The European Higher Education Area, which is based on competency acquisition, has led to changes in teaching methods and student evaluations. In this new context, placements represent the best university-business connection for the development of competencies and integration of students into the employment market. Therefore, the primary objective of this study is to construct and empirically apply a model to identify and assess the generic competencies of students in their learning. The study employs a sample of 351 student reports by professional supervisors of social sciences students who held two-year placements. Before testing the hypotheses, the measuring instrument was evaluated by means of a partial least squares regression. The results identify the extent to which students acquired competencies and the primary differences between both academic years. Useful information for teachers and professionals is provided in a proposed learning and assessment tool for placements.