Higher education is increasingly concerned with providing students with experiences that enhance employability. Sitting outside the curriculum, extra- or co-curricular activities that focus on career development, leadership, service or recognition can lead to positive employability and employment outcomes. The extent to which different student groups have access to and participate in these employability-related activities (ERAs) is underexplored, along with their relative gains in the labour market. This research surveyed 84,000 graduates in Australia on their participation in various activity types and the impact on their sense of preparedness for work and labour force outcomes. Findings demonstrate that over one-half of respondents participated in an ERA with groups tending to favour different activity types. Overall, the greatest differences in participation were observed by age, gender, disability, citizenship and socio-economic background. Activities impacted differently on employment outcomes with graduates from regional areas, of low socio-economic status and with disability garnering strong benefits. Club/society roles, leadership/award and mentoring programmes offered valuable development opportunities for most graduates, with less favourable outcomes reported for volunteering and micro-credentials. The study provides important information for designing ERAs that can be more easily accessed by increasingly diverse cohorts and that better support lifelong learning and transition to work for all students.