Background: Studies addressing pay discrimination for females in education have relied on main effect regression models, mostly examining amount (intercept values) rather than rate of pay (slope coefficients). Purpose: The purpose is to determine if organizational characteristics and human capital endowments purported to influence pay are facially neutral (amount of pay) or have a disproportional impact (rate of pay) for female middle school principals. Setting: The population is all California public middle school principals, who are stratified by sex and randomly selected through a sampling process that includes only a single principal from any school district. Research Design: A hierarchical regression design is used to assess main effects for organizational characteristics and human capital variables (amount) and interaction effects (rate) of these variables and a residual effect for sex. Data Collection: Organizational characteristics for school districts and school buildings were obtained from a state database, and human capital endowments and information for pay were assessed via survey self-reports of principals. Findings: Organizational and human capital variables are facially neutral and account for substantial variance in pay amount ( R[squared] = 0.44, p [less than or equal to] 0.01). None of the interaction terms ([delta]R[squared] = 0.02, p [greater than or equal to] 0.05) reflect a disproportional impact (rate of pay) for females, and the residual sex coefficient is nonsignificant ([delta]R[squared] = 0.00, p [greater than or equal to] 0.05). Conclusions: These findings differ from existing research suggesting pay discrimination on the basis of sex at the school building level but may do so because of methodological advancements and/or a temporal effect. (Contains 4 tables.)