Asian Americans have become a focus of racial studies for the last four decades. Regarding the outcome in the labor market, prior research often addresses the performance of Asian American men. Asian American women are less frequently studied. I use the 2003 National Survey of College Graduates to investigate earnings differentials between white and Asian American women. I disaggregate Asian American women by their generational status, educational level, college type and field of study. The results show that none of Asian American women groups show earnings advantage compared to Whites. Field of study, college type, and region of residence on top of usual earnings determinants such as education and age fully explain the earnings difference between Asian American women and Whites. The earnings differences between Asian American women and Whites vary across generational status.