Social, political, economic, and technological changes in American society that affect higher education, characteristics of faculty careers, and the concept of faculty career development are considered. It is suggested that societal changes and the colleges' attempts to secure institutional vitality have resulted in dramatic changes in faculty careers, including reduced academic rewards, increased teaching loads, and elimination of departments and programs. To understand the needs and hopes of the faculty better, the current research on life cycles and career stages is reviewed. Characteristics of an academic career that differentiate it from other careers are also considered, including the following: a poorly defined professional identity and a long period of preparation that focuses on research and ignores teaching. In addition, five stages of personality development of college faculty are identified, along with psychological outcomes of a faculty career. Traditional faculty development programs focusing on academic or scholarly development are distinguished from faculty career development, which includes faculty retraining in new high-technology disciplines, helping faculty move into the corporate world, and early retirement incentives. Implications for the future are briefly addressed, and a bibliography is appended. (SW)