This study compares school-related associations in depressive symptoms among children aged between 9-13 years from four schools in Finland and Norway. A total of 523 pupils participated in the cross-sectional survey. The connections between depressive symptoms and school factors were analysed using hierarchical regression analyses. School variables were self-perceived peer victimization, teacher and peer social support, school performance, and teachers' reports on competence in core subjects; these variables explain 30% of the variance of the children's depressive symptoms in Norway and 26% in Finland beyond that afforded by differences in the background characteristics and protective factors in the family. A trend was found in the Norwegian data which showed that poor relationships at school are connected more strongly with depressive symptoms than poor school performance, but the Finnish data did not confirm this. The results support the importance of taking various school factors into account with children suffering depressive symptoms, and not merely a dysfunctional domestic situation. The implications for school psychology practice are also discussed.