Gender equity in education has certainly improved since the 1960s, when women faced barriers such as quotas limiting their numbers. Indeed, in recent years, women have surpassed men in their persistence and success as college students: They now receive about 60 percent of bachelor's degrees. But even though women now have full access to education, they are disadvantaged with respect to the outcomes of education. At every level of academic achievement, women earn less than men. One year out of college, women working full time earn 80 percent of what their male counterparts make, and ten years later, it is only 69 percent. The authors focus on one manifestation of this problem: the funneling effect in academia. The proportions of female faculty and staff drop with each step up the ranks, until institutions end up with very small percentages of female full professors and administrators. This situation has improved somewhat over the years, but the funnel still largely remains. In this article the authors propose an index that could help universities monitor the representation of women in key positions. It is an adaptation of an existing index of gender equity in countries, converted for university use. (Contains 2 tables and 20 resources.)