This article provides an overview of the literature that contributes to the study of the key factors that explain the process by which university graduates enter the labour market. It is approached from the standpoint of the Spanish experience but also discussesother European initiatives. Understanding this process is paramount for the modernization of the university offering. The entry of university graduates into the labour market is characterized by complex and multiple interrelations of factors that include both contextual/social and individual/personal variables. This study argues that a multidimensional analysis of the process and the different variables involved contributes to the development of appropriate career plans and university employability strategies. The article focuses on discussing the personal variables that shape individual paths and presents an analysis of a number of categories and elements that are essential if the transition from university to the labour market is to take place successfully.