The employment and entrepreneurship of returnees has become a hot issue in the field of international human capital transnational migration studies. MyCOS Research Institute has carried out a three-year follow-up survey based on the 2011 and the 2012 session of graduates studying abroad and those in mainland China. The research has compared the status quo，employment destination and the quality of employment of both groups. The study found that in the two recent years，the oversea postgraduates returning rate remains stable，and the ratio is about 60%，among which nearly 50% of the returnees choose to live in the municipal cities directly under the central government. Three years later，the main choices for the employment of returnees is to work，to pursue higher degrees and to do their own businesses，of which the proportion of independent entrepreneurship is much higher than the domestic postgraduates. In the employment enterprises，the oversea returned postgraduates tend to work with transnational corporations and large firms. The employment quality of the 2012 session of postgraduates studying abroad has improved than the 2011 session，and also better than the domestic postgraduates.