American colleges and universities are in need of innovative approaches to recruit and retain the upcoming generation of new faculty members. Specifically within the STEM (Science, Technology, Engineering, and Math) fields, there is an additional need to focus on meeting the needs of women in order to begin to address gender inequity within STEM. This chapter examines the impact of mentoring on self-efficacy for female graduate students and post doctoral fellows in STEM fields. Using data from a national study of selected US academic institutions, recommendations are made in order to enhance mentoring practices that will reduce the barriers women face within STEM fields. Quality mentoring programs represent a viable way to enhance institutional change that may result in increased numbers of women in STEM fields.