This mixed-methods study was conducted to explore the professional opinions of educational leaders regarding selected components in the Race to the Top (RTTT) grant concerning teacher evaluation and compensation and the potential impact on student achievement. A target university was selected that had students who were professionals in the field of education in either instructional or administrative jobs and were pursuing their doctorates in both Education and Educational Leadership. A researcher created survey and follow-up interview were utilized to gather both quantitative and qualitative data for analysis. Quantitative findings revealed that statistically significant differences in the opinions of educational leaders about the potential impact of the RTTT grant teacher evaluation and compensation components on student achievement existed between two types of professional classification (instructional or administrative). No statistically significant relationship was found between self-reported knowledge of the RTTT and opinions of the fairness of the RTTT teacher evaluation and compensation components. Also, no statistically significant difference was found in the professional opinions about the potential impact of the RTTT grant teacher evaluation and compensation components on student achievement when self-reported school poverty percentage was considered. From qualitative findings, themes emerged surrounding the uncertainty and lack of understanding about the RTTT grant’s implementation. Though this study provided baseline data on the opinions of educational leaders on the RTTT teacher evaluation and compensation components, there is still much to be learned about the RTTT grant.