The present study analyzes processes of social mobility using data from the German Socio-Economic Panel (GSOEP). The use of growth curve modeling within a multilevel framework facilitates addressing issues raised in previous research by analyzing inter- and intragenerational mobility simultaneously. Findings suggest that social mobility is largely confined to early stages of career development, declining after graduation and vocational training and remaining comparatively unaffected by the further course of a career. The initial placement of individuals within the occupational system and their subsequent careers are strongly dependent upon respondents' own and their parents' education. Furthermore, different opportunity structures determine the occupational prestige at the beginning of a career. Overall, growth-curve modeling of occupational careers from a life-course perspective presents a promising approach to integrating and further developing the current state of research on social mobility.