Using rich longitudinal data from one of the largest teacher education programs in Texas, we examine the measurement of pre-service teacher (PST) quality and its relationship with entry into the K-12 public school teacher workforce. Drawing on rubric-based observations of PSTs during clinical teaching, we find that little of the variation in observation scores is attributable to actual differences between PSTs. Instead, differences in scores largely reflect differences in the rating standards of field supervisors. We also find that men and PSTs of color receive systematically lower scores. Finally, higher-scoring PSTs are slightly more likely to enter the teacher workforce and substantially more likely to be hired at the same school as their clinical teaching placement.