Bilingualism appears to be related to poor language and reading comprehension in the instructional language (L2). However, in the long term, an early age of second language acquisition (AoA) may produce higher levels of second language skills than a later onset of L2 exposure. Most studies on school-aged second language learners (L2 learners) include children with 3-7 years of second language (L2) exposure. We compared 91 early bilingual (Norwegian and a variety of different native languages) 5th graders with 196 monolingual peers on a range of linguistic skills and their relationships with reading comprehension. All bilingual learners in the sample had been exposed to the instructional language by at least the age of 2. The results, using structural equation modelling and latent variables, show that early bilingual learners' vocabulary, listening comprehension, and reading comprehension are significantly lower than those of monolingual learners. Nevertheless, they have similar levels of knowledge of conjunctions and decoding skills and corresponding predictive patterns from linguistic skills to reading comprehension. We discuss the implications of the findings.