I am going to submit my PhD thesis within the next six months. My PhD is on managing the availabiity of large-scale distributed systems, so I have some experience actually building non-trivial systems (+ I have four years experience working as a programmer).

I am now trying to figure out what I should do following the PhD.

I enjoy research (a quick definition: identify problem, come up with solution, ask interesting questions, find ways to answer them, build system, experiment, contribute some new knowledge and publish). I also like teaching and supervising students. It would seem that a career in academia is the ideal thing to do (can work on non-trivial problems and contribute something of use to some or more people).

However, a career in academia has two significant drawbacks. First, it can be difficult to gain access to real systems with real users which then display real problems. This creates the danger that you do work that seems important (to you and maybe to some of your colleagues), but is not really relevant to anything or anyone. Second, the pay is pretty sad. Apparently, you have to sacrifice this for the privilege of doing research.

I enjoy programming, but don't just want to hack some web-based system for the rest of my life. That is, working in IT for a bank is not a future I see myself enjoying. I want to work on interesting problms (that's difficult to define clearly): things where you don't know how to start, that take some time to figure out and attack, that require a rigorous approach to demonstrate that the problem has been solved, and problems that need a solution in the real world.

Give the experience of people on stackoverflow, what do you think suitable options are and why (or alternatively, what gaps in my thinking does the above reveal)? Is industrial research (aka IBM Research, Microsoft Research) the only alternative avenue to a career in academia? What other areas, companies, occupations, etc. could provide me with stimulating, inspiring work? Which regions, countries am I most likely to find such work?

Please share your experience.