This book describes the experiences of a series of five nationally representative cohorts of young people reaching school-leaving age between 1986 and 1993 who were surveyed as part of the continuing England and Wales Youth Cohort Study. The cohort study charts the path taken by young people over the first 3 years after compulsory education. Part 1 introduces the issues and context. Chapters 2-4 in part 2 on full-time education explore the main options presented at age 16; minority routes; and choice of subjects, especially science and mathematics. Chapters 5-6 in part 3 routes describe the structure of the youth labor market and examine work-based options for training. Chapters 7-8 in part 4 look in detail at the factors that increase the probability someone will stay on in full-time education and assesses the contribution of the Careers Service and careers teaching to decisions about staying on, courses, and destinations of those who enter the labor market. Part 5 examines longer-term outcomes. Based on data collected more than 7 years after choices were made, chapter 9 compares pay-back from four major routes: full-time academic education, full-time vocational education, apprenticeships, and government training schemes. Returns are measured in three ways: qualifications gained, earnings, and chances of avoiding unemployment. The book contains 58 references and an index. (YLB)