Doctoral attrition and the post-PhD “brain drain” are persistent shocks to the research pipeline. Drawing on the Doctoral Demands-Resources (DD-R) framework, we used quantitative ethnography to examine how 25 Australian PhD candidates narrate (a) persistence versus withdrawal; and (b) ambitions for a career in further research (CFR). Semi-structured interviews were thematically coded into six demands and four resources categories, then analyzed with Epistemic Network Analysis (ENA). Means-related ENA scores were regressed on dropout and CFR intentions while controlling for study mode, motivation profile, and candidature stage. Resources-weighted triads, such as Social Support, Informational Support and Support Network, characterized both persisters and CFR-aspirants. Conversely, demand-weighted triads, i.e., Workload, Exhaustion, and Lack of supervisory support, dominated the discourse among students considering attrition or apathetic about further research. Outcomes variables remained the strongest predictors of ENA structure after covariate adjustment. Findings extend DD-R by showing that the same motivational ecology underpins both near-team persistence and longer-term research-career identity. We outline practical recommendations: formalized peer hubs, supervisor feedback loops, and flexible policies for part-time or care-burdened candidates.