Improving schools depends on attracting talented teachers and fostering retention, both made possible by appealing to teacher preferences. I deploy a discrete-choice experiment in a setting where teachers have reason to reveal their preferences. Those data allow me to calculate willingness-to-pay for a comprehensive set of workplace attributes including salary structure, retirement benefits, performance pay, class size, and time-to-tenure. Schools can improve the appeal of teaching by shifting compensation into vehicles with greater WTP-to-cost ratios. Highly rated teachers have stronger preferences for schools offering performance pay, which may be used to differentially attract and retain them. Under various criteria, schools seem to underpay in salary and performance pay while overpaying in retirement benefits.