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This research has two main objectives. The first is to examine the impact of intangible compensation on employees’ intention to quit. The second is to study the moderating effect of job expectations on the relationship between intangible compensation and intention to quit. On the basis of a literature review, signaling theory, and social exchange theory, it is postulated that intangible compensation decreases intention to quit and that job expectations moderate that relationship. Our data come from a two-factor quasi-experimental study of 318 undergraduate students at the business school of a major Canadian university. Intangible compensation is measured by two factors: 1- recognition, and 2- training and development. The results indicate that intangible compensation has a significant impact on intention to quit. Specifically, recognition and training and development decrease intention to quit. Job expectations are measured by two factors: 1- achievement at work, and 2- balance between personal and professional life. The results indicate that only job achievement expectations moderate the negative relationship between training and development and intention to quit. This study ends with a discussion of the results, their management implications, and potential avenues for future research.