<p>Religious and spiritual (R/S) leaders spend formative years in seminaries, where they learn practical skills, reformulate their conceptions of and relationships with God (or the Divine, the universe, what is ultimate, etc.), gain historical and theological knowledge, and potentially cultivate capacities and virtues that bolster their ability to engage resilience and promote flourishing within themselves and their communities. Often during their seminary programs, future R/S leaders begin developing their vocational identity and discover factors that contribute to their professional burnout and well-being. The present sequential QUAL (survey) – <i>qualitative</i> (focus groups) mixed method study, conducted in a progressive Christian seminary in the Northeastern United States, investigated which personal strengths first-year seminary students perceived might help them avoid burnout and experience well-being, as well as which vulnerabilities they felt might increase burnout risks or undermine their flourishing capabilities during their graduate program. Results from two qualitative data collection points are presented in which an initial qualitative survey’s findings (<i>N</i> = 44) informed the design of a focus group protocol (<i>n</i> = 13). Contextualizing findings within a dual-factor approach in which positive and negative factors were explored simultaneously, we identified factors that students considered relevant for (a) contributing to burnout, (b) preventing burnout, and (c) promoting flourishing. Implications for both future research and seminary formation are discussed.</p>