This study examines some sources and manifestations of stress in two-earner couples at different life-stages. In all, 152 couples, who were parents, non-parents or transitional between these two stages, participated in the study. There was little evidence that couples expecting their first child and intending to resume a two-earner life-style experienced anticipatory stress. Parents, especially mothers, experienced more pressures than non-parents, but the negative impact of parenthood on well-being was greater for fathers. Using multivariate analysis it was found that organizational, extra-organizational and individual difference factors were associated with stress for all couples, but that different pressures were paramount for parents and non-parents. Implications for practice and for future research in the area are discussed.