Abstract: The life quality of Russian youth and psychological indicators of improving their life quality still remain nettlesome. One of such indicators is self-respect viewed by the author of the present article. The aim of the research was to build a determination model of subjective well-being for young people. For this purpose, the author carried out an empirical research. The author tested the causal model of mediation of life satisfaction that involves socially prescribed perfectionism as an independent variable and self-respect as a mediator. The research involved 268 vocational students aged 16 - 20 years old (the mean age is 17,3 ± 1,3). Data was collected using the following psychologists tests and inventories: Global Life Satisfaction Scale (S. Yaremchuk), 'Multi-Dimensional Perfectionism Scale' (I. Gracheva) and 'Self-Attitude Inventory (V. Stolin and S. Pantileeva). The results were processed using the correlation analysis and demonstrated that there is a significant co-relation between all variables viewed whereas p=0,001. In particular, satisfaction with life has a negative correlation to self-respect of repondents. Results of the regression analysis of data also demonstrate that self-respect fully conditions the relation between socially prescribed perfectionism and satisfaction with life. Thus, self-respect of an individual is not only associated with the level of satisfactin with life and socially prescribed perfectionism but also determines this co-relation. The author demonstrates that a high level of anxeity and fear not to fulfil expectations of close ones reduces one's satisfaction with life as a result of low self-respect. Consequently, the author of the article proves the improving role of self-respect in the process of regulating the life quality of modern youth.