A preliminary report on the economic standing of American academics, based primarily on a national survey of faculty conducted in the spring of 1977, is presented. The economic position of professors is compared to other segments of the population, and income differences within the faculty are also examined. It is shown that since 1970-71, faculty salary increases have fallen behind the increases in salaries of workers in general. The survey showed the medium base salary of academics to be $18,500 in 1976-77, while the medium family income of the general public in 1976 was $14,958. It was found that one quarter of the total faculty surveyed reported that they earned 20 percent over and above their institutional base, while another fourth earned 10 or 19 percent above it. With lower base salaries and fewer chances for supplementary income, the faculty do better than natural scientists, and professors in the professional fields do the best of all. Statistical data are appended, including data on supplementary earnings of faculty. (SPG)