Irrespective of the grading system, grades are the most valid instrument for predicting educational success. Previous studies have shown that criterion-referenced compulsory school grades are multidimensional, reflecting subject-specific dimensions and a common grade dimension, both of which contribute to the predictive validity of grades. This suggests that in addition to knowledge and skills, grades reflect other aspects which might have importance for the prediction of educational success. The purpose of this study was to investigate, using structured equation modeling, whether norm-referenced compulsory school grades display similar patterns of dimensionality and predictive validity to criterion-referenced grades. Possible differences due to gender and parents' education were considered. Participants were 3855 students born in 1972. The results showed that norm-referenced grades are multidimensional, and that both the subject-specific and common grade dimensions contribute to predicting educational success. In the common grade dimension, girls and students with higher educational backgrounds were favored.