This paper presents the annual report of the American Association of University Professors on the economic status of the profession for 2010-2011. This analysis of the economic status of the faculty begins with results from this year's annual survey of full-time faculty compensation. Survey report table 1 presents the most basic results, while table A places these results in historical perspective. The tables report two different measures of the change in full-time faculty salaries: the change in average salary levels, which is a measure of the change from the previous year in what a typical faculty member might earn, and the average change for a faculty member continuing in employment at the same institution (that is, the average raise a faculty member might expect if he or she does not move). The first of these figures is calculated only for institutions that submitted data both this year and last. The overall increase in salary level, reported on the left side of survey report table 1 and the upper half of table A, was 1.4 percent between 2009-10 and 2010-11. The overall picture this year, then, is of mostly stagnant salaries for full-time faculty members. The numbers vary considerably across institutional types. But aggregate faculty salary levels did not keep up with inflation in the past year, and the cumulative increase during the last seven years lagged behind the cumulative increase in median earnings for all US workers. (Contains 3 figures, 22 tables and 9 notes.)