The paper extends previous literature on the relationship between mood and self-efficacy, posing hedonic and utilitarian motivation as a moderator of this relationship. The literature on mood, self-efficacy, hedonic, and utilitarian motivation is reviewed and linkages between them are examined. A four-quadrant framework is offered as a conceptualization of the impact of hedonic and utilitarian motivations on the mood and self-efficacy relationship. Propositions are offered on basis of the proposed framework. Implications of the model are discussed in the context of managing knowledge workers.