There are two colossal flaws with this argument:

1. Most graduates won’t have the financial means to abstain from employment in a bid to strengthen their knowledge; they’ll want to earn at the earliest possible convenience
2. There’s a set of knowledge that can’t simply be acquired by further study, but rather stems from experience. I’m talking: navigating an office environment; learning to work as part of a team, within an industry setting; managing the expectations of stakeholders; working with legacy projects; deploying and rolling back production releases; handling large amounts of traffic; and dozens more.

The junior moniker, in my eyes, is thus an important one. The problem with this title is that the labelled developers aren’t always taken seriously. The solution isn’t to encourage graduates to miss out on valuable industry experience, but to re-educate the upper echelons of the business; inform them that these devs may not have the experience, but many of them already have strong technical skills. Given time, they will flourish.