I see physics as a "liberal" education in technology. It prepares one to understand much of modern technology, and in the sense that a liberal education prepares one for life but not for a specific role in life, physics gives one access to the world (should I say the universe?) in a general way that goes beyond preparation for research or an academic or industrial career. The physics curriculum develops curiosity, observation, reasoning, mathematical analysis, verbal and written discourse, etc., and these can be applied to writing, teaching, business, engineering, research, diplomacy - to any endeavor.

I would say, using myself as an example, having a Physics background is a tremendous asset no matter what field one decides to go into. I really think that the problem solving skills I learned as a Physics major have helped me in my Engineering work. Also, since Physics is so fundamental to everything else (perhaps my view here is a little jaded?) there is no way to go wrong by learning Physics first and then moving up to other disciplines. ('Up' in the sense that 'C' is a higher level language than 'assembly'.) And now seems to be a great time for well-skilled scientists here in the Silicon Valley. The group I am in at IBM is concerned with magnetic disk media and most of the PhD's are from Physics/Material Science backgrounds.

Regarding the employment opportunities for physicists; I've found that physics offers a great deal of flexibility in choosing a career path. When I decided to return to the west coast and join IBM, I was also actively recruited by a teaching college, research university, national lab and I had a tenured position at Argonne if I had chosen to stay there. Presently, the job market is very strong for Ph.D.s.

Physics majors can certainly go on to do all kinds of strange things, even public policy and international affairs:

https://elliott.gwu.edu/pace

Physics training has been an invaluable aid throughout my career despite my grade in quantum mechanics. : >