Transfers, or changes, between programs/institutions by higher education students are discussed from viewpoints emphasizing the positive effects of these transfers over the negative effects. The extent to which program/institution changes occur in a student population can be interpreted to reflect the structural possibilities for individual students to use higher education in ways more personally suitable for them, as well as to reflect the adaptation of students to changing market conditions and the attempts by students to improve their own marketability. In essence, program/institution changes can be regarded as inevitable when considering the realities of mass higher education and the knowledge society. This study discusses program/institution changes looking at higher education-to-work transitions and graduate employability. Two national higher education systems, the Finnish and the British systems, are discussed as exemplars of varying structural incentives to change one’s program/institution as a means to improve one’s future labour market position. Empirical study of Finnish and British graduates from the year 2000 supports the assumption that the more coordinated higher education system in Finland provides greater incentives for program/institution changes in comparison to the more market-oriented British system.