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Is more education always connected to happier life? Researchers have tried to examine the relationship between education and life satisfaction (LS). However, there has been inconclusive evidence on the relationship between the two and few studies have examined it from a comparative perspective. By using international data from the 6th wave of the World Values Survey, this study examined the relationship between tertiary education and LS. It found the positive relationship between the two, when all responses from 54 countries considered as a sample. However, result by country showed the cross-national differences in the relationship between tertiary education and LS. This indicated that tertiary education functioned as a positional good rather than an absolute good in its relation to LS.