A major trend in Australia is the increasing proportion of the workforce with qualifications. By comparing the relationship between qualifications and occupations for various age cohorts we look at how this trend has changed the prospects of individuals with a particular level of qualification. We find that individuals with diplomas are particularly affected, with a diploma no longer being the entry qualification into high skill jobs that it once was. Finally, we explore the implications of this for vocational education institutional structures. (Contains 12 tables, 6 footnotes, and 8 figures.)