In order to test two competitive theories, human capital theory and screening hypothesis, this article investigates the effects of minor, class rank and matched job on the starting wages of graduates using data sources from a nation-wide survey of university graduates in China undertaken in 2003 by the Graduate School of Education, Peking University. The empirical results show that minor, class rank, and matched job do not have significantly positive impacts on the starting wages of graduates in China. We conclude therefore that the present role of higher education is more likely to be informative than productive. (Contains 4 tables.)