This study explored how domain-specific perfectionism (academic, social, physical appearance) among high school freshmen relates to internalizing symptoms using critical elements of expectancy-value theory (i.e., domain value and competence) as moderators. Results indicate that perfectionism across all domains was positively and significantly related to internalizing symptoms. Within the social domain, social value was a significant moderator of the relation between perfectionism and internalizing symptoms, and perceived social competence was a significant moderator of that moderation effect (i.e., at higher levels of social value and lower levels of perceived social competence, the relation between perfectionism and internalizing symptoms was the strongest). These findings provide support for the use of the expectancy-value model to predict mental health symptoms in the social domain and suggest the importance of addressing domain-specific perfectionism in the schools.