Currently, Australian higher education equity policy focusses on access and participation. The implicit assumption is that disadvantage will be ameliorated through educational achievement. However, less is known as to whether patterns of disadvantage continue post-completion. In a context in which graduate employability is becoming an important yardstick against which to measure institutional effectiveness, these questions are of fundamental importance. This project uses Commonwealth graduate outcome data to investigate relationships between disadvantage and graduate outcomes throughout Australia. This provides a critical insight into how access to higher education does – or does not – lead to improvements in post-graduation equity.