We present an in-depth portrait of the training, careers, and work of recent Ph.D. physical scientists. Use of specialized training varies widely, with about half often using knowledge of their Ph.D. specialty area in their jobs. The use of specialized training does not, however, correlate with job satisfaction. In this and other important measures, there are relatively few differences between 'academics' and 'nonacademics.' Important job skills for all employment sectors include writing, oral presentation, management, data analysis, designing projects, critical thinking, and working in an interdisciplinary, context. Rankings given by respondents of graduate training in some of these skill areas were significantly lower than the importance of these skills in the workplace. We also found that the rated quality of graduate training varies relatively little by department or advisor. Finally, although nonacademic aspirations among graduate students are fairly common, these do not appear to be well supported while in graduate school.