The construct of opportunity for skill use (Warr, 1987) is examined, and two aspects of it are operationalized: the level of skill requirement of the job, and congruence between one's own skills and the skill requirements of the job. Associations with three measures of psychological well-being of (1) the two aspects of opportunity for skill use; (2) rate of job and employer change since graduation; and (3) experience of unemployment since graduation, are investigated. Longitudinal data were collected from 168 university graduates during their undergraduate studies and again 5-6 years after graduation. All were in full-time employment on the latter occasion. Contrary to prediction, skill requirements of the job predicted only one of the three aspects of well-being, and the interaction between skill requirements and self-rated skills (an operationalization of congruence) predicted none. Length of time in involuntary unemployment and frequency of job changing since graduation were associated with well-being 5-6 years after graduation, though only when undergraduate well-being was not statistically controlled. The measurement and utility of the construct of opportunity for skill use in relatively privileged samples is discussed.