However, in recent years, researchers who advise graduate students have begun to acknowledge careers beyond academia, including positions in industry, nonprofits, government, consulting, science communication, and policy. “We need, as academics, need to take a broader perspective on what and how we prepare our students,” said Ginther.
As opposed to faculty positions, some of these labor markets can be more robust and provide plenty of opportunities for those with a doctorate, said Daniel Larremore, a computer scientist at the University of Colorado Boulder who studies academic labor markets, among other topics. Whether there is a mismatch between the number of PhDs and employment opportunities will depend on the subject of study and which fields are growing or shrinking, he added. For example, he pointed out that there is currently a boom in machine learning and artificial intelligence, so there is a lot of demand from industry for computer science graduates. In fact, commitments to industry jobs after graduation seem to be at a 30-year high.
But not all newly minted PhDs immediately find work. According to the latest NSF data, students in biological and biomedical sciences experienced a decline in job offers in the past 20 years, with 68 percent having definite commitments after graduating in 2023, compared to 72 percent in 2003. “The dynamics in the labor market for PhDs depends very much on what subject the PhD is in,” said Larremore.
Still, employment rates reflect that postgraduates benefit from greater opportunities compared to the general population. In 2024, the unemployment rate for college graduates with a doctoral degree in the US was 1.2 percent, less than half the national average at the time, according to the Bureau of Labor Statistics. In NSF’s recent survey, 74 percent of science and engineering graduating doctorates had definite commitments for employment or postdoctoral study or training positions, three points higher than it was in 2003.
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