Physics Should I Pursue a PhD in Physics or Switch to EE?

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The discussion revolves around the decision to pursue a PhD in Physics or switch to Electrical Engineering (EE) after high school in Pakistan. The individual is attracted to Physics due to personal interest and potential funding opportunities for graduate studies, which require a commitment to faculty service post-PhD. However, concerns arise from an article highlighting the challenging job market and financial instability faced by physics PhD graduates, including personal anecdotes of hardship. While the individual values the prestige of a Physics doctorate, they also weigh the financial implications and responsibilities towards family. Ultimately, the decision hinges on balancing passion for Physics with practical considerations for future stability.
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I'm currently a high-school grad waiting for university admission decisions here in Pakistan (they are due in April/May). I have mainly applied to science/engineering universities and intend to do a BS either in Physics or Electrical Engineering. Now, the primary university I am applying to offers to fund graduate studies for Physics if one gets into http://lums.edu.pk/sbasse/content/list-of-selected-top-tier-universities and in exchange one has to become a member of their faculty for a number of years (usually about 3-5) after getting the doctorate.

One of the reasons I preferred Physics over EE is that (in addition to the fact that I am very fond of it) it will enable me to do my PhD in the previously unaffordable prestigious international universities in the above list via university funding. However, I just stumbled upon this article and have become a bit hesitant. Of course, since I am more like the anti-audience (if there is such a word) of the article and the writer himself suggests that graduate school be left "to people from India and China, for whom the prospects at home are even worse" (i.e me), I think a PhD in Physics will probably be better for me than most other options in my home country. However sentences like: "Can you support a family on that income? It suffices for a young couple in a small apartment, though I know of one physicist whose wife left him because she was tired of repeatedly moving with little prospect of settling down" and " I have known more people whose lives have been ruined by getting a Ph.D. in physics than by drugs." are a bit unsettling.

What is your opinion on the validity of this article? Do you think I should switch to EE instead? I am really fond of Physics and would like a doctorate in it from a prestigious university for self-satisfaction, but then I have to pay the college fees of my younger siblings later in life and would rather be middle-class than all-out poor.
 
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I don't know if anyone on here works for any of the well known defense companies of your country, whichever country you are from?? Also, if you choose to work in one, do you think the engineering education provide from your school would adequately prepare you for the job. What do I mean by that? Well if you work at say Lockheed Martin and you work in the latest iteration of a missile or if you work at Pratt & Whitney, they assign you to work in the team helping out with building the jet...
Hello, I graduated from undergrad a few years ago with a Major in Physics and minor in Electrical Engineering. I tried to get experience working on and testing circuits through my professor who studied Neutrinos, however covid caused the opportunity to go away and I graduated with no experience or internships. I have attempted to break into the engineering industry with no success. Right now I am considering going for a Masters in Electrical Engineering and I need advice on if this would be...

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