This paper presents findings from Stage 4 of the Griffith Graduate Project. Graduates from three Schools within Griffith University were surveyed to determine their perceptions of the contributions that the learning contexts of university, work placement and post-graduation employment made to the development of their generic skills. All graduates involved in the project had experienced work placement as a formal part of their undergraduate studies. Supplementary data from focus group discussions held with employers and graduates are also included. Findings showed that while graduates recognized the contribution university had made to their generic skills development, they greatly valued the experience of learning in the workplace during placement and subsequently in employment. The importance of teamwork, being given responsibility, and collaborative learning emerged as the most important factors for effective learning in the three contexts under consideration.