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This article reviews critically a range of theoretical perspectives on school-to-work transitions. The argument is made that despite the complexity of the theoretical literature relating to youth transitions, certain strands or themes can be identified in the development of such perspectives. Theories previously based almost exclusively on socialisation and structures have been broadened to include elements of explanation based on individual choice and subjectivity. The individualisation thesis and postmodernist theory, for example, represent important developments in this respect, but more still needs to be done to incorporate dimensions of agency, choice and individual subjectivity into explanations of youth transitions.