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Several studies have projected a shortage in Chile’s teacher workforce. This paper reports findings from a study on first-year preservice teachers’ motivations and factors associated with satisfaction with their career choice and intention to persist in teaching. Survey results (N=1,140) showed higher altruistic and intrinsic motivations, with statistically significant differences as a function of gender and teaching major. A linear regression model showed that not choosing teaching as a fallback career, intrinsic value, and self-perceived ability to teach were significant predictors of satisfaction. Intrinsic value and enrolment in early childhood, elementary or special education were significant predictors for planned persistence. Motivations are shaped by cultural norms and values and ITE should harness motivations associated with intention to persist.