Beginning teachers enter the profession with notions about what their school organization will provide for them and what they will give their organization, in exchange. Psychological contracts, as defined by Schein exist between beginning teachers and their organization. I contend, with the use of a conceptual framework, that if the implicit terms of reciprocal beginning teachers' psychological contracts are fulfilled, both teachers and their organization will experience growth and ultimately we will see an increased flourishing in our schools. In this theoretical paper, a comprehensive description of beginning teachers' psychological contracts, including the aspects of their personal, professional and self-identity needs is offered. The importance of flourishing beginning teacher, with discussion around attaining happiness and well-being, and positive psychology theory, is presented. The paper provides background and warrant for future research, which will be designed to provide educational leaders and policy-makers with best approaches to understanding and supporting beginning teachers as they flourish in schools.