Designed to research and document whether monies spent on vocational training produce benefits for the recipients, this study involved a population of 857 Montana high school graduates of the classes of 1970 and 1971 who were between twenty-three and twenty-five years old at the time of the survey and who had been employed in Montana during at least a two-year period since their graduation. Their education/training divided them into three groups: (1) postsecondary vocational (PSV), (2) secondary vocational (SV), and (3) academic/general (AG). The focuses of the study were (1) graduates' perceptions of their training, (2) employers' perceptions of graduates' training, and (3) comparisons of graduates' perceptions of quality of life. Each of the three focuses was assigned variables to accumulate data for comparative analyses, the data being collected through telephone interviews, employer surveys, and mailout questionnaires. The data analyses showed that PSV graduates more than SV or AG graduates were satisfied with their vocational training, possessed attitudinal qualities employers seek in their employees, had a tendency toward feelings of depression, etc. Both PSV graduates and SV graduates appeared characterized by low esteem for academic programs and attaining higher incomes than AGs during the first five years following graduation, whereas AGs had higher esteem for academic programs and had more reliance on internal control of self. (Appended are the study instruments and documentation of study findings.) (VB)