In order to investigate the influence of employment decisions and market fluctuations of graduates of private colleges and universities in Fujian Province, this paper puts forward hypotheses on graduates’ subjective cognition and their employment decisions under the perspective of behavioral finance. The results of students’ subjective cognition of employment decision-making are collected by questionnaire survey, and then the collected data are processed by multiple linear regression analysis, and finally the significance of the analysis method is verified by least squares and analysis of variance (ANOVA). The results showed that monthly salary expectations and ability structures were significantly positively correlated with employment status, with correlation coefficients of 0.5413 and 0.1142, respectively, and p-values of 0.0129 and 0.0263, respectively. Knowledge structure and quality of talent were significantly negatively correlated with the correlation coefficients of employment status (−0.2102 and -0.3496) (p 0.05). The synthesis of the requirements of the enterprise employers concluded that the graduates with lower monthly salary expectations (<6500 yuan), who can handle human social relations, higher level of professional knowledge, experienced in social work and experience, and subjective perception of teamwork have lower employment status indexes (1.445, 1.2567, 1.0000, 1.1307, and 1.3305, respectively), and they are the ones who are qualified for the employers’ criteria for hiring good students. Therefore, graduates should take the market demand and employers’ standards as the starting point to improve their comprehensive strength, so as to provide high-quality employment.