People who repeatedly experience prejudice and discrimination are at greater risk for developing several negative consequences, such as low self-esteem (SE). However, scholars have not explored the role of social status as an important variable for this relationship, and its consequences. The current study is aimed at investigating the role of status on the relationship between self-perceived prejudice and discrimination (SPPD), subjective well-being (SWB), SE, and the Big-Five. In a Brazilian sample (N = 1,130), we found that social status affects the network structure among low- and high-status group members. We also found that not all causal relations are equal between groups, such that the influence of SPPD, SE, and neuroticism is different depending on participants’ social status. Our results demonstrate the importance of accounting for social status when crafting psychological interventions to mitigate the negative effects of prejudice and discrimination and dismantle systems of oppression for low-status group members.