The most notable achievement of Rafferty's professional career came in 1989, when he finished top of the European Tour Order of Merit. He came close to breaking the then record for consecutive cuts made on the European Tour in the early 1990s, before struggling for form amid injuries later in the decade. He failed to finish inside the top 100 on the Order of Merit between 1998 and 2004. In total he has seven wins on the tour, all of which came between 1989 and 1993. Rafferty now plays few tournaments, and is involved in broadcasting, where he works as a commentator and analyst, and golf course design. He regularly appeared on Setanta Golf's coverage of the PGA Tour.