This paper analyzes the earnings of highly-skilled European immigrants in the United States
and the effect of their place of education. While most studies treat European immigrants as a
single group doing fairly well in the United States, this paper suggests that there is reason to
assume differences in return on education among European countries. Indeed, idiosyncratic
sociopolitical structures and heterogeneous education systems among European countries lead
to significantly different regional results. According micro data from the National Survey of
College Graduates (National Science Foundation) immigrants who received their degree in
either Eastern or Southern European countries earn less than natives along the lines of
economic assimilation theory. In contrast, and controlling for relevant variables, immigrants
from Western or Northern Europe earn up to 14 and 23 percent more than comparable nativeborn
Americans. These findings highlight how European degrees are valued and the extent to
which they prepare individuals to compete in international labor markets. From a broader
perspective considering the growing internationalization of education and increasing
competition for highly-skilled labor, the findings may provide valuable support to the Bologna
Process launched by the European Union to improve and equalize higher education in its
member countries.