We examined the relationships between high school CTE participation and indicators of career and college readiness using 2009 High School Longitudinal Study restricted-use data. Regression analyses of 2009-2018 data revealed significantly lower dropout rates for CTE participants, but only White CTE participants experienced better employment likelihood. CTE participants were mostly employed in service or manual labor occupations with below average wages and were significantly less likely to attend a 4-year college. CTE benefits were disproportionate by race and gender, and participation may have a "cooling out" effect on the aspirations of some students. Advising and urban education implications are discussed.