Burnout is a significant problem in the workplace and recent research suggests burnout is also a growing concern for students. This study aimed to explore the transition from study to work, including exploring the impact of student burnout on work burnout. Australian health profession students (T1, n = 86; T2, n = 86; T3, n = 57) from the disciplines of nursing, psychology, occupational therapy and social work were followed from their final year at university into their first two years at work. An online questionnaire which included measures of exhaustion, cynicism, professional efficacy, mental health, neuroticism, study/job demands and resources was administered at three time points, one year apart. Contrary to the hypotheses, burnout was higher in study than work for all dimensions of burnout. Study exhaustion and cynicism predicted work exhaustion and cynicism, respectively. These results demonstrate the importance of early intervention for burnout in university settings, both to decrease student burnout and to prevent future work burnout.