Using Human Capital and Signaling theories, this paper seeks to explain recent graduates' labor income in Colombia. Since usual household surveys do not provide specific information to analyze wage determinants (such as field of study, characteristics of the institution where the degree was obtained…) this paper uses data from a National Education Ministry’s survey. The main result is that being man, living in Bogotá, having parents with higher levels of education, or having gotten a degree from a private institution, enhance the probability of obtaining a higher labor income. Field of study and occupational position also explain wage levels.