The purpose of the present study was to determine whether students' views of mentors have changed as a function of the increased number of faculty members conducting research and the inclusion of undergraduate students in faculty mentors' research teams, using reports from current students. The participants were 227 undergraduate, master's, and doctoral students at two large, Western public universities located in the United States. One institution was a research-intensive university and the other was not. Students were asked to complete a questionnaire about whether they had a mentor, the characteristics of their mentors, and their perceptions of their mentors. The findings indicated that 28.5% of undergraduates and 95% of graduate students had mentors. Undergraduate students were significantly more likely to choose mentors for being inspiring instructors, and graduate students were significantly more likely to choose mentors because of interest in their research. The most important characteristic of both good and bad mentors was personality. Students at all levels perceived their mentors as very interested in their futures. Mentor satisfaction was high among students at all levels. The findings are encouraging, and they provide evidence that psychology has adapted well to the increased number of faculty conducting research and to the inclusion of undergraduate students in research.