Switzerland has recently adopted immigration policies that give preference to skilled migrants, the assumption being that migrants with higher education will integrate easily. Our study of 57 skilled immigrant women from Latin America, the Middle East and Southeastern Europe shows that this assumption is largely unjustified. Most of the women cannot use their social and cultural capital to establish themselves in the upper segments of the labour market. A third are not integrated in the labour market and a quarter occupy positions below their skill-level. A further third work at their skill-level but only irregularly. The differentiated participation of these immigrants in the labour market is well explained by analysing the interplay of class, ethnicity and gender.