This paper aims at questioning the studies of labor insertion and employability of graduates of undergraduate programs, as a way of measuring the quality conditions of Higher Education. We start from the qualitative research, through the strategy of documentary reviews and from a reflective posture that allows us to conclude that labor insertion and employability studies are insufficient to measure the quality, compared to the graduated factor, of the undergraduate programs, due to i) The studies of labor insertion and employability, have as theoretical referents the economic and market function of the University, ii) The existence of distortion in the quantitative measurement, since the figures, averages and numerical data, from averaging the salary, the level of occupation or contribution rate percentages and the private rankings are not enough variables to measure an undergraduate program quality, with respect to its graduates, since it is necessary to review the context, which is heterogeneous and responds to the asymmetries that exist between public and private universities; and, iii) The influence of the Organization for Economic Cooperation and Development (OECD) in the Quality Assurance System in Higher Education.