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Previous analyses of sexual orientation and earnings find that gay men face a wage gap while lesbian women earn higher wages than similar heterosexual women. However, analyses have rarely considered bisexual men and women as a unique group separate from other sexual minorities. I argue that such binary views of sexual orientation—treating sexual minorities as a homogenous non-heterosexual group—have obscured understandings of the impact of sexual orientation on labor market outcomes. Specifically, I predict that unequal outcomes for gay men and lesbians are largely due to the influence of family arrangements and their effects on earnings. In contrast, I argue that bisexual men and women should be the most disadvantaged in the labor market due to disadvantaging stereotypes, perceptions of choice to their sexual orientation, and prejudicial treatment. Using data from both the General Social Survey (N=13,554) and the National Longitudinal Study of Adolescent Health (N=14,714) I show that family arrangements explain many of the observed earnings differentials between heterosexual individuals and gay men and lesbians. Bisexual men and women in contrast face wage penalties that are not explained by human capital differences or occupational characteristics. Perceptions of prejudicial treatment partially explain the observed wage gaps.