Two graduate follow-up studies were analyzed for factors predicting likelihood that a graduate would stay in-state or migrate out-of-state. Slightly more than half of the bachelor's degree recipients from the class of 1993-1994 were included in the first sample, and responses were received from 522 graduates. In the second survey, 717 graduates answered questions related to employment. Results indicate that the factors of work characteristics and environmental situations and original student source were significant in predicting the location of the student's first job after graduation. The graduate's academic discipline did not contribute to the predictability of migration. The study also found that graduates who took their first job out-of-state earned, on average, higher average salaries, even though pay was not a reported factor in predicting migration. Although students who came to the institution from out-of-state were more likely to migrate, only 38% of these students returned to their home state after graduation. Results of this study suggest that all students (from both in-state and out-of-state) graduate into a global marketplace, and decisions that they make to migrate or remain in-state may be based on the global players that offer them opportunity first. If a state wants to retain more of its graduates, it should put more focus on recruiting and developing economic opportunities for this skilled workforce. (Contains 10 tables and 23 references.) (SLD)