I knew I wanted to be an architect when I was in 7th grade. I am one of the lucky few who still liked the job once I found out what an architect actually does, and everything it entails.
There are two main types of architecture programs - design-oriented and technically-oriented. Most colleges and universities will offer design programs, which will be filled with history of architecture, design studio classes, and art classes in addition to the usual distribution requirements, most likely including calculus and physics. Primarily the goal is to teach students how to develop a conceptual design process - they often get ridiculously theoretical and intellectualized, BUT, that's the hardest part to get a handle on, so they try to pound it into you while they can. It's mostly art, just working in 3-dimensional drawings and models that represent real buildings. This is the part that is very competitive in school. You are given a design task, starting with simple artistic compositions and working up over the semesters into designing schematic building plans, cross sections, and elevations to meet an assigned list of program spaces. Design project assignments may last anywhere from a few days to a month or more. You work on the design in class and after hours, usually in studios in the architecture building. You'll usually have a workspace to call your own and because of this, you'll be there A LOT. Like, 12 scheduled class hours a week for your main design class (in addition to all your other 4 or 5 classes). Then you'll be working a couple hours a night on the design projects, too, on a light night. As the deadline approaches, you'll be putting in more and more time - I've gone as long as 48 hours without any sleep and been drawing pretty much the entire time. To this day, 30 years later, I can still sit down and take a 20-minute nap (no more, no less) under almost any conditions. The issue is this: because it is a design class, not a regular research project or set of problems, it is literally NEVER done. There is always something that could be a little better resolved, a little better proportioned, a little more interesting. The trick is to figure out when it's good enough, which usually means you should have quit sketching and changing stuff and started final drafting about a day earlier than you did.
Then, instead of handing the project in and waiting for a grade, you have to present it. In public. On zero sleep. In front of your professor, your peers, and a panel of your professor's architect buddies. You have to take this thing you have been lovingly crafting for the last month or so, explain it and show it to everyone, and then wait while they criticize the hell out of it, discuss all your mistakes, and point out the obvious things you should have done better if only you'd thought of it.
Yeah, it's tough. Yeah, it's competitive. And, frankly, that's at least part of the point. The point is to wash out the untalented and uncommitted early on in the process so they can find a better way to spend their college education. Because the field simply can't support all the people who think it might be cool to be an architect, design schools have to be selective in who they graduate. Don't get me wrong, if you have moderate talent and perseverance, very few programs will actually DENY you… but they don't make it easy to get through. And they shouldn't, really. You need to learn how to design good stuff. There are a lot of crappy architects out there, and buildings cost a lot and last a long time.
Design schools will also have some technical classes that concentrate on building technology, construction, and basic structural engineering. The technical side is often minimal, however, which kind of leaves these students underprepared for work in the actual job market. That's where the heavy job market competition comes in - since a newly-minted graduate isn't much good for the technical side of the firm's output (which is, honestly, the bulk of the work), then students must be well-versed and talented in graphic design and conceptual design. That's what gets your foot in the door and makes a firm hire you, so they can train you in the technical side of construction detailing and putting together contract documents that are used to permit, bid, and build the project. So you need to show enough spark of talent and ability that they are willing to invest in you.
The other side of the coin is Architectural Technology programs. These reverse the proportions of a typical design program - you'll get some basic design classes, but the concentration will be on drafting (as opposed to drawing), physical construction techniques, light structural engineering, and HVAC/plumbing/electrical systems. There will also be courses on construction management, estimating, etc. These programs are much less time-consuming and competitive - not that the material is necessarily easier, but it is much less subjectively graded and therefore much more like a traditional academic program. In addition, graduates come out of school with a marketable skill. They are more likely to find an entry-level job in the industry, either at an architecture firm or a construction firm. It's not a bad career - I don't see this kind of program as second rate in any way - but its more like engineering than art. That suits some people better than the design programs do.
The vast majority of the architecture job is technical. Think of a building like a car. You can build beautiful, dynamic designs that are difficult to get comfortable in and leak a lot. Or you can build appliances that are decent looking, serve their function well, and are reliable and cost-effective. Just like the difference between a Ferrari and a Ford, they make a lot more of the latter kind than the former. Buildings are expensive and therefore in most cases, utility wins out over drama. The trick is to make buildings that are attractive AND efficient AND reliable, and that is the satisfaction that makes up for the mediocre pay and frequent long hours. There are very few rockstar architects, though there are a few. The good architects are the ones who make interesting buildings that aren't eyesores within a few years of completion (or immediately, for that matter).
Doing that requires a lot of knowledge in a lot of different disciplines, coupled with some artistic talent and skill in solving problems. It's a combination that has kept me interested - and employed - for 30 years or more. It's very rewarding to see your drawings take shape in the real world, and even moreso when you hear people say they like it.