Factors important to faculty mobility decisions are identified based upon the concept of grants economics. This approach makes two assumptions: that a faculty member's market value can be determined and that it is independent of local labor market conditions. Several thousand faculty members in the social, biological, and physical sciences and engineering who had changed jobs since 1970 were surveyed in 1977 to identify the causes of immobility and those psychic benefits that were important in faculty moves. Geographical preferences appeared to be more important than salary in mobility decisions. In terms of actual job changes, there seemed to be some tradeoffs of salary for other desirable job traits. High levels of institutional prestige, opportunity for creativity and scholarly pursuits, and autonomy are characteristics for which faculty members will sacrifice income. They will require higher salaries if smaller amounts of these traits exist. In most cases, desirable jobs provide both high salaries and large amounts of nonmonetary benefits. (SW)