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The process of transition from university undergraduate to business professional is a crucial stage in the development of a business career. This study examines both graduate and employer perspectives on the essential skills and knowledge needed by marketing professionals to successfully perform their roles. From in-depth interviews with 14 graduates and 14 employers, it is apparent that the transition trajectory is both diverse and dynamic. The first main finding is that the transition from marketing graduate to employee is marked by a lack of skills to organically “fit the organization.” Another finding is related to specific competencies such as the ability to have and, most importantly, apply marketing knowledge. These findings have strong implications for the development and redesign of curricula to produce highly skilled, employable graduates and to assist universities in retaining a competitive advantage within the tertiary sector.

Despite the claims of efficiency wage theory, there is surprisingly little direct evidence that firms that pay higher wages have lower turnover rates than otherwise similar firms. This study uses data on 205 child care establishments to examine the influence of wages, fringe benefits, and the dispersion of wages within a skill class on establishment quit and fire rates. We separately examine one high‐skill group (teachers) and one lowskill group (teacher aides). While we find that wages (alone) significantly reduce establishment quit and fire rates, the effect seems too small to be consistent with the efficiency wage hypothesis.

This article uses a longitudinal survey of registrants for the Graduate Management Admission Test (GMAT) to compare the gender wage gap among MBA recipients with the gap among nonrecipients. We find evidence that the gender wage gap is lower among GMAT takers who obtained the MBA than among those who did not. This suggests that women with advanced degrees may face less discrimination in labor markets.

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