The continuous organizational changes caused by information technology and by the increase in global competition entail deep transformations in work relationships. The IT sector of large companies are increasingly resorting to outsourcing these services from IT specialized firms. It makes the outsourced IT professional deal directly with two firms: the contractor and the contracted. The present study aims at analyzing how this individual develops his psychological contract within these two firms, and how he becomes aware of his situation in a new labor market context. To this end, case studies were carried out in three companies operating domestically. The qualitative research method was used for effecting semi-structured interviews with outsourced IT professional in such firms. Results showed that the psychological contract is molded by factors other than the limits of the employment contract. For example, such factors as market forces, one´s personal life, and the degree of individual identification with both firms.