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There is a growing literature that explores individuals’ self-reported subjective wellbeing as moderated by education and other economic indicators. However, most of the accumulated evidence has thus far been based on western countries. Few studies have been done in developing countries, particularly in Africa. Furthermore, even fewer studies have modeled the relationship between education and wellbeing within a labor market that is largely informal. This paper fills this void by investigating the relationship between education, informal employment, and subjective wellbeing. Attention is paid to the uniqueness of developing countries and panel data methods are used to control for unobserved heterogeneity. We report both ordered probit models with random effects and ordered logit models following Ferrer-i-Carbonel and Frijters (2004), for comparison.