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This study aims to examine the effects of participating in physical activities on female college graduates' starting salaries. We used an instrumental variable (IV) approach to address the possible endogeneity problem. By using the Taiwan Higher Education Dataset, we discovered that participating in physical activities during college increased an individual's earnings by 3.06%. The significant positive effect of physical activity on salary demonstrated in this study is consistent with that in other relevant studies. This study also discovered that both the intensity and the persistence of participation in physical activities affected salary outcomes. Individuals earned 0.17%–2.41% more if they exercised for an additional hour per week, suggesting the importance of the intensity of participation in physical activities. In addition, persistent participation in physical activities was associated with a 3.08% higher salary.