A study was undertaken to compare the compensation (salary, benefits and perquisites) of faculty and senior administrative personnel in Ontario universities with that of professionals in the private and public sectors. For senior, non-academic administrative personnel, the major findings were that: compensation practice across the 13 universities is sufficiently uniform that it is possible to generalize about the community as a whole; the most analogous positions are within the private sector rather than within government; and average total compensation is below the private sector average, with benefits as the only competitive component of the compensation package, and perquisites virtually non-existent. For faculty, the major findings were that: (1) there is essentially one academic job, the tripartite task of scholarship/research, teaching and service; (2) there are no analogous positions in the public or private sectors, but there are positions of equivalent job size; (3) as the role of the professor can be defined only within the context of the university, it is an organizational position; therefore, faculty compensation is compared with that of professional employees but not self-employed professionals; (4) on the basis of measured job content, compensation for academics at career midpoint falls below that of the comparator groups; (5) starting salaries for academics are considerably lower that those for jobs of equivalent size in the public and private sectors; (6) the high age threshold, low starting salaries and extended probation and maturation period combine to have a negative impact on career earnings of faculty; and (7) the "pay for maturity" practice results in a high correlation between age and compensation. (Author/KM)