1. Introduction
The transition from university to work is a pivotal phase
in graduates’ lives. Graduates exchange the familiar world of
education for the less familiar world of work. For most grad-
uates, applying for jobs after graduation is the first time they
get reliable information on the labour market value of their
credentials and whether their investments were worth it in
terms of getting the job they want.
Students who are concerned about their labour market
success will invest in the skills which will enable them to
take advantage of promising job opportunities. Students try
to acquire observable characteristics, such as a higher educa-
tional degree or work experience, which increase their skills
and/or reliably signal the skills they have to employers. Often,
students are faced with decisions which involve potential