National Longitudinal Survey of Youth data characterizing a racially heterogeneous sample of 1,897 male and female high school graduates were analyzed to determine the impact of employment while in high school on subsequent wages. The sample was segmented by gender and amount of work experience gained while in high school, and several wage models were identified for calculating the net effect of high school employment on subsequent wages by controlling for a series of observed and unobserved factors. Among the study's main conclusions were the following: (1) 80% of males and 73% of females work at some point during their junior or senior year, with males and females averaging 10.5 and 8.3 hours per week over the academic year, respectively; (2) more than 70% of students who work more than 20 hours per week are white, and compared with their counterparts, most receive substantially less postsecondary schooling, take fewer credits in grades 11-12, and receive lower grades in academic subjects; and (3) models designed to avoid the shortcomings of past models indicate no significant wage premium associated with high school employment except among individuals who work more than 20 hours per week while in high school. (Twenty tables/figures and 22 references are included.) (MN)