Results of the American Institute of Physics' 1985-86 annual survey of bachelor's degree recipients in physics and astronomy are reported. Data are presented in tables, with accompanying narrative analysis. The information on physics students includes: trends in postbaccalaureate plans of successive graduating classes of physicists from 1977-78 through 1985-86; characteristics of new physics degree recipients (sex, citizenship, age, minority group membership, transfer from a junior college, double major, type of undergraduate institution), presented by intended postbaccalaureate activity (physics or other graduate study, employment, or undecided); comparative high school physics preparation for men and women; postbaccalaureate plans by minority group; trends since 1975 in undergraduate physics students without high school physics preparation; foreign and American minority group student plans and characteristics (sex, age, region and type of bachelor's institution); sources of anticipated support for first-year graduate study; change in numbers of job offers at graduation for the summers of 1975 and 1980-86; initial employment; starting salaries, by sex; and work activity and type of employer for new graduates. Similar but less extensive information is included for astronomy graduates. (MSE)