Before the Exodus? Young Scientists and the Future of US Science

Pierre Azoulay, Raffaella Sadun and Daniela Scur

No 35330, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Shortly after major policy changes to US science funding began in early 2025, we surveyed 916 young biomedical scientists – PhD students and postdoctoral researchers – about their career intentions and expectations. The results document a dramatic shift in sentiment. Barely half of respondents now say they are likely to remain in academia, down 22 percentage points from how they felt six months earlier. The fraction likely to stay in the United States fell by 21 percentage points. Even satisfaction with having pursued a PhD in science declined by 16 percentage points. These are not the complaints of established scientists defending their budgets, but rather the stated intentions of the next generation – the scientists who would, in ordinary times, become the principal investigators of the future.

JEL-codes: I23 O32 O38 (search for similar items in EconPapers)
Date: 2026-06
Note: PR
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