Key Data: Academia vs Industry

Less than 17% of new PhDs in science, engineering, and health-related fields find tenure-track positions within 3 years after graduation. NCBI
Generally, less than 20% of PhDs eventually become tenured professors, with many finding work in industry instead. Academia Insider
For engineering specifically, the average likelihood of securing a tenure-track faculty position is about 12.4% (roughly 1 in 8 PhD graduates), with a decline from 18.5% to around 11-12% in recent years. OUP Academic
The percentage varies by field: business (69%), social sciences (27%), humanities (22%), engineering (21%), fine arts (14%) and sciences (11%). Effectivealtruism
Studies show that depending on the discipline, as few as one-fourth and as many as one-half of PhDs get hired in academic jobs at all, and only about a third of these jobs are on the tenure track. Inside Higher Ed

Substantial salary differences exist between sectors, with a median salary in business/industry of approximately $142,000, compared with $93,000 in education and $120,000 in government (for full-time employed U.S.-trained science, engineering, and health doctorate holders). Nsf
In nearly every field except humanities and arts, median expected salaries for doctorate recipients in industry positions are higher than those in postdocs and academia. Nsf
According to 2019 data, recipients of a PhD in statistics have an average median starting salary of $140,000 when pursuing a job in industry, which is higher than business administration, economics, and engineering. Interview Query
Academia tends to offer lower salaries compared to industry, especially at the postdoc level where salaries can be as low as $50,000 a year, and it may take years before landing a tenure-track position. Academia Insider

Computer and information sciences have the highest median salaries in both education ($107,000) and private sectors ($179,000). Nsf
Those in mathematics and computer sciences, engineering, and non-science and engineering fields reported the highest median salaries in industry positions ($140,000, $110,000, and $117,000, respectively). Nsf
PhDs in STEM fields generally earn much higher salaries compared to those in humanities or social sciences. Engineering or computer science PhDs can earn over $120,000 in industry, while humanities PhDs may earn closer to $60,000. Academia Insider

67% of PhD students want a career in academic research, but only 30% stay in academia three years after graduation. HEPI
According to the National Science Foundation, only 3.5% of PhD graduates in science and engineering are in tenure track positions three years after graduation. Academia Insider
In computer science (2022-2023), there were 2,105 doctorates awarded while only 384 tenure-track professor positions were filled, with a 64.2% tenure success rate. Stack Exchange
U.S. institutions increasingly rely on faculty with contingent appointments, rising from 47% in 1987 to 68% in 2021. Higheredtoday

In computer science, industry positions at major tech companies often involve standard 40-hour work weeks, while PhD students and academics frequently work 60+ hours weekly to maintain competitive publication records. Stack Exchange
Academic positions offer more research freedom, with professors typically reporting to supervisors only once or twice per year. Stack Exchange

PhD students feel well trained in analytical (83%), data (82%) and technical (71%) skills, but less confident in managing people (26%), finding career satisfaction (26%), applying for funding (22%) and managing budgets (11%). HEPI

There is strong evidence that advanced education levels are associated with higher salaries, with individuals holding graduate degrees earning an average of 38.3% more than those with only bachelor's degrees in the same field. Msu
U.S. Bureau of Labor Statistics data shows those with a bachelor's degree average 50% more earnings per week than those with just a high school diploma, while those with professional degrees earn about 39% more than bachelor's degree holders. Bankrate