Résumé : By considering the case of Italy we show that despite much rhetoric and expectations about the fact that women have gradually overcome men in terms of educational attainments, they still lack behind in terms of the main skills and competencies that can profitably be used in the market. On the one hand, women lack both general and specific knowledge related to the labour market, on the other hand the skills and competencies they acquire by carrying on unpaid work do not seem to be positively valued by the market. However, women also appear to exhibit higher returns to knowledge, both in terms of returns to education and of returns to work-related knowledge. Women’s employment is more determined by the joint impact of care burdens and knowledge-determined opportunities, and their wages are more significantly affected by our indicators of knowledge. More than for men, while specialisation improves “insider” women’s wages, it reduces “outsider” women’s ability to obtain a job.