The extent to which value orientations of professional students differ by occupational groups and by the socializing effects of professional schools on students was assessed. Approximately 1,150 students in nine major doctoral-granting universities participated. Based on work by Bengtson (1975), a humanism/materialism score was constructed for each professional student by summing scores for respect or recognition, attractive appearance, financial comfort, possessions, sense of accomplishment and skill, and by subtracting scores for a world at peace, service, and ethical life. Collectivism/individualism scores were constructed by summing scores for an exciting life and personal freedom and by subtracting scores for religious participation, loyalty to one's own, and patriotism. Three groups of students were distinguished: full-fledged professions (law and medicine); semi-professions (education, nursing, social work, and librarianship); and private enterprise professions (engineering and business administration). The private enterprise professional student scored on the humanist end of the continuum, whereas full-fledged and semi-professional students scored on the materialist end. The full-fledged professional students were relatively collectivist while the semi- and private enterprise students appeared more individualist. Members of the semi-professions appeared to be relatively materialist and individualist. There was no evidence of systematic differences in value orientations of professional student as they progress through their preparatory programs. It is suggested that the findings challenge some popular beliefs about professionals and professional students. A value ranking questionnaire is appended. (SW)