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Is there a gender gap in perceived pay inequity? And, if so, how do achieved statuses of education and professional occupation modify it? Using data from a national sample of American workers, we observe a status-contingent gender gap in perceived pay inequity: Women who have achieved higher status are more likely than similarly situated men to report being severely underpaid. Achieved statuses ‘pay off’ more strongly for men relative to women—thus supporting the reinforcement of advantage hypothesis. Higher earnings reduce the risk of perceived pay inequity for both women and men—but more so among men. This gender gap holds net of career investments, job rewards, job efforts, and workplace gender composition. Moreover, none of the patterns support the ‘depressed sense of entitlement’ claim regarding women’s perceptions of pay inequity. Our findings underscore the importance of achieved statuses as key determinants of the gender gap in perceived pay inequity.