Despite a recent increase in women and racial/ethnic minorities in U.S. postsecondary education, doctoral recipients from these groups report lower salaries than male and majority peers. With a longitudinal sample of approximately 10,000 respondents from the "Survey of Doctorate Recipients," this study adds to the limited literature examining the effects of discipline, sector of employment, personal traits (e.g., marital status and number of children), and the interaction of gender and race on annual salary over the decade after degree completion, 1999-2008. Multilevel growth models reveal greater gaps in salary for women compared to men across all race/ethnic groups. The greatest rate of return was found for Asian respondents regardless of gender, and minority males had better returns than White male peers conditional on marriage. Implications for career choice, career paths, and the need for policies that address gender and race equity are discussed.