The present study investigated the influence of contextual (i.e., being in college vs. being employed) and psychological (i.e., sense of coherence) processes on achieving a sense of adulthood in a sample of 317 emerging adults. Identity formation, conceptualized as multiple dimensions of exploration and of commitment, was conceived of as a mediator of these relationships. Individuals who perceive themselves as adults scored higher on commitment and lower on ruminative exploration than those who do not perceive themselves as full-fledged adults. Structural equation modeling demonstrated that the relationships of sense of coherence and attending college versus being employed to sense of adulthood were partially mediated by identity formation--and by the dimension of commitment making in particular. Being employed and scoring high on sense of coherence are directly and indirectly (through making stronger identity commitments) related to a greater sense of adulthood. Implications and suggestions for future research are outlined. (Contains 3 tables and 1 figure.)