This study aimed to examine the ability of overall emotional intelligence (EI) to predict cognitive and affective components of subjective well-being. University students in Germany and Turkey responded to self-report measures of EI, Big Five personality traits, life satisfaction, and positive and negative affect. Multiple informant ratings on subjective well-being measures were obtained to further support the validity of the findings. Results indicated a positive relationship between EI and affective as well as cognitive facets of well-being, with a closer association on part of the affective aspect. The incremental validity of EI was established in that EI predicted both affect balance and life satisfaction when controlling for the Big Five. Whereas participants in Germany reported better well-being than those in Turkey, personality traits and EI explained more variance in well-being measures in Germany than in Turkey. However, the relationship between EI and well-being did not appear to be culturally bound.