The emergence of technology driven gig economy and digital labor platforms has transformed the methods of sourcing, assessing, and remunerating work. This study examines how traditional credentials like educational degrees and platform-specific ratings like Top Rated and Top-Rated Plus affect freelancer earnings in digital labor marketplaces. We use regression analysis to compare the explanatory power of ratings given by the platform and educational levels to determine whether platform ratings are more strongly associated with hourly earnings than formal education credentials for 146 freelancers on a prominent digital labor platform. Based on signaling theory, we found that platform-assigned ratings that acts as signals predict hourly earnings better than formal education. The findings indicate that digital labor marketplaces value platform signals like innovative reputation systems. The results show the association between traditional educational credentials that serve as labor market indicators and platform-specific signals in evaluating value in digital marketplaces. The study demonstrate labor signaling is changing in the era of digital work with implications for freelancers, platform developers and human resource management practices. It further challenges the traditional human capital development and raises questions about the role of traditional educational credentials in the future of digitally mediated work.