The purpose of this paper is to provide an overview of some of the key themes, perspectives and debates in the area of graduate employment/employability over the past decade. The paper will explore the wider context of higher education and labour market change and the policy framework that underpins graduate employability. It will draw upon various empirical data to highlight the different labour market outcomes and experiences of graduates in the UK and, where possible, in other countries. The paper will consider some of the conceptual notions that may help inform our understanding of the area of graduate employability, such as human capital, credentialism, personal capital, identity and work-based learning. It will also examine the perspective of employers and university educators on graduate employability and some of their approaches to the issue. The paper will finally consider some of the key considerations that future research in this area might need to address, and how the research agenda might need to be shaped in future years.