<p>Null results, rejected articles, publication pressure or funding reductions—all of those are examples of challenging work conditions in academia. Coping with these adversities is crucial for wellbeing and success. Psychological Capital (PsyCap) positively affects performance and health outcomes in various work contexts. This study explores PsyCap and its components in academia. In Study 1, we examined academics’ PsyCap in relation to their in- and extra-role performance. Participants (<i>n</i> = 116) took part in an online survey with two measurement points. Results confirmed a positive link between PsyCap and performance dimensions. Looking at the components separately, self-efficacy was related to in-role performance and resilience to extra-role performance. Study 2 aimed at training PsyCap in a quasi-experimental setting with an experimental (<i>n</i> = 30), an active (<i>n</i> = 22), and a passive control group (<i>n</i> = 17) in a pretest–posttest design. Differences between the experimental and passive control groups were found with respect to overall PsyCap, but no differences between the experimental and active control group. Looking at specific components, besides self-efficacy and resilience (in line with their importance shown in Study 1), hope showed significant differences (experimental vs. passive control group). By taking this training approach, we revealed that the PsyCap intervention predicted an increase in self-efficacy, resilience, and hope and hereby detected valuable personal resource in academia. In conclusion, especially self-efficacy and resilience seem to play a crucial role for performance in academia. This provides valuable indications for personnel development measures for academics.</p>