The recruitment crisis for teachers in England has led to policy reforms which have significantly deregulated the sector, introduced market mechanisms to mimic aspects of the private sector and set providers in competition with one another. Leaders in Initial Teacher Education (ITE), from both schools and universities in England, were interviewed to understand their experiences of working in this policy context. Responses are analysed to reveal an emerging hierarchy in ITE provision. The research uses Bourdieu's theoretical and methodological frame to make sense of the current field of ITE and conceptualises the providers as 'agents' working in the field who use capital to improve their position in the market. Teacher recruitment remains in crisis, and findings suggest that current reforms, rather than solving recruitment problems, are creating complex and unequal playing fields for both providers and applicants, which may be contributing to the continued crisis.