This study examined four cohorts of recent college graduates--those who earned BA or BS degrees while working full-time, those who earned the degrees in continuing education, those who earned the degrees while working part-time, and those who earned an advanced degree while working full-time--to determine whether the jobs they obtained after graduation actually required the degree they recently completed. Findings obtained from approximately 1,500 recent graduates revealed that 31 percent were in employment not requiring a degree; graduates in positions not requiring a degree were more likely to graduate from Arts and Letters, Social Science, and Human Ecology programs; graduates in positions requiring a degree had significantly higher salaries than comparable graduates in employment not requiring a degree; grade point average was not a deciding factor in employment status; experiential learning through internships was more prevalent among those with degree-required positions; those in degree-required positions indicated that their academic major and job were highly related, whereas the opposite was true for those in jobs not requiring a degree; job title did not adequately distinguish between groups; a higher percentage (over 75 percent) of graduates in non-degreed positions remained in Michigan to work; and 30 percent of those in non-degreed positions who remained in Michigan resided close to the University. Findings are detailed for each of the four cohorts in eight tables of data. (Author/CK)