closer to 20% haha.

 

[ecneicS]

Point is Domnu, your degree doesn't define your career. You do.