The graphic design industry has moved beyond its traditional focus on printed matter to deliver multidimensional communication projects involving diverse audiences and media channels. No longer a skills and service industry, graphic design increasingly informs business strategy and innovation processes, requiring heterogeneous expertise, a rigorous design process and the ability to work in multidisciplinary teams. This shift raises the question of the relevance of a traditional design portfolio in demonstrating employability, especially when employers prioritise generic over disciplinary and technical skills. Our article reports the results of a survey of 53 Australian employers of graphic design graduates on the role of the portfolio in evidencing design-specific and more general employability skills, capacities and attributes. The article provides a deeper understanding of the role of a portfolio in the transition to work. We argue that graphic design graduates need 'portfolio literacy'--which combines insight in the curation of the portfolio and its use in interview performance--to demonstrate both core graphic design and creative skills and capacities in communication, collaboration and problem-solving. This significant know-how is best developed during graduates' tertiary studies.