Objective: This article reviews and summarizes eight ethical guidelines of major professional organizations regarding the pharmaceutical industry's role in the psychiatric education of trainees. Method: The author conducted a literature review of research and guidelines pertaining to the pharmaceutical industry's relationship to trainees, with special attention to ethical implications. Results: A spectrum of ethical acceptability is represented in the various guidelines. The greatest disagreement exists regarding the appropriateness of gift-giving and hospitality. The greatest degree of consensus exists regarding the provision of and criteria for scholarships to trainees. Policies regarding the use of samples and the industry's influence on graduate medical education were less well developed compared with other areas. Conclusions: A review of guidelines can serve as a basis for dialogue, curricula development, and further research on the ethics of pharmaceutical company interactions with trainees in academic psychiatry.