The national media and academic journals have reported a sizable wage gap between men and women in academe--a gap that has persisted over time. Data from the National Center for Education Statistics for 2004-2005 show that the average salary for all male faculty ($69,337) exceeded the average salary for female faculty ($56,926) by almost 22%. Although some of the total wage gap by gender is due to the higher concentration of males at the full professor rank, recent national comparisons of average faculty salaries published by the American Association of University Professors (AAUP) showed that the gender pay gaps persist within ranks. Similar concerns have also been raised about the relative pay for faculty by race. Due to the relatively small numbers of non-White faculty, however, there is little evidence reported on their total wage gaps. The limited information to date suggests that the total wage gaps between faculty by race are smaller than is true in the general labor market outside of academia. In this study, the authors use national data on faculty from four iterations of the National Study of Postsecondary Faculty (NSOPF), including the 2004 survey (released in 2006), to examine three main research questions: (a) Do unexplained wage gaps exist for recently hired faculty and/or do they expand over one's career?; (b) Have the unexplained wage gaps for recently hired faculty changed over the past 16 years?; and (c) Do the patterns in the unexplained wage gaps differ by gender and race? By using survey data from multiple surveys, the authors can examine these questions in ways that would not be possible using only one cross-sectional survey or longitudinal data for one institution. They define "recently hired faculty" as assistant professors who are new to the profession and were hired within three years of the survey. This approach allowed them to obtain sufficient sample sizes to determine whether there is evidence of pay discrimination by gender and race for faculty close to the time of hire and how selected characteristics affect starting pay. (Contains 1 figure, 5 tables, and 2 footnotes.)