Surveys of teacher preparation program (TPP) completers have become one widely used measure for program accountability and improvement, yet there is little evidence as to whether perceptions of preparation experiences predict the workforce outcomes of teachers. In the present study, we use statewide completer survey data from North Carolina to assess whether perceptions of preparation quality and opportunities to learn during teacher preparation predict completers' value-added estimates, evaluation ratings, and retention. We perform multiple analyses to address validity concerns--that is, selection into TPPs, sorting into K-12 schools, simultaneity in survey and outcome measures, and differential survey response rates across TPPs. Results are not always consistent across these analyses; however, evidence suggests that completer perceptions are modestly associated with teacher effectiveness and retention. Continued research can further address validity concerns and build a body of evidence on completer perceptions and teacher outcomes.