To graduate or not. Does it matter?

A representative Dutch sample of about 1500 workers is analyzed for the effect of graduation on allocation (job level attained) and on earnings. Results differ between allocation and earnings and among types of education. For some types of education, there is clearly no evidence of screening. For some secondary types of education, a sequential information model is supported. As for higher vocational and university education, the evidence supports the gradual skill-augmenting view.