Student evaluations of teaching (SET) are used by institutions of higher learning in the tenure and promotion process and in awarding merit pay increases. The trend at some institutions has been towards using an online student assessment instrument (SAI) in lieu of the traditional paper –based, in-class assessment. This study examines the difference in student evaluations in two contexts; online and paper-based, in a finance course taught to non-finance majors. The evidence strongly indicates faculty receives higher evaluations using a paper-based instrument administered during class than with an online assessment instrument which students complete on their own time.