This research focused on skills identified among final year engineering students. It provided evidence of different levels of skills by students and identifies their greatest learning influences in these areas. The skills were self-assessed by students and covered seven areas designated by Engineers Ireland. Competency levels such as science, software, creativity, engineering practice, social and business, ethics, discipline specific were assessed. It also investigated the important role that work placements play in skills developed by students. Key skills sought by leading Engineering firms from graduates now and in the next five years were also researched in this paper. Employers were surveyed to determine and investigate skills needed from graduate engineers and how best to meet these challenges. The emphasis on work placements and its impact on skills’ development in engineering students such as business acumen and working effectively and efficiently in industry were highlighted.