This study among a sample of 154 Dutch teachers examines the discriminant validity of burnout and depression, as measured by the Maslach Burnout Inventory (MBI) and the Center for Epidemiologic Studies Depression Scale (CES-D), respectively. Confirmatory factor analyses show that burnout can be statistically discriminated from depression. Results corroborate the three-factor structure of the MBI and partly confirm the four-factor structure of the CES-D. Furthermore, results of structural equation modeling analyses show that a lack of reciprocity in the relationship with one's partner predicts depression (and not burnout), and that a lack of reciprocity in the relationship with students predicts burnout (and only indirectly depression). These findings are consistent with equity theory, and confirm the central hypothesis that burnout is work-related, whereas depression is context-free.