Life Chances is a unique longitudinal study that examines how family income, social class, ethnicity and gender affect the lives of individuals. The study began in inner Melbourne in 1990 with 167 babies and their parents. The families were from a range of ethnic backgrounds and had high and low incomes. Since 1990, each stage of the study has focused on different issues. This report from Stage 11 considers the impacts of advantage and disadvantage on young people’s transitions from education to regular or satisfactory employment. We explore how 37 young people, interviewed in their mid-twenties, made sense of their experiences of education and work, and the extent to which their opportunities shaped their perspectives.