This study sought to develop and validate the Postgraduate School Application Outcome Expectations Scale (PSAOE), which measures an individual's perceived consequences of completing self-regulatory tasks inherent to the postgraduate school application process. Items were generated from an extensive review of the literature, and a panel of experts and a pilot sample of undergraduate students provided feedback on items. Exploratory factor analysis of responses from 314 participants yielded a conceptually interpretable, 15-item, three-factor solution, which explained 57.08% of the variance. Confirmatory factor analysis of responses from 377 participants provided support for the three-factor model. Three conceptually similar measures, including the VOE-R, CEOES, and PSASE, were used to provide evidence of convergent and discriminant validity. Implications for practice and future directions were also discussed.