The OECD Teaching and Learning International Survey (TALIS) collects internationally comparable data on the learning environment and the working conditions of teachers and principals in schools across the world. TALIS 2018 is the third cycle of TALIS, and Australia has participated in each cycle. In Australia, a nationally representative sample of 4,000 teachers and principals from 200 lower secondary schools was randomly selected to participate in the study. Findings from TALIS 2018 in Australia are reported in two volumes. The first volume, Teachers and School Leaders as Lifelong Learners, published in November 2019, explored teaching practices, the changing contexts for teaching and the knowledge and skills dimensions of professionalism for teachers and school leaders. This second volume, Teachers and School Leaders as Valued Professionals, explores the prestige and standing of the profession, the security, flexibility and reward structures of teaching and school leadership careers, the extent of professional collaboration and collegial relations within schools, and the degree of autonomy and leadership that teachers and school leaders have in their jobs. The primary focus of these reports is the responses from lower-secondary teachers and school leaders. Data for primary teachers, where available and appropriate, is also included.