While perceived overqualification (POQ) has received increased research attention in recent years, the identification of variables that moderate POQ-outcome relationships is critical to our understanding of how the construct affects career outcomes. This study, involving 170 full-time primary and secondary school educators in a suburban mid-Atlantic school system, found that POQ is negatively related to job satisfaction and affective commitment while positively related to turnover intentions and desire to turnover. While POQ was not significantly related to performance or continuance organizational commitment, the relationships between POQ and both performance and continuance organizational commitment were significantly moderated by the experience of career calling orientation. Generally, the relationship between POQ and performance was stronger, and the relationship between POQ and continuance organizational commitment was weaker, for those with high calling. Additionally, the effects of career calling were considerably stronger than those of POQ for all criteria. The implications surrounding these results, and opportunities for future investigation, are discussed.