This study focuses on the undergraduate self-perception of employability. We aimed to explore the impact of human capital, which incorporates social capital, cultural capital, psychological capital, scholastic capital, market-value capital, and skills. We also examined the role of careers advice and career ownership (protean career). Additionally, moderators of gender, degree subject, and year of study offer further contribution. Running a two-wave study (Model I) and a cross-sectional study (Model II) of undergraduates at a UK university, our findings draw on 387 students. Findings indicate that human capital, careers advice, and career ownership are important components of self-perceived employability. The study advances human capital theory and contemporary career theory at the transition from higher education into the labour market. Through advancing understanding of the undergraduate self-perception of employability, all stakeholders may benefit, via better-informed strategies for preparing, attracting, hiring, and retaining graduates.