While data on the representation of academic women in Australian universities has been monitored since the mid-1980s, little is known about how their representation has changed since a study undertaken in the mid-2000s (Winchester, Lorenzo, Browning, & Chesterman, 2006). To determine how academic women are currently represented in Australian universities, and particularly in research positions, we examined the most recent comparative data by academic level over time, and in research positions. We found that the increase in representation of women in academic positions in Australian universities was dramatic between 1985 and 2005. It has been slower but consistent since then, to the level where minimal further change is expected as parity has almost been achieved. Women currently hold almost half of the academic research-only positions and a third of deputy vice-chancellor (DVC) roles with responsibility for the research portfolio, while comprising less than a quarter of the professoriate. Although representation has been on an upward trajectory, closer examination of the data indicates that women may be clustered at the lower levels in research-only positions, in the same way as all academic women were clustered at the junior levels almost three decades ago. Our study of women in research is particularly timely as the academic workforce in universities is dominated by baby-boomers who will eventually retire, and women will, therefore, have increased opportunities over the next 10-20 years to take up those positions inevitably vacated by the baby-boomers.