The question of whether the market for administrators is segmented by institutional types (i.e., region, affiliation, size, mission, and resource level) was investigated. One facet of the research was the applicability of segmentation theory to the occupational labor market for college managers. Principal data were provided by career histories of a national sample of 2,896 administrators obtained as part of Pennsylvania State University's Leaders in Transition project. A second database provided information for 3,441 higher education institutions. Variables of concern included: four geographic regions; affiliation as either public, private, Protestant, or Catholic; size of enrollment; mission as defined by the 1976 Carnegie Commission on Higher Education codes; and resource level as determined by the ratio of total revenue divided by enrollment. A set of job transition matrices charted career moves of the sample of administrators separately by the five variables. Separate analyses were undertaken for administrators who changed institutions and those who changed jobs but not institutions. Findings for managers who changed institutions include: a strong preference for intra-regional moves; and a significant tendency toward intra-affiliation category transitions, with distinct barriers to movement between some subgroups. (SW)