The ways in which cooperating teachers give shape and meaning to their work in practicum settings is one of the most critical elements of initial teacher education. This international comparison draws upon surveys of Australian and Canadian cooperating teachers. The global contrast highlights taken-for-granted assumptions in local settings that in some instances are cause for celebration and in other instances concern. The comparison of the two settings illustrates, among other things: some striking similarities in the profiles of cooperating teachers; important differences with respect to the cooperating teachers' preparation and remuneration for their role in practicum settings; and deeper complexities regarding the relationship between schools and universities. (Contains 10 tables.)