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Purpose: the purpose of this paper is to understand how students perceive their future careers and how university has prepared them to enter the global labor market; student perceptions regarding benefits vs associated costs of pursuing higher education (HE) on employability and earnings; and the anticipated barriers and how to overcome these in pursuit of career sustainability within a career ecosystem. Design/methodology/approach: the authors adopted a qualitative method using semi-structured interviews on a small sample of 38 final year students from a UK university who were also participants in an earlier two-wave quantitative survey, which was conducted with 387 penultimate and final year undergraduates from the same UK-based University. Findings: findings revealed that undergraduates perceive their investment in HE to offer a net financial gain; however, this is narrowing due to increased tuition fees, associated student debt and interest payments eroding earning premiums. As undergraduates progress, they feel more employable from a personal perspective, but less employable from a market perspective due to competition for graduate jobs and the cost/benefit conflict of resources. Practical implications: the authors provide nine opportunities for enhancing the employability of graduates collaborating with graduate employers, providing a timely contribution to the social, political and economic debate on the funding of HE. Originality/value: the authors advance career theory via the new perspective of Career Ecosystem Theory by: explaining student career perceptions in terms of how university has prepared them for the global labor market; exploring the perceived costs vs benefits of pursuing HE in relation to employability; suggesting a two-dimensional model of personal and market factors of employability; providing a model of careers advice from employers and universities for supporting students’ careers; and offering policy implications in relation to the future funding of HE and employability of future graduates.
Donald et al. (Mon,) studied this question.