Much research into the reasons students undertake tertiary study is at least implicitly based on rational choice theory: students calculate costs in order to maximize direct individual gain. The policy emphasis on pathways has somewhat broader bases including social inclusion as well as economic productivity, but narrowly focuses on institutional arrangements within education to facilitate upward transfer within fields of education. This paper critiques such assumptions using findings from the NCVER-funded project "Vocations: post-compulsory education and the labour market." The focus here is on the reasons for study evident from the ABS Survey of Education and Training and from interviews conducted for the vocations project. Using the survey multiple reasons for study are related to the sector studied in and whether field had changed between qualifications. While VET study is associated with skills development in existing careers and higher education is associated with new careers and general interest and education, these differences are not absolute and are considerably less for second qualifications. Relating these findings to interview data suggests that student choices intertwine social, educational and labour market factors, even if the latter may be overarching. It is argued that a broad focus on capabilities and vocations could better foster the multifaceted development that students seek from education and work.