This study explores variation in postgraduate students' and supervisors' conceptions of research. Based on earlier work, a Conceptions of Research Inventory (CoRI) was trialled on a mixed sample of postgraduate students and supervisors (n=251). Exploratory factor analyses of resultant data yields a five-dimensional empirical model, the composition of which is consistent with earlier work by the present authors. Four of these five dimensions distinguish between (variation in) conceptions of research such as "truth", "problem-solving", "re-search", and "an insightful process". The fifth dimension captures variation in terms of what are interpreted as "misconceptions". The discrete conceptual dimensions suggested within the factor model are further explored via k-means cluster analyses in terms of partitioning of the dataset, as limited by sample sizes, according to postgraduate status and supervisor designation. These analyses provide further insights into variation, across the various clusters in each case, as expressed in the profiles of cluster mean scores. Such differences as are evidenced highlight contrasting patterns of variation between, for example, experienced and novice researchers. There is also evidence of dissonance in some of the cluster solutions and it is further demonstrated via analysis of variance that dissonant cluster membership is associated with a generally lower level of self-estimated performance. The implications of these findings are finally considered in relation to postgraduate training and supervision.