Young people's participation in science, technology, engineering and mathematics (STEM) is a matter of international concern. Studies and careers that require physical sciences and advanced mathematics are most affected by the problem and women in particular are under-represented in many STEM fields. This article views international research about young people's relationships to, and participation in, STEM subjects and careers through the lens of an expectancy-value model of achievement-related choices. In addition it draws on sociological theories of late-modernity and identity, which situate decision-making in a cultural context. The article examines how these frameworks are useful in explaining the decisions of young people--and young women in particular--about participating in STEM and proposes possible strategies for removing barriers to participation. (Contains 1 figure.)