Through nine-year longitudinal data and two-level hierarchical linear models, this study found that African American students have a similar prospect for early career earnings whether they attended an historically Black college and university (HBCU) or an historically White college and university (HWCU). Regardless of the type of institution they attended, women respondents earned significantly less than male counterparts. Peer orientation of outside work during college was a negative predictor for career earnings. The analysis of supplemental data suggests that a higher percentage of African American students attending HBCUs reported strong growth in job-related skills and preparation for graduate/professional schools than their counterparts at HWCUs. According to the variability analysis, African Americans' early career earnings are most likely a function of individual assets or characteristics rather than of institutional characteristics. (Contains 2 tables.)