This paper reports the further testing of a research instrument to examine the expectations and self-perceptions of employability of business students at post-graduate level, building on previously reported research with undergraduates [Rothwell, A., Herbert, I., & Rothwell, F. (2008). "Self perceived employability: Construction and initial validation of a scale for university students." "Journal of Vocational Behavior", 73(1), 1-12]. On this occasion the scale was again found to have a good internal reliability coefficient (alpha = 0.84), and discriminant validity from university commitment. Forcing a four-factor solution found components relating to the university's reputation, individual self-confidence and proactivity, external labor market factors, and finally the individuals' engagement with study and academic performance. For this multi-cultural post-graduate sample, perceptions of employability were good, but within that they placed significant emphasis on the brand and reputation of the university. Results indicate the potential for further studies with refined scales, particularly the combined scale of employability and ambition. (Contains 3 tables and 2 figures.)