Brain drain has been a long-lasting phenomenon. It existed in the former Yugoslavia, and was affected by various factors, from political through economic ones to the attractive offers for advanced studies and work in scientific institutions or firms in developed countries. Some ad-hoc analyses were made concerning individual groups or periods, but there was no systematic monitoring and no complete and all-inclusive data. It is however possible to draw a picture showing trends in the--mostly one-way--movement towards highly developed countries. Therefore, the current study has a mosaic character, which--we hope--shall throw some light and try to explain brain drain in the academic circles of Serbia and Montenegro (former SFRY). As the Republic of Serbia represents the largest component part (about 90 percent), most of the data is about Serbia.