People who are socioeconomically better off tend to report higher levels of well-being, with inconsistent roles ascribed to objective socioeconomic status (SES), subjective SES (SSES), and personal relative deprivation (PRD)—depending on the predictors, facets of well-being, and countries under study. We tested a comprehensive model of social status indicators as determinants of subjective well-being by a) including PRD, SSES, income, and education as predictors, b) assessing subjective well-being as well as interdependent happiness (happiness in relation to significant others), c) testing the model in Japan, Germany, and the US—countries with comparable societal structure (e.g., educated, industrialized, rich, democratic) but diverging cultural dimensions, and d) testing an explanatory variable: feeling excluded from society. Cross-culturally (N = 2,155), PRD and SSES independently and strongly predicted well-being, while income and education exhibited negligible direct effects. SSES emerged as the predominant predictor in Japan compared to the US and Germany, whereas PRD was the predominant predictor in the US compared to Germany and, to a lesser extent, Japan. This was largely accounted for by culture-specific links of social status with perceived social exclusion—the extent to which people feel unable to keep up with society as a whole. Perceived social exclusion was more strongly linked to SSES in Japan compared to Germany and the US, and more strongly linked to PRD in the US than in Germany. The role of perceived social exclusion as an explanatory variable in the relationship between social status and subjective well-being merits further investigation within and between countries.