Using an expanded econometric model, this study sought to estimate more precisely the net effect of independent variables (i.e., attending an HBCU) on three measures of labor market outcomes for African American college graduates. Findings reveal a statistically significant, albeit moderate, relationship between measures of background, human and sociocultural capital, and labor market outcomes of Black graduates. Specifically, graduating from an HBCU has a net negative impact on post-BA earnings, and mixed results were found for occupational status and job satisfaction. (Contains 7 tables.)