The Postgraduate Certificate in Education (PGCE) has been a successful and popular initial teacher education (ITE) programme since the 1950s, with the masters level PGCE being successfully embedded within universities in England since 2007 and having high levels of student satisfaction. Recent White Papers, policy and reviews have undermined the academic award in ITE, however, favouring school-led initial teacher training and the minimum, essential professional award. Located within the Secondary ITE phase in two English universities, this article presents the value of studying education and the academic award at pre-service level via key stakeholder perceptions from interviews with teacher-educators and student-teachers within a case study. Findings highlight improvements to student-teachers' knowledge and practice; enjoyment in working at a higher academic level; improvements to the ITE programme overall, including student-teacher support and student-teachers' articulation of knowledge and practice; and enhanced opportunities for employability, career advancement and gaining a Master's degree.