Factor analysis of attitudes held by steelhead (Salmo gairdneri) and salmon (Oncorhynchus spp.) anglers revealed at least five factors that determine the value of angling. While steelhead and salmon anglers differed, they generally negatively evaluated three factors dealing with the economic benefits from angling. These were personal economic well-being, professionalism, and general economic well-being. Two positively evaluated factors related to pleasure and identity. Angler pleasure and identity, however, were not associated strongly with the quantity caught. High catch-and-effort steelhead and salmon anglers did not differ significantly from low-catch anglers having comparable levels of effort on either pleasure or identity measures.