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The UK Association of University Teachers conducted a 2000/01 survey of staff in six British universities to determine the experience of lesbian, gay and bisexual (LGB) employees holding academic and non-academic appointments. We analyse the salaries and ranks held by LGB individuals, guided by a new model of the interaction of ‘tastes for discrimination’ and the decision to ‘come out’. We find no evidence that LGB staff suffer any disadvantage in salaries relative to heterosexuals. We do find evidence that gay/bisexual men suffer from glass ceilings comparable to those faced by heterosexual women.