This paper examines the assimilation of immigrants in the labor market, focusing on the source of their human capital. It finds that the value of human capital is not fully portable across countries, with the national origin of an individual's education significantly affecting its value in the labor market. The study uses data from the Israeli Census of Population to analyze the returns to schooling obtained abroad and domestically. It shows that immigrants from different countries and origins face different earnings disadvantages, with the gap largely explained by the lower value placed on foreign education. The paper also finds that the return to education obtained abroad is higher for immigrants from Europe and the Western Hemisphere than for those from Asia and Africa, reflecting differences in school quality and compatibility with the host labor market. The study highlights the importance of language proficiency, domestic labor market experience, and further education in raising the return to foreign schooling. It concludes that the portability of education varies with its level, with primary school being equally valued regardless of origin, while the source of high school education significantly affects its value. The findings suggest that policies encouraging immigrants to obtain language and other training can enhance the return to foreign schooling.This paper examines the assimilation of immigrants in the labor market, focusing on the source of their human capital. It finds that the value of human capital is not fully portable across countries, with the national origin of an individual's education significantly affecting its value in the labor market. The study uses data from the Israeli Census of Population to analyze the returns to schooling obtained abroad and domestically. It shows that immigrants from different countries and origins face different earnings disadvantages, with the gap largely explained by the lower value placed on foreign education. The paper also finds that the return to education obtained abroad is higher for immigrants from Europe and the Western Hemisphere than for those from Asia and Africa, reflecting differences in school quality and compatibility with the host labor market. The study highlights the importance of language proficiency, domestic labor market experience, and further education in raising the return to foreign schooling. It concludes that the portability of education varies with its level, with primary school being equally valued regardless of origin, while the source of high school education significantly affects its value. The findings suggest that policies encouraging immigrants to obtain language and other training can enhance the return to foreign schooling.