This paper describes the importance of group experience in relation to affect regulation for the individual and the group. After surveying work that has significantly influenced the psychoanalytic perspective on the group, the author illustrates how group experience can be a key affect regulator during some developmental phases and can have an important role in development of a person's identity. From an intersubjective perspective, the author emphasizes how group identity is attained through shared and repeated expectations that regulate the affective life of the group—what he calls group organizing principles. Last, using clinical examples, the author emphasizes the importance of affect regulation and the creation of expectations and group organizing principles in the therapeutic arena.