This study compares the early employment outcomes of Malaysian graduates who are trained locally versus those who were trained abroad, specifically in universities in the United States and United Kingdom. The study examined the employment outcomes in terms of level of income and job satisfaction. A total of 408 graduates were surveyed for the study. The respondents who were selected randomly nation wide were of similar major of studies. One of the objectives of the study was to find out whether the amount of money spent to train student abroad which can cost up to four times the cost of training students locally is justified. Early research reported that in developing countries, foreign trained graduates were accorded higher income when compared to their counterparts who were trained locally. However, this study indicated that location of study was not significant in explaining the variation of income of graduates. Using regression techniques, the differences in income level was found to be significantly explained by the flowing variables; gender, job, duration, self-esteem, employers' ownership, academic majors and English proficiency. It was also reported that both cohorts of graduates were equally satisfied in their jobs. It was interesting to note that female graduates were also satisfied in theirjobs despite earning less than the males graduates. Job fit index, self-esteem, income, specific self-esteem and satisfaction with university facilities, were found to be significant in explaining the differences in job safisfaction. The study. also compared the attributes and experiences of the two cohorts interms of socio economic and high school background and university and job experiences. It was also reported that there is upward social mobility of graduates as a result of the heavy investment in higher education. The results of the study could be seen as useful, first, to the policy makers in making the right decision in some aspects of investing a large a mount of money in higher education. Secondly, to potential university students in Malaysia, the study will help them to plan their academic careers to suit their future employment opportunities.