diff --git a/src/lib/select/index.ts b/src/lib/select/index.ts
index bf5f903905fb..83fcb32d6747 100644
--- a/src/lib/select/index.ts
+++ b/src/lib/select/index.ts
@@ -8,7 +8,7 @@
 
 import {NgModule} from '@angular/core';
 import {CommonModule} from '@angular/common';
-import {MdSelect, MD_SELECT_SCROLL_STRATEGY_PROVIDER} from './select';
+import {MdSelect, MdSelectTrigger, MD_SELECT_SCROLL_STRATEGY_PROVIDER} from './select';
 import {MdCommonModule, OverlayModule, MdOptionModule} from '../core';
 
 
@@ -19,8 +19,8 @@ import {MdCommonModule, OverlayModule, MdOptionModule} from '../core';
     MdOptionModule,
     MdCommonModule,
   ],
-  exports: [MdSelect, MdOptionModule, MdCommonModule],
-  declarations: [MdSelect],
+  exports: [MdSelect, MdSelectTrigger, MdOptionModule, MdCommonModule],
+  declarations: [MdSelect, MdSelectTrigger],
   providers: [MD_SELECT_SCROLL_STRATEGY_PROVIDER]
 })
 export class MdSelectModule {}
diff --git a/src/lib/select/select.html b/src/lib/select/select.html
index 250d37f2079e..86a090bcca31 100644
--- a/src/lib/select/select.html
+++ b/src/lib/select/select.html
@@ -11,8 +11,12 @@
     [@transformPlaceholder]="_getPlaceholderAnimationState()"
     [style.opacity]="_getPlaceholderOpacity()"
     [style.width.px]="_selectedValueWidth"> {{ placeholder }} </span>
+
   <span class="mat-select-value" *ngIf="_hasValue()">
-    <span class="mat-select-value-text">{{ triggerValue }}</span>
+    <span class="mat-select-value-text" [ngSwitch]="!!customTrigger">
+      <span *ngSwitchDefault>{{ triggerValue }}</span>
+      <ng-content select="md-select-trigger, mat-select-trigger" *ngSwitchCase="true"></ng-content>
+    </span>
   </span>
 
   <span class="mat-select-arrow"></span>
diff --git a/src/lib/select/select.md b/src/lib/select/select.md
index 4e683475ebda..46f60b95a22f 100644
--- a/src/lib/select/select.md
+++ b/src/lib/select/select.md
@@ -72,6 +72,16 @@ Global default placeholder options can be specified by setting the `MD_PLACEHOLD
 })
 ```
 
+### Customizing the trigger label
+If you want to display a custom trigger label inside a select, you can use the `md-select-trigger` element:
+
+```html
+<md-select placeholder="Favorite food" #select="mdSelect">
+  <md-select-trigger>You have selected: {{ select.selected?.viewValue }}</md-select-trigger>
+  <md-option *ngFor="let food of foods" [value]="food.value">{{ food.viewValue }}</md-option>
+</md-select>
+```
+
 Here are the available global options:
 
 | Name            | Type    | Values              | Description                               |
diff --git a/src/lib/select/select.spec.ts b/src/lib/select/select.spec.ts
index b34f502d9f71..6f7e382e2a58 100644
--- a/src/lib/select/select.spec.ts
+++ b/src/lib/select/select.spec.ts
@@ -74,7 +74,8 @@ describe('MdSelect', () => {
         BasicSelectWithoutForms,
         BasicSelectWithoutFormsPreselected,
         BasicSelectWithoutFormsMultiple,
-        SelectInsideFormGroup
+        SelectInsideFormGroup,
+        SelectWithCustomTrigger
       ],
       providers: [
         {provide: OverlayContainer, useFactory: () => {
@@ -951,7 +952,6 @@ describe('MdSelect', () => {
 
   });
 
-
   describe('animations', () => {
     let fixture: ComponentFixture<BasicSelect>;
     let trigger: HTMLElement;
@@ -2529,6 +2529,21 @@ describe('MdSelect', () => {
       expect(panel.classList).toContain('mat-warn');
     });
 
+    it('should allow the user to customize the label', () => {
+      fixture.destroy();
+
+      const labelFixture = TestBed.createComponent(SelectWithCustomTrigger);
+      labelFixture.detectChanges();
+
+      labelFixture.componentInstance.control.setValue('pizza-1');
+      labelFixture.detectChanges();
+
+      const label = labelFixture.debugElement.query(By.css('.mat-select-value')).nativeElement;
+
+      expect(label.textContent).toContain('azziP',
+          'Expected the displayed text to be "Pizza" in reverse.');
+    });
+
   });
 
   describe('reset values', () => {
@@ -3212,3 +3227,24 @@ class BasicSelectWithoutFormsMultiple {
 
   @ViewChild(MdSelect) select: MdSelect;
 }
+
+@Component({
+  selector: 'select-with-custom-trigger',
+  template: `
+    <md-select placeholder="Food" [formControl]="control" #select="mdSelect">
+      <md-select-trigger>
+        {{ select.selected?.viewValue.split('').reverse().join('') }}
+      </md-select-trigger>
+      <md-option *ngFor="let food of foods" [value]="food.value">
+        {{ food.viewValue }}
+      </md-option>
+    </md-select>
+  `
+})
+class SelectWithCustomTrigger {
+  foods: any[] = [
+    { value: 'steak-0', viewValue: 'Steak' },
+    { value: 'pizza-1', viewValue: 'Pizza' },
+  ];
+  control = new FormControl();
+}
diff --git a/src/lib/select/select.ts b/src/lib/select/select.ts
index 7a53b46b53c9..169e870f6934 100644
--- a/src/lib/select/select.ts
+++ b/src/lib/select/select.ts
@@ -9,6 +9,7 @@
 import {
   AfterContentInit,
   Component,
+  ContentChild,
   ContentChildren,
   ElementRef,
   EventEmitter,
@@ -27,6 +28,7 @@ import {
   Inject,
   ChangeDetectionStrategy,
   InjectionToken,
+  Directive,
 } from '@angular/core';
 import {NgForm, FormGroupDirective} from '@angular/forms';
 import {MdOption, MdOptionSelectionChange, MdOptgroup} from '../core/option/index';
@@ -147,6 +149,16 @@ export class MdSelectBase {
 }
 export const _MdSelectMixinBase = mixinColor(mixinDisabled(MdSelectBase), 'primary');
 
+
+/**
+ * Allows the user to customize the trigger that is displayed when the select has a value.
+ */
+@Directive({
+  selector: 'md-select-trigger, mat-select-trigger'
+})
+export class MdSelectTrigger {}
+
+
 @Component({
   moduleId: module.id,
   selector: 'md-select, mat-select',
@@ -293,6 +305,9 @@ export class MdSelect extends _MdSelectMixinBase implements AfterContentInit, On
   /** Classes to be passed to the select panel. Supports the same syntax as `ngClass`. */
   @Input() panelClass: string|string[]|Set<string>|{[key: string]: any};
 
+  /** User-supplied override of the trigger element. */
+  @ContentChild(MdSelectTrigger) customTrigger: MdSelectTrigger;
+
   /** Placeholder to be shown if no value has been selected. */
   @Input()
   get placeholder() { return this._placeholder; }