This study analyzed whether student performance at the end of a professional counseling master's degree (MA) program could be predicted by variables collected during admission 2 to 3 years earlier. The criterion variables were graduate grade point average (GPA) and internship evaluation ratings, and the predictor variables were undergraduate GPA, preadmission workshop ratings, and performance on the Minnesota Multiphasic Personality Inventory (MMPI)-2 (10 clinical scales and Scales L, F, and K). In addition, the incremental validity of the MMPI-2 was evaluated to determine if it significantly added to the prediction of outcomes. Two hierarchical regression analyses produced a number of key findings. Across both analyses, the MMPI-2 independently accounted for the most variance in outcomes, after accounting for undergraduate GPA and preadmission workshop ratings. In predicting graduate GPA, the MMPI-2 uniquely explained 17.7% of the variance (p < .05). For internship ratings, the MMPI-2 explained 14.5% of the unique variance (p < .10). Individual MMPI-2 scales that accounted for the most variance were 2, 9, and F. Although the findings provide support for the incremental validity of the MMPI-2 in predicting graduate program outcomes, important limitations for how the MMPI-2 should be used are also discussed.