This article examines how school children and adolescents ( = 607) perceive the nature of talent development. More particularly it is investigated whether students perceive intelligence and giftedness as developing or as inherent and how students' perspectives on talent development are related to their learning outcomes. Participants were students in elementary ( = 200), lower secondary ( = 256), and upper secondary school ( = 151). The results showed that students perceived the nature of intelligence as more malleable than giftedness. Along with this domain-specific variance, there were also age and gender related differences in students' perceptions. By examining the relation between implicit beliefs and students' academic achievements, it was found that growth-oriented views about intelligence, but fixed ideas about giftedness, indicated higher math grades. The results suggest that the relationship between implicit beliefs and academic outcomes might not be as straightforward as previous studies have suggested.