Economists and policy makers often emphasise the importance of human capital as a key determinant in the pursuit of economic growth. The highest formal qualification in the educational system is the doctorate, which is attained after the first stage of tertiary education at ISCED 6 level. Doctorate holders play a central role in research and innovation in any industrialised economy, with highly specialised knowledge and research capabilities acquired during their studies. However, their employment depends on the availability of suitable positions on the labour market. Despite huge demand for relevant employment data for this particular group, the available data in most countries is scant. The data collection on Careers of Doctorate Holders (CDH) initiated by EUROSTAT, the OECD and the UNESCO somewhat clarifies the professional situation of doctorate holders. This article presents some key findings of the Austrian CDH data collection carried out in 2006-07. The results are, amongst other things, that in Austria the general employment situation of doctorate holders is relatively good. However, they are faced with a shortage of adequate positions, especially in research. Often doctorate holders have to compromise between the intellectual challenge of working in research and the higher job security outside of research. The employment situation and the sectors of employment depend primarily on the field of science and technology of the doctoral degree. (Contains 12 notes, 8 tables, and 1 figure.)