This study investigates female undergraduates' aspirations for master's and doctoral degree programs in Taiwan's universalized and stratified higher education system. It considers the potential effects of economic prospects, parental attitudes, and gender values. First, graduate education is perceived as a means to enhance one's comparative advantages in the competitive labour market. Secondly, parental expectations and women's aspirations seem to decline with education level. They are higher for a master's education and much lower for a doctoral education, implying the influence of family background and traditional gender values, despite some improvements. Finally, specialization and university ranking also substantially affect women's aspirations for graduate education. (Contains 1 table.)