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The 'poaching externality' is the situation where the employer provides vocational training for the employee at a lower wage rate (the cost of training having been deducted) and the employee subsequently joins another firm at an appropriate rate of pay. In investigating this problem, the author uses individual career data, together with a French data set, to examine the effects of training on wages. In her analysis, the author considers post-training mobility and corrects for any self-selection in training. The results of the study confirm the existence of the 'poaching externality', and suggest that the benefit can be to the individual worker or to the firm the worker joins following training, depending on the nature of the mobility.