During the past decade, the growth in private practice has generated considerable debate in the social work profession on values and mission. Much of this debate has focused on whether social workers should enter private practice. Not as much research has been done on why social workers enter private practice. Using national random samples drawn from 1985 NASW membership records, this study compares the personal well-being of individuals who are in full-time private practice with the personal well-being of individuals who are in full-time agency practice. On all measures of personal well-being used in the study, workers in private practice fare significantly better than their colleagues in agency settings. The authors suggest that personal well-being may be one of the factors leading social workers into private practice. Additional implications also are suggested.