A primary focus among colleges implementing student success reforms has been to increase overall rates of completing any credential and to reduce racial and socioeconomic equity gaps in such completion rates. The focus on general completion may overlook inequities in the type of program students complete, which is particularly significant given the wide variety of credentials offered at community colleges and the resulting variation in labor market returns among completers. Our study examines racial/ethnic stratification among community college students as they enter and progress through programs leading to higher or lower opportunities in the labor market. Using a discrete-time survival analysis and longitudinal enrollment and transcript data. We track enrollment, completion, and transfer for up to 9 years. We also measure achievement of academic milestones (such as credit accrual) along educational pathways associated with higher rates of credential completion and transfer over the long term. Results suggest that a significant gap in the likelihood of bachelor's degree completion between Black and White students emerges episodically, while the gap between Hispanic and White students develops earlier and remains consistent over time. Results also suggest that, while all students generally benefit from attainment of academic milestones, doing so disproportionately benefits Black and Hispanic students.