This study investigates the gender gap present in the relationship between obtaining a college degree and labour earnings in Japan, using a dataset that contains detailed information about the colleges from which the respondents graduated. In particular, we focus on the ranking of colleges as a factor. We find that obtaining a college degree, regardless of the college ranking, is positively correlated with higher earnings even after controlling educational and cultural experiences in childhood, for both men and women, but that this relationship is stronger for men. Moreover, graduating from a high-ranking college is positively and significantly associated with higher earnings for male workers only. Further, the relationship between a high-ranking college degree and women’s spousal labour earnings is positive and significant. Thus, opportunities to obtain higher education benefits are most likely connected to the different paths that men and women take to attain economic success.