This is the second of two papers prepared for a special panel session of the National Collaborative Task Force on Engineering Graduate Education Reform that is focusing one of its primary tasks on faculty reward system reform. Founded in 2000, the National Collaborative Task Force is an initiative of the ASEE-Graduate Studies Division, Corporate Members Council, and College Industry Partnership Division. The National Collaborative is comprised of leaders from industry, academia, and government all coming together to advance professional engineering graduate education for the advancement of engineering practice in the national interest to enhance U.S. competitiveness. Using the findings of the 2005 Task Force panel, 1,2,3 which investigated the commonality of faculty reward systems in other professions such as law, this papersuggests parallel criteria for professionally oriented faculty reward systems in engineering and technology education that complement scientific research and that better support the professional scholarship, teaching, and engagement functions of engineering practice for technology development & innovation.