This study examined the relationship between perfectionism and academic burnout, as well as how each construct varies among honors (n = 120), high-achieving non-honors (n = 180), and typical (n = 196) undergraduate students at a mid-sized university in the United States. Results indicated the presence of group differences in perfectionism type: honors students were largely characterized as maladaptive perfectionists; high-achieving non-honors students mostly as maladaptive or non-perfectionists; and the majority of typical students as non-perfectionists. In addition, analyses revealed significant differences in academic burnout by perfectionism type, with adaptive perfectionists exhibiting higher levels of burnout than either maladaptive or non-perfectionists. Further investigation into this phenomenon, perhaps examining the effects of the COVID-19 pandemic on student demands and resources, is needed. Significant implications for leaders in higher education are discussed, such as suggestions for the implementation of interventions focused on increasing student resources and reducing perfectionistic concerns.