Despite the high competition for places to study curricula related to information technology (IT) at the higher education level in Estonia, a large number of IT students drop out. Therefore, it is important to explore what influences students to start studying IT and what influences them to persist with their degree program. In this study, data were collected from 301 IT students in Estonia. The students completed a questionnaire at the beginning of their studies and after their first semester. Five factors influencing students' motivation were identified from analysis of these questionnaires. Three of these factors were the same at the beginning of and during studies: previous personal contact with IT, the reputation of the IT field, and development (including self-development and IT field development). A fourth factor related to a desire to continue previous IT studies was found to influence students' motivation only when entering university. A fifth, i.e., learning environment, factor was found to influence motivation only during studies. The outcomes of this study are important for developing new interventions to increase students' interest in IT, their enrollment in IT studies, and their retention.