This article explores the changing context of school leadership in our nation, a context that requires education leaders who are skilled and knowledgeable with a new set of dispositions to lead complex, diverse, and innovative institutions. The article also discusses recent critiques of existing leadership preparation programs, with emphasis on what has been said about the Ed.D. and Ph.D. degrees in educational leadership. Data are provided about trends in advanced degree offerings in higher education institutions, and the mission statements of top-ranked graduate programs in education leadership are assessed. Finally, the article discusses the consequences that these trends, critiques, and the changing context of school leadership might have upon the design and delivery of leadership preparation programs for current and aspiring school leaders. (Contains 2 figures and 4 footnotes.)