Short-cycle higher education programs (SCPs), lasting two or three years, capture about a quarter of higher education enrollment in the world and can play a key role enhancing workforce skills. This paper estimates the program-level contribution of SCPs to student academic and labor market outcomes, and studies how and why these contributions vary across programs. This paper exploits unique administrative data from Colombia on the universe of students, institutions, and programs to control for a rich set of student, peer, and local choice set characteristics. Results indicate that program-level contributions account for about 60-70 percent of the variation in student-level graduation and labor market outcomes. Estimates show that programs vary greatly in their contributions, across and especially within fields of study. Moreover, the estimated contributions are strongly correlated with program outcomes but not with other commonly used quality measures. Programs contribute more to formal employment and wages when they are longer, have been provided for a longer time, are taught by more specialized institutions, and are offered in larger cities.