Graduate employability has become an issue in Vietnam since many university students do not satisfy the needs of employers. Universities often receive the strongest criticism on the poor employability assets graduates possess. The ill-preparation of university graduates is considered the result of the out dated and irrelevant curriculum in the higher education system, of the traditional teaching methods and the absent of career guidance in most universities. This article, however, aims to challenge this common criticism that university is to blame for the ill-preparation for employment of its graduates. By conducting a qualitative research inviting the voices of both students and employers on the issue, this article wants to address a wider context and circumstance and also the related issues surrounding the transition from university to work of Vietnamese university graduates. It suggests that not only universities, but also students, employers and other related stakeholders (i.e. student's family, government and educational policy makers) should acknowledge the changes in society, should be aware of the cultural features at work, and should see their responsibility in the process. They all should make an effort to create mutual understanding, to collaborate and to enhance the development of graduate employability in the Vietnamese context.