This paper proposes a five-step process by which to analyze whether the salary ratio between junior and senior college faculty exhibits salary compression, a term used to describe an unusually small differential between faculty with different levels of experience. The procedure utilizes commonly used statistical techniques (multiple regression analysis and hypothesis tests of a population mean), and is flexible with regard to model specification. In this methodology, "junior faculty" were defined as all assistant professors with less than four years of seniority, while "senior faculty" were those with more than four years of seniority who began their career at the institution (thus excluding faculty hired directly at either the Associate or Full Professor ranks). Application of the methodology to faculty data in academic year 1990-91 from the University of Minnesota found that the average salaries paid to junior faculty were not above what would be predicted if all faculty were compensated similarly for their qualifications. (Contains 22 references.) (BF)