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This paper uses information on the occupational and income expectations at age 30 of people currently aged 20 years to assess whether they have a good picture of the impact of education and training on these phenomena. The implied education effects are compared with the patterns experienced by current cohorts of 30 year olds. In general, the young people appear overly optimistic about their future outcomes. They expect to work in much more highly skilled occupations and earn higher incomes than current 30 year olds. The relationships between education and both occupational status and income apparent for current cohorts of 30 year olds also hold in the expectations data. Expected occupational status and income generally increase with education and training level, with the pattern similar for young people from both low and high socio-economic status backgrounds. The exception to this consistency of the patterns in the expectations data lies with the income expectations of the least educated groups of males, who have no plans to undertake any further education or training. They have average expectations of incomes at age 30 that exceed those held by the likely most educated. For this group at least, it appears that better career information may play a role in assisting this group make better career and education and training participation choices.

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