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In Western contexts, immigrant women and women of color typically fall at the bottom of earnings and occupational hierarchies. This pattern occurs at every level of the occupational structure—even immigrant women with college degrees working in professional occupations experience this “double jeopardy,” earning less than both native-born women and native-born men. However, some scholars have argued that immigrant women in Japan, one of the most gender unequal countries in the world, avoid the trap of double disadvantage. This paper tests this provocative claim with data collected from over 500 foreign and Japanese workers in 12 large firms. I find that indeed, foreign women earn more than Japanese women, but this advantage is slight. I also show that, despite its reputation for xenophobia, ethnic or foreign nativity penalties are small in comparison to the gender pay gap. The premium that foreign women receive for their unique skills counterbalances the modest ethnic penalties, but barely makes a dent in the sizable gender pay gap that all women experience regardless of ethnicity or nativity.