In this article, we address the questions: How is the purpose of higher education constructed within policy texts from the European Higher Education Area (EHEA), England and Sweden? How does this position students in making the transition from Bachelor to Masters? We do this through analysis of two recent policy documents from each of the EHEA, England and Sweden, identifying key discourses including the meanings, oppositions, contradictions and logics that structure the texts. We look at what aspects of ‘global policyspeak’ are common across them, what are their particularities and how these are shaped by distinct histories. We argue that all the texts represent neoliberal policies in sharing an economic rationale for higher education and in individualising the benefits of university education. Students are, in their transition from Bachelor to Masters, expected to maximise their employability and their ability to contribute to the national and global knowledge economy. However, there are also differences between the policy documents, tensions within them and alternative discourses, such as a focus on dialogue and academic freedom that challenge the reduction of higher education to the economic.