As universities and colleges have changed, so has the role of faculty. Greater accountability is expected for faculty time and effort. This paper considers faculty roles by the institution preparing new faculty, the institution hiring new faculty, and the new faculty member themselves. All institutions are seeking faculty who are triple threats: integrate discovery, learning, and engagement; increase and maintain knowledge and technology; and involve students in their professional lives. Institutions preparing new faculty must develop models that stress not only quality research, but address the balance of faculty roles. Hiring institutions must select new faculty so that interest and balance match institutional goals. New faculty must understand what they want from academic life and seek appropriate institutions. (Contains 1 table and 3 figures.)