Effective school leadership is crucial to a school's success. Yet throughout the world, attracting and retaining qualified school leaders is often a formidable challenge. To discern ways in which we may recruit and retain competent school leaders, this study compares the extent to which principals in three industrialized countries, China, Germany and the USA, value the characteristics of their positions as principals. Survey responses of principals in these three countries reveal many factors that gratify and some factors that disappoint principals about their work environments. Comparing the similarities and differences of the principals' responses in these countries provides insights into ways in which we may learn from each other about the factors that influence the recruitment and retention of qualified principals.