This report from The Education Trust examines faculty diversity relative to student diversity, as well as hiring equity, tenure equity, and changes in faculty representation over time for Black and Latino/a faculty at public, 4-year institutions. It highlights colleges and universities that are making progress on diversifying their faculties and those that have more work to do. Findings show that Black and Latino/a faculty are severely underrepresented at most public, 4-year colleges and universities. To improve faculty diversity, the authors recommend that colleges and universities examine their hiring and retention practices, improve campus racial climates, and make resources available to faculty members of color, so they can build and hone their skills and find community. Although the report does not focus specifically on educator preparation programs, the report has implications for both teacher and leader preparation.