This study compares the literacy and numeracy proficiencies of higher education (HE) degree holders in 21 OECD countries based on primary analysis of the national data sets collected via the OECD's Programme for the International Assessment of Adult Competencies (PIAAC) 2012 study. The differences in the graduates' average literacy and numeracy proficiencies amongst the OECD countries are substantial. Depending on the country, a smaller or greater proportion of a young highly educated age group does not have sufficient skills in literacy or numeracy to cope with many of the everyday tasks requiring the use of that skill. The PIAAC study challenges existing evaluation practices of the effectiveness of HE in fostering individual skills and puts into perspective the attempts to lift national average skill levels by increasing the HE sector's intake.