Although employer-sponsored child care programs have become more common, there is little empirical research on whether these programs affect employees' satisfaction with child care or their work-life balance, and if effects vary across employee characteristics. In this exploratory study, we administered a survey to employees with children at one large university to gather information on their child care arrangements and experience with their employer's child care voucher program (N = 776). Satisfaction with child care varied with employee and child care characteristics, but not with voucher receipt. Families with preschool children, White families, and those using paid home-based care were more satisfied with their child care arrangements than those with school-age children, minority families, and those using center-based or before/afterschool care. Nearly half of voucher recipients (47%) reported benefits in work-life balance as a result of the voucher. Although demand-side vouchers appear to be a promising employer approach to address child care challenges, these results suggest that attention must also be given to the structure of child care supply as satisfaction and work-family stress are affected by more factors than child care cost only.