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This paper examines the determinants of teacher turnover using matched employee-employer panel data from Swedish lower and upper secondary schools in a market-oriented institutional environment with a growing private sector and individually negotiated wages. I find statistically significant and robust negative correlations between mobility and monetary compensations. Unlike previous research, I do not find robust evidence that the share of minorities correlates positively with turnover. The positive association exists; however, in the case of private and upper secondary institutions. Finally, private institutions experience higher turnover.