This paper analyzes the earnings and employment of Chinese, Japanese, Filipino, and white men born in the United States. The Chinese and Japanese have higher levels of schooling and earnings than white men, and the Japanese work more weeks. Ceteris paribus, there are no substantive group differences in these variables or in returns from schooling. The Filipinos have a lower level of schooling, earnings, employment, and returns from schooling. It is, therefore, not appropriate to view Asian-Americans as a single disadvantaged minority group. Further, the success of the Chinese and Japanese challenges conventional wisdom regarding the consequences of racial discrimination.