One of the most vehemently discussed questions in the process of restructuring traditional long study programmes according to the Bachelor/Master model is how to develop first cycle curricula and degrees which are a meaningful preparation for a following Master programme as well as for the labour market--as stressed in the Bologna Declaration. It remains to be seen for which occupational levels undergraduate programmes will prepare and how these new degrees will be assessed on the labour markets in different countries in Europe. The article focuses on the employers' viewpoint, giving an overview of the assessment of Bachelor degrees in four countries: Austria, Hungary, the Netherlands and Norway. As it is a very early stage to provide in-depth analyses because so far there are hardly any Bachelor graduates on the labour markets, the article illustrates from a more analytical perspective what factors might influence their transition to the world of work and the development of their further careers. (Contains 1 table and 12 notes.)