This article proposes two models and four principles for creating taxonomies of transferable skills that reflect and enable cross-institutional partnership between academic and professional services colleagues. Such language or taxonomies provide a shared focus for all institutional stakeholders in support of students' development and future employment outcomes. An anonymised UK university case study demonstrates the models and principles in practice through a cross-institutional collaboration between the Careers Service, other student services teams, and academic departments. Universities, subject/programme teams, academics, careers services, extra-curricular programme teams, and teaching and learning professionals can use the principles and models in this article to create transferable skills taxonomies for their students that can be owned by all university stakeholders, and are relevant to the graduate workplace.