The McKinsey report on why Canada, Japan, South Korea, Finland and Singapore are the best:
You might think that schools should offer as much money as possible, seek to attract a large pool of applicants into teacher training and then pick the best. Not so, says McKinsey. If money were so important, then countries with the highest teacher salaries—Germany, Spain and Switzerland—would presumably be among the best. They aren't. In practice, the top performers pay no more than average salaries.
...South Korea shows how the two systems produce different results. Its primary-school teachers have to pass a four-year undergraduate degree from one of only a dozen universities. Getting in requires top grades; places are rationed to match vacancies. In contrast, secondary-school teachers can get a diploma from any one of 350 colleges, with laxer selection criteria. This has produced an enormous glut of newly qualified secondary-school teachers—11 for each job at last count. As a result, secondary-school teaching is the lower status job in South Korea; everyone wants to be a primary-school teacher. The lesson seems to be that teacher training needs to be hard to get into, not easy.
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