Orientation of teacher preparation toward the development of competence has recently been suggested as a worthwhile direction of change in teacher education in the Western Balkan countries. In this study, 2,354 teachers, teacher educators, and student teachers from Bosnia and Herzegovina, Croatia, Macedonia, Montenegro, and Serbia responded to a questionnaire about the importance of four groups of teacher competencies: (1) self-evaluation and professional development; (2) subject knowledge, pedagogy, and curriculum; (3) understanding of the system of education and contribution to its development; and (4) values and child rearing. We compare the responses about the importance of these four groups across the five countries. The results are discussed with regard to their implications for reforms in teacher education policies and programs in contexts of decentralizing education systems. (Contains 4 tables and 10 footnotes.)