PurposeThe purpose of this paper is to argue that current ways school systems have addressed social mobility is misguided at best and, at worst, hurts social mobility. Instead, we call for a focus on investment in teachers' professional capital as a primary lever for enhancing the likelihood they can effectively prepare and develop all children to lead successful lives after school. These arguments have become even more pertinent with the COVID-19 pandemic.Design/methodology/approachUsing contemporary research, and grounded in our collective decades of research in these areas, we define social mobility and document how the aim of improving it has become a central tenet of our governments' stated ambitions and the yardstick by which school systems' success is measured. We then show how the application of market-based approaches to schools and teachers' work has hindered social mobility and offer a new path forward.FindingsAfter 50 years of neoliberal policies incentivising individualistic and competitive behaviours, it is time to move towards policies that enhance professional capital and promote high quality collaboration between teachers. We call for a new path forward: a re-orientation to invest in teachers' capacity to realise the potential of education to improve the life prospects for all children, irrespective of their background.Originality/valueAs with so many issues, the COVID-19 pandemic has shone an intense light on the role of educators in society. There are credible concerns that economic and educational inequalities resulting from the crisis have the potential to trigger a fall in future social mobility levels. Yet this should also be seen as a new dawn for renewed thinking in which we seriously consider a shift away from neoliberal to professional capital policies to create an education system that nurtures teaching professionals, promotes collective behaviour and helps rather than hinders efforts to improve social mobility.