A survey was conducted to examine the strength of beliefs among French school pupils in three perceptions of the education-labor market link traditionally studied in the economy of human capital: "productivity", "screening" and "credentialism." Male and female French students aged between 14 and 24 years responded to a paper-and-pencil questionnaire. The purpose of the study is by means of introducing the concepts of "productivity", "screening" and "credentialism" into the field of psychology of education to identify on the one hand the relative dominance of these three conceptions, and on the other hand to study each in relation to classical demographic variables and psychosocial variables such as academic self-evaluation, self-assessment of the range of vocational options and type of education and training sought by the pupils. Results indicate that students are more inclined to believe that the achievement of academic degrees acts more as a "screening" device and as evidence of achievement than a factor enhancing productivity in the workplace. It seems that the variability of the role assigned to education as regards employability depends on the students' social and academic standing and on the way they deal with it. (Contains 7 tables, 1 figure, and 1 note.)