Principals, aspiring principals, and superintendents completed surveys investigating the state of the principalship in Indiana. Respondents rank-ordered selected skills and personal traits necessary to succeed as school principals. Perceived barriers for principal candidates were compared by group. A total of 581 principals, 55 aspiring principals, and 221 superintendents participated. Principals and aspiring principals considered honesty and leadership very important personality traits. They also believed that communication skills and instructional improvement were the most important factors in training principals, and they considered job stress, too much time required, and insufficient compensation the most important barriers. Superintendents and principals differed in how they rated the impact of barriers. Superintendents believed that the number one barrier to someone entering the principalship was too few experienced teachers interested in becoming assistant principals or principals. Job satisfaction among principals was high. A majority of principals did not plan to remain in the principalship beyond 10 years, though almost half intended to remain in their current positions until retirement. Average experience plus age indicated that a high percentage of principals were eligible for retirement. Three-quarters of aspiring principals thought their principalship preparation program had prepared them to succeed as principals. (Contains 25 references.) (SM)