As in other European countries, the employability of graduates is at the heart of higher education policies in France. The question of the vocational drift of higher education has become an important issue through the creation of new degrees and the implementation of various measures (apprenticeships, etc.) aimed at developing the employability of graduates. The concept of employability promoted by current policies is part of the human capital theory where the aim is to equip students with a set of skills to facilitate their entry into the labour market. Based on a review of French empirical research studies, this chapter presents the effect of the vocational drift of higher education on the employability of graduates and the importance of considering graduates’ perspectives on employability.