The current study extends research on social status and well-being among young people by examining whether subjective social status (SSS) is related to life satisfaction and happiness. Emerging adults (n = 383) between 18 and 29 provided data on demographic characteristics, SSS, life satisfaction, and happiness via an online survey. Regression analyses revealed a positive association between individual and family SSS and both indicators of well-being, happiness and life satisfaction. Results provide evidence that perceptions of social status are associated with positive well-being. Positive well-being and dimensions of positive affect have been linked to physical health outcomes (Pressman and Cohen, 2005) and achieving success in both professional and personal domains of life (Lyubomirsky, King, and Diner, 2005). Knowing the relationship between internal evaluations of status and psychological well-being is beneficial for educators and clinicians in fostering and enhancing positive well-being among young people, which then will impact future success and health.