I value my privacy and share limited information with the world and little more with my friends. Facebook got better on the privacy issues but still it requires custom configuration to limit the access to the personal information to friends only. Certainly, there are examples where the Facebok was used to check on job candidates. Recently, even teachers have not escaped either as per following article. http://www.metro.co.uk/news/853472-facebook-photos-could-cost-teachers-careers
So what settings I use?
As you can see I use Custom settings and set everything to Friends only, hence no information is available even to friends of my friends.