How does physical attractiveness affect labor market outcomes? Research has shown that attractive individuals are treated favorably by their environment, and therefore have advantages in the labor market, e.g. higher wages. Expectations states theory offers an explanation for this finding. It indicates that physical attractiveness — as a diffuse status characteristic — is cognitively associated with other valued characteristics, leading to higher skills and competencies being attributed to attractive individuals. However, there is no conclusive evidence of whether physical attractiveness is advantageous for everyone: its effect in the labor market may be context-dependent and may be moderated by other characteristics like gender. Empirical evidence indicates that physically attractive individuals appear to be more gender prototypical. These stereotypes may imply a mismatch between the attributes ascribed to the person and the skills that are required in an opposite-sex-typed occupation. Hence very attractive individuals may experience socioeconomic disadvantages in gender-atypical occupations. However, previous findings on the beauty penalty are mixed and they are mainly based on experimental settings in which participants are prone to use cues like physical attractiveness when making decisions. Therefore, this paper not only investigates if higher wages for attractive individuals are judged to be fair and whether very attractive individuals suffer from a beauty penalty in gender-atypical occupations but also whether the beauty premium and the beauty penalty are offset if additional information on a person’s work performance is provided. In order to explore the research question empirically, we use a factorial survey experiment with a large representative sample in Germany. Respondents are asked to evaluate the fairness of wages of several vignettes that include headshot-style pictures of men and women at three pre-rated levels of attractiveness, coupled with short descriptions that experimentally vary the vignette person’s work performance, occupation, and earnings. Results will contribute important insights to the growing literature on the role of stereotypes in shaping fairness judgments of wages and social inequalities within the labor market.