The article focuses on the effects of management-by-results from the perspective of the work motivation of university employees. The study is based on extensive survey data among employees at Finnish universities. According to the results, performance measurement is based on quantitative rather than qualitative measures, and the current management-by-results system has a negative effect on work motivation among experts. The motivation to engage in creative, knowledge-intensive work, such as the work carried out at universities, is typically intrinsic. In the light of the empirical findings of the study it seems that management-by-results is in conflict with intrinsic motivation and the very essence of the expert work undertaken in universities.