This study examines the impact of individual differences, specifically self-efficacy, perceived collective efficacy and tolerance for the discomforts associated with change, on readiness for change among business school faculty and administrators. Our study is based on 489 survey responses by faculty and administrators across a representative sample of U.S. business schools. Our findings suggest that self-efficacy is an important factor in predicting readiness for change. Further, our results indicate perceived collective efficacy positively mediates the relationship between self-efficacy and readiness for change. Surprisingly, we found that some forms of discomfort such as increased workload, changing relationships, and decreased job security actually increase readiness. However, as the level of frustration and anger about the impact of change increases, we saw a dramatic reduction in readiness. This research suggests that business school leaders can feel comfortable asking faculty and administrators to accept some level of discomfort associated with change, but leaders and change agents must be mindful not to overstretch the faculty’s tolerance or they risk turning the positive effect of efforts to stretch into a strongly adverse effect on readiness for change.