The paper presents the results of a theoretical and empirical study of subjective well-being and socio-political representation of ethnic groups. The study included proportionally equal samples of Russian and Kazakh respondents (Saratov, N = 60). Using a combination of psycho-pedagogical instruments, such as a questionnaire aimed at identifying socio-political views developed by the author of the study, the «Level of social frustratedness instrument» (L. I. Vasserman, B. V. Iovlev, M. A. Berebin), and the «C. Ryff’s scale of psychological well-being» (L. V. Zhukovskaya, E. G.