Given the recent focus on the employability and earnings of university graduates in the UK, there is a need to explore the employability initiatives offered by higher education institutions (HEIs). Work placements and work experience offered through HEIs aim to improve students' job readiness, and ability to secure suitable jobs after graduation, but little is known about the work experience opportunities available, who can access them, and their impact on individuals, institutions and employers. To address this situation, the Department for Education has commissioned this review of available literature on work placements and work experience in higher education in the UK since 2010, to explore the value that they offer to individuals, HE institutions and employers, focusing on the following research questions: (1) What approaches do universities currently take to improve employability of their students/graduates?; (2) What types of work placement/work experience opportunities are available to students in the UK?; (3) What benefits/costs are realised by students who undertake a placement/work experience opportunity?; (4) What benefits/costs are realised by institutions that encourage placement/work experience opportunities?; and (5) What benefits/costs are realised by employers that offer a placement/work experience opportunity?