This cross-sectional survey study (N = 222) examined the influences of employment on graduate and undergraduate students enrolled in majors with significant internship or practicum requirements (journalism, social work, nursing and health sciences). The study is unique in that student perceptions regarding the challenges and rewards of working while attending college were solicited and used to identify potential differences in these perceptions by discipline, student status, and employment status. Students reported that working constrained the time available for studying and completing assignments, created logistical difficulties, caused physical and mental health problems, and resulted in negative academic consequences. On the other hand, some students reported that employment had a positive influence (time-management skills, real-life experiences). The authors employ rational choice theory to suggest that students understand the positive and negative influences of employment and choose whether and how much to work, despite potential consequences.