Within the UK, part-time study is now seen as important in meeting wider government objectives for higher education (HE) and for sustainable economic growth through skills development. Yet, measures to capture the impact of HE may not be wholly appropriate to part-time study. In particular, the continuing focus on tangible, economic measures may be down-playing, or even completely overlooking, other gains. Data from a longitudinal study of part-time students show that irrespective of whether graduates had changed job or employer, or had stayed in the same job, individuals reported substantial work-related gains from their HE studies. We suggest that current research questions that focus on job moves and progression within the labour market, may well be the wrong questions to ask to gauge measures of benefits/returns to HE. Further research is needed to develop measures to fully capture the social returns of skills acquisition through part-time study.