Teacher leadership has been studied in the United States for 30 years, but less is known about American graduate programs that purport to prepare teacher leaders. Furthermore, the federal No Child Left Behind Act of 2001 prompted a closer look at teacher effectiveness, which then shifted the definition of teacher leadership and caused some scholars to question the connection. This paper describes a conceptual/qualitative investigation that first identified criteria for teacher leadership and teacher effectiveness in graduate programs. Using online resources, we identified 21 graduate teacher leadership programs in America. Using website material and interviews, we explored how they addressed teacher leadership versus teacher effectiveness. The 21 programs were sorted into five categories, which revealed a spectrum of responses to the teacher effectiveness agenda as well as other market forces. (Contains 1 note.)