The present study examined how teacher preparation programs and class- and school-level factors impact teacher employment. Using a sample of 121 early-career teachers from four school districts, we examined the effect of a job-embedded master's level teacher-preparation program, in combination with several other factors, on whether or not they continued to teach the same subjects at the same school after two years. Although the program had only a small, non-significant effect, the district in which teachers were employed was related to retention. Given that only 42% of our cohort returned to teach for a third year, it is evident that we must continue to find ways to reduce teacher turnover.