The present study investigated in a sample of 587 telecom managers whether workaholism, burnout, and work engagement - the supposed antipode of burnout - can be distinguished empirically. These three concepts were measured with existing, validated multi-dimensional questionnaires. Structural equation modeling revealed that a slightly modified version of the hypothesised model that assumed three distinct yet correlated constructs - burnout, engagement, and workaholism - fitted the data best. Multiple regression analyses revealed that these three concepts retained unique hypothesised patterns of relationships with variables from five clusters representing (1) long working hours, (2) job characteristics, (3) work outcomes, (4) quality of social relationships, and (5) perceived health, respectively. In sum, our analyses provided converging evidence that workaholism, burnout, and engagement are three different kinds of employee well-being rather than three of a kind.