This post is in response to questions from various students about the typical steps in the career of an academic physicist (employed at a university). Below, I will summarize the experience at each stage. These comments only hold in general; of course there will be special exceptions.
High school: Many (but not all) of the students who end up becoming physicists become interested in the subject at this stage. This may be due to the enthusiasm imparted by a very good teacher, a supportive environment at home (books, radio or electronics sets, etc.), exposure to professional science (through programs run by nearby universities or research institutes).
The requirements at this stage are basically doing well in coursework, showing some excellence in science subjects (physics, mathematics, maybe chemistry).
College: Many institutions worldwide require incoming undergraduates to declare a major upon entry, although this is changing, especially in the US. Nonetheless, at some point, interested students have to pick physics as a major (sometimes accompanied by a double major, usually in engineering; or a minor, such as in mathematics).
This stage definitely requires a student to absorb many aspects of physics, including basic (e.g. mechanics and electromagnetism), intermediate (e.g. quantum physics) as well as advanced (e.g. solid state physics/astronomy) courses.
There is nowadays an increasing emphasis on research experience for undergraduates and it is not unusual to have a 'senior thesis' requirement for the bachelor's degree or even undergraduate students as co-authors in articles published in peer-reviewed journals. For this to happen, students need to work with a professor in the department.
University: Students who are interested in an academic career apply to graduate school for a PhD. Masters degrees are considered terminal (for those who are going to leave the academic line) and do not count for much for those who are continuing.
This is a long haul project (~ 5 years or more), testing the ability, persistence, and sometimes teamworking capacities of the students. After some initial coursework, they join a research group. At the end of the PhD they should have published a good number of papers (some of them in high impact factor journals), become trained in the techniques of the field, and capable of solving problems that cannot be solved in a day, week or month. It is a journey of intellectual, emotional and social growth.
Postdoctoral experience: Almost all academic physics jobs require post-PhD experience. This consists of 1-3 short term (2-3 years) appointments where physicists have to learn a new (sub)field and become productive in the area rather quickly.
The idea of postdoctoral training is to demonstrate the ability to scientifically succeed at a place other than the PhD; and to add tools to the toolbox which the physicist will use when they finally set up shop at their own permanent position. The work can involve supervision of graduate and undergraduate students, basically running the group for the hiring professor.
Assistant Professor: This job is not permanent. About 5 years are allowed in which the physicist has to secure research funding, publish papers, supervise students, teach courses and serve the department. This is an intense time in the career of a professor, with a lot at stake. When this pressure cooker timer rings, the university decides whether to grant permanent tenure and (usually) concomitant promotion to associate professorship.
Associate Professor: The professor typically extends their research interests, expands collaborations, writes books, effects teaching changes at the curricular level, and serves the community at a higher level than before. Typically this phase lasts for 5 years, after which the 'associate' is up for promotion to 'full'.
(Full) Professor: Those who are inclined to stay in research mainly now start on the track towards becoming true authorities in their field; they may become heads of centers and institutes. Those who are administratively inclined become department heads, then deans of colleges, then presidents of universities.
Retirement (or not): There is no official retirement age for faculty in the US; in countries where the retirement age is relatively early (~60-65) faculty often move from government to private institutes and prolong their careers. Some professors truly retire and give their time to family and/or hobbies and pursuits. Interestingly, many professors work till they die (because physics is so interesting!).
I am reminded in this context of a joke that Nobel laureate Bill Phillips often tells in his popular talks. He quotes the example of the two twins, one of whom stays on earth, while the other travels at relativistic speeds in a rocket. Since, according to special relativity, clocks run slower for objects that moved faster, when the traveler returns, he finds his twin has aged more than he has.
In Phillips' joke, the twins are both physicists, and when the traveler comes back he finds his twin is older, but still working, "Because," says Phillips, "That's what physicists do."
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