This article reports the results of our study of electronic mentoring (e-mentoring) in a population of business students. As career paths have become more fluid and less predictable, a growing number of educational and business organizations have implemented traditional and, more recently, e-mentoring programs. But practice is ahead of evaluation when it comes to e-mentoring. We attempted to fill this gap by looking more closely at strengths and weaknesses associated with this type of mentoring. Building on research in traditional mentoring and integrating literature in computer-mediated communication, education and management, we developed a model of e-mentoring's antecedents and outcomes. We tested our hypotheses using a sample of business students (proteges) who were mentored by practicing managers. It was found that perceived similarity in terms of attitudes and values is positively related to effective e-mentoring, while demographic similarity (gender, race) is not. Moreover, effective e-mentoring may lead to proteges' enhanced academic performance, professional network and job opportunities. We conclude with implications of our findings and a discussion of opportunities for future research. (Contains 1 figure, 3 tables and 5 notes.)