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This article explores the influence of race and nativity on the one hand and assimilation, human capital, and market structure on the other to explain patterns of income and career transitions of Caucasians and Asians in the engineering profession. Multiple and logistic regression techniques are employed to analyze the career histories of 12,200 Caucasian and Asian engineers followed from 1982 through 1986. The objective is to determine how well Asians have performed in the American engineering labor market in terms of wages, occupational status, and promotion in comparison to Caucasians. The results indicate more racial disparity in managerial representation and upward mobility than in earnings, and more disparity in career attainment between foreign-born Asians and Caucasians than between native-born Asians and Caucasians. The data suggest that Asian engineers, except recent immigrants, have achieved earnings parity but have not yet attained occupational equality with Caucasians.