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With the acceleration of principal turnover in recent years, this study utilizes multinomial logistic regressions with region fixed effects to examine how working conditions influence the probability of different types of principal turnover, while controlling for principal characteristics and school context. Based on the 2011-2012 Schools and Staffing Survey and the Principal Follow-up Survey sponsored by National Center for Education Statistics (NCES), this study found that principals with a higher salary, beneficial contract, tenure system, professional training, safer school conditions, and more autonomy are less likely to more or leave. This study could assist policy makers in providing adequate resources and creating positive working environments in order to develop, support, and retain principals for school success.