Nine out of ten engineering study programs have already been adapted to the new bachelor and master degrees. While the universities have so far sent ambiguous signals regarding the employment chances of bachelor engineers, a representative IW survey among companies finds that they generally highly appreciate both bachelor and master graduates. Even though their numbers are still small compared to engineers with traditional diplomas, master and bachelor graduates meanwhile work in one of seven companies with engineers in their staff. The business and human resource managers included in the survey consider master and bachelor graduates employable in almost all fields of work from research and development to after-sales services. Innovative and research firms share this assessment. Even though engineers with a bachelor or master degree typically receive lower entry wages than engineers with a diploma, the majority of the companies report that the gap disappear after three to five years of work experience.