Employment is one of the core behaviors regulating the modern societal structure. Research has shown that with the passage of years, an increasing number of students are getting employed and that there are numerous benefits and consequences of this phenomenon. Keeping this development in mind, it is imperative to study how jobs are affecting the students of our society. A sample of 250 undergraduate students was used, including 125 employed students and 125 unemployed students, ranging from the ages of 18 to 30 (M=21.26, SD=1.49). Data was collected using purposive sampling. The research was conducted using the Assessing Emotions Scale by Schutte et al. (1998) and Academic Self-efficacy scale (Ghafoor & Ashraf, 2007). An independent samples t-test was conducted to compare the mean differences in emotional intelligence of employed and unemployed students. Significant differences were observed between employed (M=113.13, SD=24.37) and unemployed students (M=118.05, SD=19.47; p=.02). Students who were unemployed were found to have higher emotional intelligence than employed students. An independent samples t-test was conducted to compare the academic self-efficacy scores for employed and unemployed students. There was no significant difference observed in scores for employed students (M=113.45, SD = 13.43) and unemployed students (M=116.40, SD=11.66; p=.15). This study has both practical and theoretical implications for future researchers who wish to examine the role of employment in mediating other psychological constructs among university students.