Boyer's (1990) seminal and influential discussion, Scholarship Reconsidered: Priorities of the Professoriate, challenged the existing views of faculty roles and responsibilities and generated considerable discussion regarding the way colleges and universities evaluate and train faculty (Golde, et al., 2008). In response, institutions of higher learning began to think critically regarding their responsibilities in preparing graduate students for the full range of faculty roles and responsibilities. This provided a gateway for the development of the national Preparing Future Faculty (PFF) program. Given this paradigmatic shift in conventional views on professional development training for doctoral students, the purpose of this study was to use the national Preparing Future Faculty program as a model to: (1) develop a valid instrument that reliably measured Professional Identity Development (PID) among Preparing Future Faculty (PFF) fellows; (2) determine if there was a relationship between PID and Teaching Efficacy (TE), between PID and Student's Career Expectations (SCE); and, (3) examine whether PID was a significant predictor of SCE and TE. Additionally, this study sought to generate a reliable measure that may be used by PFF administrators to assess the degree to which program participants had taken on a professional identity. A purposive sample of 11 institutions was selected to participate in the study. The 238 participants included current PFF program directors and PFF graduate students. The research followed a sequential exploratory design wherein qualitative, then quantitative, data were collected and analyzed and the results integrated to yield the outcome of the investigation. A Pearson r found significant, positive relationships between professional identity development and career expectations (r = .522, p < .001); and professional identity and teaching efficacy (r - .594, p < .001). A linear regression analysis determined that professional identity development was a significant predictor variable of career expectations [ F (1, 214) = 79.762, p < .001] and teaching efficacy [F (1, 212) = 114.760, p < .001]. A Cronbach's alpha coefficient measured the internal consistency reliability of the 30-item Preparing Future Faculty Professional Identify Development Survey-Pilot (PFF-PIDS Pilot). The total scale reliability of the 30-item instrument was a robust .98 and .96 for each subscale. Implications for current and developing PFF programs are discussed along with implications for educational psychologists.