One of the principal ways that cultural and higher education policy and practice intersect is over a shared concern with the supply of talent and its employability and career sustainability. This article considers the multidisciplinary contributions to these debates, and then engages with these debates by drawing upon research from analyses of national Census data, and via granular empirical survey research into Australian creative arts graduates’ initial career trajectories. In so doing, it seeks to paint a more nuanced picture of graduate outcomes, the significance of creative skills and by extension creative education and training, and the various kinds of value that creative graduates add through their work. This evidence should assist in a closer affinity between the differing approaches to creative labour and the creative economy, and has implications for cultural and higher education policy.