Here is the breakdown for the quants at the bank I worked for in 1995-1999 (I may have forgotten a few people):<p>Cornell physics PhDs: 3<p>Harvard physics PhDs: 2<p>Princeton physics PhDs: 2<p>Univ of Penn physics PhD: 1<p>Other physics PhDs: 2<p>Cornell applied math PhD: 1<p>Other applied math PhD: 1<p>Cornell mechanical engineering PhD: 1<p>Univ of Chicago finance PhD: 1<p>So, if by &quot;dropout&quot; you mean that they didn&#x27;t complete their PhDs, then no, that&#x27;s wrong.  If by &quot;dropout&quot; you mean people leaving physics, then yes, it&#x27;s very common (especially for theorists -- all physicists on the list above where theorists except maybe one or two).