The need in many countries not merely to recruit but--critically--to retain effective teachers has been a key factor in shaping induction policies. Past reviews of teacher induction have highlighted two important sources of difficulty: novices' own unrealistic expectations of teaching and of students, and others' unrealistic expectations of the novices. This article, which examines the relationship between teachers' expectations of the first year of teaching and the realities that they encounter, explores the ways in which two policies in England--school-based initial teacher education partnerships (established since the early 1990s) and formal induction arrangements (re-introduced in 2000) have impacted on beginning teachers' experience of the transition. Drawing on data from a three-year longitudinal study it focuses specifically on how the teachers' reflections on their "experience" of their first year in teaching are related to the accounts that they give of their "learning" over the same period. (Contains 4 notes and 3 tables.)