In recent decades the proportion college-educated workers entering professional
occupations has declined. While the rising incomes of college graduates signals the growing
value of skills and education, it seems that these skills are increasingly put to use outside of the
professions. This paper examines the occupations of college graduates since 1950 and the
implications of these trends for the position of professional occupations. The results show that
while the economic rewards of professions remain high, a falling proportion of college students
aspire to enter the professions. Some college graduates have shifted to managerial positions, but
a substantial number also aspire to and enter positions outside of professional and managerial
work.