This week, thousands of University of Liverpool students donned their caps and gowns and headed to the Philharmonic Hall to receive their hard-earned diplomas.
But after all the pomp of the graduation, after the champagne has run dry and our graduates are nursing their hangovers, what next?
Some will be setting their sights on further qualifications, some on travelling, but the majority will be preparing to enter a turbulent, dog-eat-dog job market.
So what can they expect to be met with?
According to a survey of 1448 graduates, conducted by Endsleigh, only 43% of recent graduates found full-time employment in the career of their choice, whilst 6% found part-time work in their chosen career.
This left 22% of students in full time employment in a career they hadn’t previous seen themselves in, with a further 12% taking up part-time work in alternative careers.
An unlucky 15% said they were still searching for jobs, whilst 4% decided to go travelling.
Initial salaries leave a lot to be desired. The majority (39%) earned less than £12,000, with 9% receiving no money at all for their work. 29% earned a more respectable £19,000-30,000, whilst a lucky 3% earned in excess of £30,000.
Salaries showed a marked improvement after a year in work, with the percentage of people still doing unpaid work falling to 2%, and 53% of people earning in excess of £19,000.