This study explores the construction of neoliberal subjectivities in graduate education within the context of the discourse on human capital. It draws on the phenomenology design, one of the designs in qualitative research. To choose the participants, the purposeful sampling technique was applied. Foundation universities and research public universities in Istanbul were favoured in this context as representative scenarios. The study group consisted of current graduate students and academics teaching in graduate education programs at research state universities and private universities. There are 12 participants in the working group -- six academics and six graduate students. The content analysis method was used to analyse the data. As a result of this analysis, the theme "competitiveness" -- the categories "diploma inflation," "certificate fetishism," "abandonment cost," and the theme "entrepreneurship" -- the categories "self-interest," "emerging trend," and "ignored skill" were reached. In this study, competitiveness among graduate students involves striving to enhance skills, fulfil career aspirations, and attain higher earnings. Entrepreneurship entails expanding networks, taking risks, and fostering innovation to improve job prospects through graduate credentials.