The value of field experience in administrator preparation programs is assessed in this paper, which examines commonly held beliefs about field experience. The following values of field experience--that it assesses career commitment, refines school goals, provides practice in real settings, and develops personal and professional competence--are disputed. Commonly held assumptions are also examined, which view field-based programs as examples of clinical experience, as natural complements to university courses, as part of a finite activity, as valuable in administrator preparation, and as the cure for administrator training. A three-dimensional model based on academic preparation, field-based learning, and professional formation is suggested. Professional formation is a process that synthesizes learning sources and provides a link between theory and practice. The recommendation is made for adding a professional formation component to field-based practice. (20 references) (LMI)