The U.S. Department of Education collects faculty salary data from all accredited postsecondary institutions. The early-release version of this data is the basis of this report. Data include only public and private not-for-profit degree-granting institutions (3,275 institutions). Only 9/10 month faculty members' salaries are reported unless otherwise noted. Most such faculty taught at public institutions (71%). Among baccalaureate institutions, however, private institutions employed more faculty members than public institutions, at 20,789 compared with 7,711. Professors make up the largest share (29%) of faculty members. Only 15% of all faculty members are employed on 11/12 month contracts. In constant 2002-2003 dollars, this year's average salary is 5% higher than the 1972-1973 salary level. This continues an upward trend that began in 1997-1998. In 2002-2003, the average salary for faculty at public doctoral institutions was $66,734, some $9,940 less than the $76,674 earned by those who taught in private doctoral-granting institutions. Perennially, women in academe have earned less than their male counterparts; this trend continued in 2002-1003. The highest average salary for public faculty members by state was in California, and the lowers-paid faculty members were in North Dakota. Overall, faculty members were better off than they were in 1972-1973, but the gains were not evenly distributed. (SLD)