Temporary study in another European country supported by the ERASMUS programmes spread from a few thousand participants in the late 1980s to about 150,000 annually in recent years. Such a study period is not only viewed as academically, culturally, and linguistically valuable but is also expected to have a positive impact on subsequent employment and work. Three major studies of former ERASMUS students underscore in many respects the professional value of temporary study in another European country. But former ERASMUS students do not believe that they excel in income and social status during their early career. Moreover, the distinct professional value of temporary study in another country is declining over time. However, temporary study in another European country has remained an exceptional and professionally highly rewarded experience for students from Central and Eastern European countries. (Contains 4 tables.)