The aging demographic profile of the American population coupled with the increased burden of chronic disease is increasing the demand for care - both within the healthcare system and within the home. As a result of these trends, a large proportion of the population is facing the competing demands of working and caring for a loved one. In the study presented here, we investigated the impact of informal caregiving, employment, and the combination of these responsibilities on the overall well-being of 243,997 Americans surveyed using the Gallup-Healthways Well-Being IndexTM (GHWBI). Results demonstrated that caregivers typically have lower levels of well-being compared with non-caregivers of the same employment status; however, employment is associated with greater well-being, even among caregivers. These findings were fairly consistent across all sub-domains of well-being, demonstrating that employment has a broad-based positive affect on the lives of workers, and that the beneficial impact of employment on well- being often supersedes any detrimental impact of caregiving. In conclusion, the higher well-being reported by employed caregivers compared with their non-employed counterparts suggests that there are benefits of employment, such as financial security and social support, that can ease the burden of the caregiving role.