The purpose of this article is to explore why work-experienced students with up to 20 years of experience may not change their perception of professional practice when subsequently participating in practice-based learning programmes in higher education. We investigated the role of the degree of codification as operationalisation in how students choose theories to solve a practical management problem. When selecting a theory, work-experienced students may overlook the degree of codification in the theory that enables its use as an analytical tool. Previous research on novices or work-experienced students has not investigated their learning outcomes considering the features of theories students need to apply. Research findings indicate that students’ understanding of theories affects their selection of theories and their problem-solving practice. This study extends previous research on work-experienced students’ learning and contributes to the international discussion on why work-experienced students encounter difficulties in professional and practice-based learning in higher education.