This is exactly my experience.
One of my old school friends (the least academic one) left school at 16 and took a job as an office junior.
My snobbish mother sneered at her lack of ambition, but she's laughing on the other side of her face now! Old school friend is now on the board of executives, earning well into six figures.
Another of my school mates left school at 16 to do an apprentice Hair & Beauty course. She's been working in LA for nearly 3 decades now, living a life that the rest of us can only dream of.
Meanwhile, us sensible ones who stuck in, went to university, and took no risks - we're the ones (to varying degrees) trying to make ends meet.
I tried to explain this thinking to my own DC1, now 24. He wasn't particularly academic, got "middling" grades at school - I tried to encourage him to think of other career alternatives outside of going to university.
But, he was absolutely adamant he wanted the "university experience", since all his friends were going.
So, he got himself on to a Sports Management course at an ex-poly, racked up nearly £40K worth of debt, and is now working FT in the pub he worked in while doing his Uni course.
He tells me now that he wishes he'd gone for a trade or an apprenticeship, and I've bit my tongue because I don't want to say 'I told you so'.