It has become common practice for management students to participate in some sort of self-assessment or multisource feedback assessment (MSF; also called 360-degree assessment or multirater assessment) during their management degree program. These assessments provide students invaluable feedback about themselves and assist students in their personal and professional development. This article draws on a conceptualization of the self as multifaceted to examine the benefits and limitations of self-assessment and MSF. Specifically, although an aid to students' learning, self-assessment tools predominantly treat the self as an individual self, thereby ignoring the relational and collective aspects of the self. Moreover, self-assessments that people make tend to be inflated, unreliable, and biased. MSF improves on self-assessment by including others' assessment of the self; however, it also possesses three limitations in its current treatment: MSF (a) conceptualizes the self as an individual self, (b) ignores the importance of context, and (c) relies primarily on a self-other rating agreement. These limitations are explored, and remedies are offered to better account for the multifaceted nature of the self.