•Analyzes whether women in academia benefit less from their academic achievements than men (devaluation theory).•Among tenured professors, women show a 32% higher chance of becoming a professor than men.•Interaction effects reveal that women do not benefit less from academic achievements.•Women tend to benefit more from their scholarly publications than men.•We find no support for the devaluation of women's academic achievements. Theories on gender bias argue that women in academia benefit less from their academic achievements than men do; women, as a result, show lower rates of success in becoming tenured professors. Based on longitudinal data from CVs of virtually all psychologists in German academia, we analyze factors that lead to a first permanent professorship in German psychology departments. We find no overall gender differences in getting a tenured position when considering all psychologists and holding research productivity and other observable factors constant. Among currently tenured professors, women show a 32% higher chance of having gotten tenure than men. Interaction effects reveal that women's publishing or signaling investments are not devalued when they try to obtain tenure. We particularly find that women benefit more from their scholarly publications than men do. Hence, we find no support for gender bias or devaluation of women's academic achievements.