This study looked at future demand for faculty at institutions of higher education by developing a larger and more sophisticated model of faculty demand than previously used and by examining faculty separation and hiring patterns among independent colleges and universities. All members of the Higher Education Data Sharing Consortium (125 independent colleges and universities in the nation that collaborate on comparative research studies) were invited to contribute data to the study which consisted of two parts: an institutional survey of faculty separation and hiring practices and a faculty data base. Additional qualitative data from a survey of department chairs and an annual Senior Survey were obtained at Franklin and Marshall College only. The major findings indicated that the rate of faculty retirements is projected to increase significantly over the next 20 years with the largest wave of retirements projected to occur from 1999 through the first decade of the next century. In addition, the amount of faculty hiring activity will increase significantly in the years ahead, but due to other factors, the net impact on national supply may be sharply attenuated. Included are 12 tables, 18 charts and 14 references. (JB)