A study was conducted of post-graduation activities of 1974 graduates of the sixteen constituent institutions of the University of North Carolina (UNC). Data was gathered on what the graduates were doing one-and-a-half years after graduation. The study provided information about their employment situation, their job satisfaction and the general use of "underemployment," and their assessment of the effectiveness of the curriculum and of various services at their alma mater. Some of the findings include the following: (1) graduates of UNC institutions seemed to be well satisfied with their educational experiences and with their jobs; (2) the unemployment rate for UNC graduates is in the aggregate the same as that for young college graduates nationally; (3) significant and sizable earnings and employment differentials exist between male and female graduates; (4) bachelor's graduates of the five predominantly black institutions reported starting salaries either the same as or slightly higher than the salaries of graduates of the traditionally white master's-and bachelor's-granting campuses; (5) most graduates learned about their jobs either through direct contact with their employers or through friends and relatives; (6) about 16% of all the 1974 bachelor's graduates were continuing their formal education; and (7) students completing their baccalaureate degrees scored higher as a group on standardized tests than students who did not graduate. (BM)