The following study in Academic Medicine sought to understand the impact of medical training on student well-being by comparing mental health indicators of matriculating medical students (MMSs) versus those of a probability-based sample of the general U.S. population. MMSs at six U.S. medical schools were invited to participate in a survey during orientation, and the research team surveyed a probability-based sample of U.S. age-similar college graduates using the same questions. Surveys included demographics and validated instruments to measure burnout; depression symptoms; and mental, emotional, physical, and overall of quality of life. MMSs had lower rates of burnout and depression symptoms and higher scores across four quality of life domains. These findings provide support for existing concerns about the negative impact of training on student well-being.