Wise person, following university, gets employment (5)
I believe the answer is:
usage
'employment' is the definition.
(I know that employment can be written as usage)
'wise person following university' is the wordplay.
'wise person' becomes 'sage' (sage can mean a wise or holy person).
'following' is a charade indicator (letters next to each other).
'university' becomes 'U' (abbreviation for university).
'sage' after 'u' is 'USAGE'.
'gets' is the link.
(Other definitions for usage that I've seen before include "Custom - treatment" , "Treatment; tradition" , "Tradition - rate of consumption" , "phraseology" , "Accepted or habitual practice" .)