Student outcomes at Australia's technical and further education (TAFE) institutes were compared to those at Australian universities. The study was based on data from a survey completed by 39,426 individuals who had graduated from TAFE courses in 2000 and a survey of the more than 150,000 individuals who graduated from an Australian university in 2000. Key findings were as follows: (1) 77% of TAFE graduates and 66% of the university graduates found jobs, as compared to the nationwide employment rate of 61%; (2) TAFE graduates found employment in a broad range of occupations, with some concentration as tradespersons and related workers, whereas university graduates were concentrated in relatively few occupations, particularly professionals and associate professionals; (3) TAFE graduates' earnings varied considerably and were generally lower than those of university graduates; (4) male and female TAFE graduates had average weekly earnings of $491 and $433, whereas male and female university graduates' weekly earnings averaged $711 and $651; and (5) 90.3% of TAFE graduates were working or in further study and 28.6% were both working and in further study, whereas 92.6% of university graduates were working or undertaking further study and 6.5% were both working and in further study. (Ten Web site addresses are listed.) (MN)