This 2-year longitudinal study among 848 university employees investigated the individual development of perceived job insecurity (JI) in the context of changes occurring in the Finnish universities during the follow-up time. Adopting a person-oriented approach through latent profile analysis, 8 classes of employees with similar mean levels and mean-level changes in JI were identified. Two of these classes (75% of the participants) indicated stable (low, moderately high) JI, and the remaining 6 classes (25% of the participants) showed change (decreasing, increasing, curvilinear) in the level of JI across time. We then examined possible differences between these classes with respect to individual antecedents and outcomes of JI. Of the antecedents, the type of employment contract distinguished best between the JI classes. Of the outcomes, moderately high stable JI was associated with low stable vigor and high stable levels of exhaustion and turnover intentions across time. In addition, it seemed that a decrease in JI was associated with a decrease in exhaustion and turnover intentions and vice versa. Altogether the findings suggest that developmental JI classes exhibit a substantial amount of heterogeneity, which is simultaneously reflected in occupational well-being.