Trust propensity is typically conceptualized as a stable, trait-like, exogenous variable. Drawing on the social investment principle of personality change, we argue that trust propensity has situationally specific components and is likely to be less stable during periods of career transition. Using a latent curve-latent state-trait model, we present evidence that suggests that trust propensity has stable (trait) and unstable (state) components during career transition periods and that it has the potential to change over time. Our results are replicated across two, transitional workplace populations during a process of (re)socialization into an organization. In our second study, we also expand our focus to examine correlates of trust propensity and demonstrate the relationship between state and trait trust propensity and cognitive depletion. Our paper significantly extends knowledge of the nature of trust propensity and raises questions about the stability of this construct, one of the core tenets of trust theory.