I've got a degree in Chemical Engineering from UC '05, Turboed is right, its tough, and it teaches you how to either find a solution to your problem, or make one. As for what you can do afterwards, its pretty much anything, if you want a more hands on career, theres something out there for you, if you want more design work, theres places for that too.
I've had a wide array of different assignments from co-op and full time after graduation.
I worked as an Environemental Engineer at the Honda Plant
as a Process Engineer at Millennium Chemical up in Ashtabula
as a Engineer at Loreal in NJ doing everything from redesigning the warehouse to working on the manufacturing systems transfer to SAP.
now I work as a Validation Engineer for a pharmacuetical company (high potency & hormones), working on plant scale research batches as well as solving process issues.
So I mean with an engineering degree you can pretty much go in tons of different directions.