Data on the Y95 cohort (first interviewed in 1995 when in Year 9) of the Longitudinal Surveys of Australian Youth were analyzed to identify the effects of student employment on participation and attrition in secondary school and tertiary study and on young people's activities after secondary school. Working between 1 and 5 hours during Year 9 of secondary school had no impact on the likelihood of completion of Year 12. Participation in more than 5 hours of employment each week was associated with an increased likelihood of dropping out before the end of Year 12, especially for males. The more hours per week students worked, the more likely they were to drop out. Compared with their male counterparts, females who worked part-time during Year 9 were much more likely than to complete Year 12. Students who worked part-time during high school were 65% more likely to gain an apprenticeship or traineeship and 46% more likely to be in full-time employment rather than be unemployed after high school. Field of study has a major impact on dropping out. An inverse relationship between contact hours and dropping out was discovered. Participating in part-time work did not increase the odds of dropping out of tertiary study. (Twelve tables are included. The bibliography lists 31 references. Four data and analysis tables are appended.) (MN)