This paper reports on a study which measured labor market experience and its possible effects on workers' psychological expectancies. Past efforts that employed black and white men and women had made to improve their market situations are described, as well as attributions they gave for their experiences. Work or educational changes attempted by women, and their encountering of different problems from those reported by white men, are discussed. Race and sex differences in expectancies are reported. Results that illuminate some issues of relevance for women are examined. These concern the expectancy implications of their past market experiences, and the role of these experiences in accounting for their expectancy disadvantage relative to white men. The importance of psychological expectancies and self concept to job achievement are stresssed. (Author/MC)