Transconductance (gm)
Beginner
How much the current changes when the gate voltage changes a little. Higher means the transistor reacts more strongly.
Novice
The slope of the drain current versus gate voltage: , measured in siemens. It tells you how much extra current one more millivolt on the gate buys.
Expert
. In the square law ; when fully velocity-saturated it tends to , independent of . The ratio peaks in subthreshold at .