Alverno College (Wisconsin), a women's liberal arts college, has developed an Alumni Career Level Classification (AACLC) scheme to measure alumna career advancement and demonstrate institutional accountability. This validation study was part of a larger longitudinal study of two entire cohorts of students entering the college in 1976 and 1977, of whom most were predominantly first generation college students from working class backgrounds who worked before, during, and after college. Validation of the AACLC scheme focused on positions reported 5 years after graduation by 243 working female graduates. The study created three types of variables to validate the AACLC: (1) two criterion measures, a position autonomy scale and a cooperative organizational thinking and action ability factor; (2) four secondary validation variables (e.g., annual salary and current level of education); and (3) two variables validating the scheme's consistency, continuity in career area and causal modeling. Analysis found that the AACLC effectively measured career advancement and was anchored in meaningful definitions of career advancement for college graduates. The AACLC was found to be internally consistent in ranking position titles of alumna's colleagues in the organization. The AACLC demonstrated greater sensitivity to post-college career advancement than the socio-economic index in the fields of nursing, business and management, and education. (Contains 48 references.) (JB)