This study examined the newly developed ethnic identity measures of the Ethnic Identity Scale (EIS) and the Multigroup Ethnic Identity Measure-Revised (MEIM-R) from psychometric and theoretical perspectives. Survey data from 289 counseling students in California were analyzed. Confirmatory factor analyses supported three correlated factors of the EIS (exploration, resolution, and affirmation) and two correlated factors of the MEIM-R (exploration, commitment) for both European American and minority students. Consistent with the theories of Erikson's and Marcia's identity development, the EIS and the MEIM-R nicely depicted (a) Marcia's 4 (2 × 2) identity statuses of diffusion, foreclosure, moratorium, and achievement and (b) the hierarchy of identity statuses in relation to subjective well-being as an indicator of adjustment, especially for minority students. Additionally, European American and minority students revealed differences as to the salience and importance of ethnic identity. Recommendations for using the EIS and the MEIM-R are provided.