This article reports a study designed to identify the factors that both hiring bodies and applicants believe are most important when making decisions about principal selection, appointment and acceptance. Based on a quantitative study involving the four main groups of players in the principal selection process, we confirmed a four-factor structure. In order of importance the four factors were, "Generic Managerial Skills," "Communication and Presentation Skills," "Experience and Credence," and "Religious Affiliation and External Connection." The fourth factor is rarely mentioned in the literature. The findings indicate a shift in the role expectation of principals from educational leaders to administrative managers. Findings also challenge the use of interviews as the sole principal selection mechanism. (Contains 3 tables.)