Career opportunities for PhDs in the mathematical sciences have never been better. Traditional faculty positions in mathematics departments in colleges and universities range from all teaching to combined teaching and research responsibilities. Beyond those, a wide array of careers has now opened up to freshly minted graduates, in academics, industry, business, and government. It is well-understood that these all require somewhat different preparations for PhDs to be competitive. This commentary compares and contrasts mathematics graduate programs with Ph.D. programs in the life and biomedical sciences, which are structured in a way that allows considerable customization around each students career goals. While these programs may not be appropriate templates for the mathematical sciences, they have some features that might be informative. This commentary is intended to add perspective to the ongoing discussion around PhD training in the mathematical sciences. It also provides some concrete proposals for changes.