There is a longstanding imperative from both government and industry for a workforce with the skills needed to drive forward the scientific and technological advances that are considered so crucial to the economic prosperity of the nation. However, the skills of this workforce have purportedly been both in short supply and inadequate for many decades, leading to the well‐established narrative of Science, Technology, Engineering and Mathematics (STEM) skill shortages. One solution to this challenge has been to encourage, through myriad policies and initiatives, more young people, particularly young women, to study more science for longer. This paper contributes to the literature on the supply of STEM workers by documenting the long‐term trends in the participation and attainment of girls and women in STEM education: from school science through to graduate entry into the highly skilled STEM labour market. Using population datasets that extend across seven decades and include millions of students, it shows that gendered patterns of participation in science subjects have varied little in recent decades, suggesting that efforts to increase the number of women studying science in school have not resulted in a substantial increase in well‐qualified female graduates entering highly skilled STEM jobs. Furthermore, studying STEM appears to be generally advantageous for men, in terms of field‐related employment outcomes, but is not always associated with such higher status occupations among women.