Achieving tenure and promotion are significant milestones in the career of a university faculty member. However, research indicates that racialized and female faculty do not achieve tenure and promotion at the same rate as their non-racialized and male counterparts. Using new survey data on faculty in eight Canadian universities, this article examines differences in being tenured and promoted between racialized and non-racialized faculty and between female and non-female faculty. It also investigates the extent to which explanations of human capital theory and cultural or identity taxation account for these disparities. Logistic regression confirms that controlling for human capital and cultural or identity taxation washes away the differences between being tenured and promoted for female faculty. Differences for racialized faculty remain, offering evidence of racial discrimination in the academic system.