The paper is part of a pilot study exploring how undergraduate engineering students at one Australian university perceive their own employability development over the span of their degree. The paper outlines approaches to defining employability and the individual factors within employability. Students across a range of year levels were surveyed about their perceived employability, which refers to how likely it is that an individual believes they will be able to gain employment. The paper discusses the survey results and finds that perceived employability drops as students progress through the year levels of their degree. The study strengthens previous research in this area, and reinforces the need for universities to ensure that students are supported as they enter the labour market to become the engineering professionals of the future.