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This article considers the labor market consequences of attending a Historically Black College/University (HBCU). With 2015 U.S. Department of Education College Scorecard Data, we use a matching estimator to identify and estimate the treatment effect of HBCU attendance on median earnings, earnings relative to a high school graduate, and income relative to that of the household at the time of initial enrollment, 6 and 10 years after attendance. Our treatment effect parameter estimates suggest that once we account for the differential return to college majors, the urban wage premium, and the proportionality/dependence of the labor market return of Black student college attendees on the share of a college/university’s student population that is Black, there is a long-run earnings premium associated with HBCU attendance. In addition, for HBCUs in general, we find that there is a population of students who would …