The emphasis on the notion of boundaryless careers has stimulated a growing research interest in the relationship between inter-organizational mobility and career success. The present study explores the effect of external and internal careers on salary attainments of managerial and professional employees. The research has been conducted in a sample of highly educated employees in Italy and proposes an original approach to the modelling of career paths based on the respondents' retrospective career history. We found that inter-organizational mobility only has a positive impact on objective success for workers engaged in professional careers. Theoretical implications for career research as well as applied implications are discussed.