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Studies on children of immigrants have generally ignored distinct developmental trajectories during adolescence and their role in the transition to adulthood. This study identifies distinct trajectories in cognitive, sociobehavioral, and psychological domains and estimates their consequences for young adults. Drawing data from a nationally representative sample of 10,795 adolescents aged 13–17 who were followed up to ages 25–32, the study uses growth mixture modeling to test advantages for children of immigrants. The analysis shows a 1.5-generation advantage in academic achievement and school engagement, as well as a weaker second-generation advantage in academic achievement, but no disadvantage in depression for children of immigrants. In addition, these results hold for children of Hispanic origin. Theoretical and policy implications are discussed.