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Every graduate student dreams to be successful through a good placement from a reputed Commerce and Management institution/university. However, there exists a gap between perception and reality as many graduates are either unable to find work or a low pay salary job, despite having spent lakhs on their higher education. Therefore, it becomes crucial to identify the gap between students’ employability and requirements by employers; hence study points to identify and analyze the skills required for commerce and management students' employability through an employability assessment model. This study collected a sample of 194 Alumni of various Commerce and Management Departments in selected universities located in Delhi & NCR region of India. Exploratory Factor Analysis is used for analysis and provided some suitable measures. The findings of the study conclude that there are four major soft skills that are important for employability such as communication & problem-solving skills, thinking and analysis management, digital problem solving and socialization skills.