Does International Academic Mobility Enhance Students' Perceived Employability? Evidence from an Erasmus Programme Case Study

International academic mobility is widely promoted as a driver of graduate employability; however, empirical evidence at the student level remains limited. This quantitative working paper investigates whether Erasmus mobility intensity is associated with higher perceived employability and whether this relationship is explained by skill development. Primary data were collected through an anonymous survey administered to Erasmus students participating in academic activities in Alicante during the 2026 mobility period (n = 102). Mobility intensity was operationalised through a composite index combining duration of mobility, academic workload (ECTS), and engagement in academic activities beyond standard coursework. Perceived employability and skill development were measured using validated 7-point Likert-scale indices with strong internal consistency. Results indicate a positive association between mobility intensity and perceived employability (r = 0.29, p < 0.01). Skill development exhibits a stronger relationship with employability (r = 0.56, p < 0.001) and partially mediates the mobility-employability relationship in regression models. The findings suggest that Erasmus mobility enhances employability primarily through the development of transferable and intercultural skills rather than through participation alone. Implications are discussed for higher education internationalisation strategies and employability-oriented programme design.