I attended a graduation ceremony a few days ago and what struck me was the amount of women who are not used to wearing heels then wearing Skyscraper heels & struggling to walk & stay upright.
So here are my light hearted observations of the day and no offence intended.
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heels should be mid length or flat with cushioned gel inserts as there's a lot of standing around between parts. There were lots of cobbled streets were I was and lots of women falling over in said sky scrapers 
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also if you're receiving a degree remember it's a quick turn around on stage so heels might hamper getting up & down the steps safely. There was an usher at the bottom of the stage helping female graduates get on & off the stage safely. Presumably they've had an incident in the past to warrant this.
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hem lengths ideally knee length because it's a formal event in a formal venue often in a cathedral but not always. Factor in gusty winds and if you're receiving a degree you'll be up on a stage so nobody below wants to see pink, mickey mouse knickers.
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light jacket
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good hearty breakfast or lunch before hand and keep a few oaty bars in your bag
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do go to the loo before you sit down as the ceremony doesn't usually start for another hour.
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please don't wear a Queen mum hat as it's ott and obstructs the view for everyone else 
Lastly take tissues if you're partial to tears