EU Erasmus Student Exchange Program Boosts Employability

Graduates with international experience fare much better on the job market, according to the results of a study released Monday measuring the impact of the Erasmus student exchange program in the European Union (EU).

The Erasmus Impact Study shows that young people who study or train abroad not only gain knowledge in specific disciplines, but also strengthen key transversal skills which are highly valued by employers.

"They are half as likely to experience long-term unemployment compared with those who have not studied or trained abroad and, five years after graduation, their unemployment rate is 23 percent lower," said the study.

"The message is clear: if you study or train abroad, you are more likely to increase your job prospects. The new Erasmus Plus program will offer EU grants to four million people between 2014 and 2020, allowing them to experience life in another country through studies, training, teaching or volunteering," Androulla Vassiliou, European Commissioner for Education, Culture, Multilingualism and Youth, told a press conference in Brussels.

The report reveals that more than one in three Erasmus trainees is offered a position at the enterprise where they do their traineeship.

Erasmus trainees are also more entrepreneurial than their stay-at-home counterparts: one in 10 has started their own company and more than three out of four plan to, or can imagine doing so. They can also expect faster career advancement: staff with international experience are given greater professional responsibility, according to 64 percent of employers.

The study is the largest of its kind and received feedback from nearly 80,000 respondents, including students and businesses. Erasmus Plus, the new program for education, training, youth and sport, was launched in January 2014 with a total budget of nearly 15 billion euros (19.28 billion U.S. dollars) for the next seven years.