A study is reported which focused on career formation including ways in which perceptions and expectations are modified by changing economic and social conditions. Chapter 2 overviews the twenty-three tables in this report which highlight results of analysis of data from two Institute for Demographic and Economic Studies, Inc. surveys and the American College Testing Program base-year survey. The next four chapters discuss findings related to (1) labor market and educational experiences, (2) perceptions of career and training opportunities, (3) future earnings expectations, and (4) marital and fertility decisions. Chapter 3 discusses tables examining how respondents found their first jobs, likelihood of year-round employment, level of earnings, and job satisfaction. Tables in chapter 4 focus on sources of information on schooling programs, financing schooling, amount of investment, and benefits from these investments in the labor market/occupational goals. Chapter 5 examines determinants of earning expectations and career goals and patterns of changes in these plans. Tables in chapter 6 examine impact of labor force participation of women's mothers on these decisions; and interaction between fertility plans and women's decisions about careers. Chapter 7 makes suggestions for future research. (YLB)