Well-educated and prosperous, Asians are commonly viewed as the “model minority” in the United States. We challenge this rosy view by revealing a “Bamboo Ceiling” in starting salary. We analyzed a unique dataset of 19 class years of MBA students who accepted full-time job offers in the United States. When considered under the larger “Asian” umbrella, Asians appeared to have starting salaries equally high as Whites. However, a striking gap emerged when we distinguished among East Asians (e.g., Chinese, Japanese), Southeast Asians (e.g., Singaporeans, Vietnamese), and South Asians (e.g., Indians, Pakistanis): East/Southeast Asians had the lowest starting salary of all ethnicities, whereas South Asians had the highest. This salary gap was mediated by East/Southeast Asians’ propensity to not negotiate because of higher relational concerns. In support of this mechanism of negotiation propensity, we identified industry as a boundary condition, such that the salary gap was not observed for consulting jobs, where MBA job offers are usually standard and non-negotiable. The salary gap between East/Southeast Asians and South Asians for non-consulting jobs was estimated to be $4,915/year (in Year 2019 dollars), a remarkable difference that can compound over one’s career. These results were robust after controlling for variables such as nationality and GPA. In revealing important differences within the “Asian” umbrella, this research moves beyond the predominant East-vs-West paradigm in cross-cultural research, and uncovers an overlooked problem underneath Asian prosperity.