It is a widely held belief that status and wealth affect subjective well-being (SWB). This is reflected in the efforts of many people to climb up the ‘social ladder’ and to transcend their social background. By being upwardly mobile, they hope to benefit from various rewards they believe to be associated with desirable societal positions. However, findings from a range of disciplines provide evidence that these benefits are not to be taken for granted. Thus, we decided investigate the question of how upward social mobility impacts life satisfaction, the cognitive component of SWB.