Graduate employability in transitional economy

08012 - 23 p.This paper addresses higher education graduates' employability in Russia. We seek to find out what demands are placed on graduates by the modern labour market in Russia, in order to know how higher education should perform to prepare the employable professional. The transition from the communist economy to a labour market one generated important transformations on graduate labour market. A quasi-total abolition of the public regulating mechanisms in study to work transition, changes in social values and considerable mismatches between education and occupations bring about more demands for flexible workers. Under these circumstances, those graduates who acquired during their studies not only a deep field-related knowledge, but a wider set of professional competencies would better succeed on the labour market. It appears important not only to master a particular domain of knowledge, but also be able to acquire rapidly new knowledge, to manage others, to be able to negotiate effectively, to perform well under pressure, etc