The aim of the study was to investigate the notions that employees of different Russian organizations have about work-life balance. The author has developed an original questionnaire using incomplete sentence approach. The data from the sample of 80 employees were processed using content analysis. Only 24% of the respondents demonstrated having a specific notion of work-life balance, which they defined as ability to establish boundaries between work and personal life, to distribute resources, and as resulting satisfaction with both spheres. A large share (48%) of respondents did not indicate having a specific notion of work-life balance, but associated it with positive psychological states, inner harmony. Only 9% of the respondents indicated that poor work-life balance would not influence their lives in a negative way. The respondents also differ in their opinions on what is needed in order to combine work and personal life successfully: 23% indicated setting goals, priorities, and distributing resources; 18% indicated setting clear boundaries between work time and personal time; 13% suggested having a job that is interesting and corresponds to individual expectations. Based on those opinions and the data of contemporary studies, the term “work-life balance” can be defined as ability to manage one’s resources in effective ways, providing necessary time for activities in each of the principal life domains, and having an interesting job with good working conditions. The subjective experience of work-life balance can be seen as a feeling of inner harmony and calm.