The transition from college to full-time employment was compared for graduates of cooperative education (CE) programs and regular baccalaureate degree programs. The focus was the relationship of CE participation to organizational socialization and power within the organization. Responses were obtained from graduates of mandatory CE programs, optional or selective CE programs, and regular degree programs. Scales were administered to assess the accuracy/realism of initial job expectations, the congruence between the needs of the employee and job requirements, employees' perceptions of the relevance of their jobs to their career plans, the strength of an individuals's identification with and involvement in a particular organization, employees' access to resources necessary to complete job duties, and the amount of personal power on the job perceived by the employee. Findings based on path analysis suggest that CE participants have significantly more realistic expectations about their first job after college than other recent college graduates. CE graduates who remained with their former CE employers were most likely to have realistic expectations. It is suggested that an understanding of CE student experiences may help organizations improve organizational entry and reduce turnover. (SW)