Performance pay, hard-to-staff incentives, and other special payments combined make up only 1% of the teacher pay “pie” nationally. With school budgets tight, the prospects of new, long-term infusions of funds for alternative forms of teacher compensation are bleak. For districts and states eager to reform teacher pay, then, the only viable, sustainable strategy is to “re-slice the teacher compensation pie”—reducing the amount of funding that goes to reward master’s degrees, experience beyond the first five or so years, and other qualifications that research suggests are unrelated to student learning. This presentation shows how re-slicing—whether modest or bold—could dramatically increase the resources available to pay teachers for their contributions to student learning.