Over the last two decades, international research collaborations have been growing significantly; however, it is unclear whether scientists in developing countries engage in collaboration with the same expectation as their counterparts in more developed countries. Using survey data of the USAID Partnership for Enhanced Engagement in Research (PEER) Program, this study found that North–South collaboration is a very productive experience for both types of scientists; however, scientists in developing countries perceive positive impact and benefits significantly more than their North partners. There are also significant differences in collaboration motivations, research environment, collaborative network development, and use of research results.