This paper assesses the effects of changes in women's education and labor force participation on nuptiality patterns and their implications for fertility decline in Venezuela. Results show that together with delays in union formation, changes in women's education and labor force participation produced a different, more "modern" type of consensual union, which coexists with "traditional" consensual unions. "Traditional" consensual unions remain a substitute for formal marriage among women from rural origins with low levels of education and higher levels of work experience. "Modern" consensual unions appear to be an option for well-educated women of urban origins. As in developed countries, these unions assume the form of a trial period before marriage or an alternative to singlehood. "Modern" consensual unions are more unstable than "traditional" consensual unions and they are associated with lower fertility.