The attitudes of students to their school, teachers and peers were investigated with 1,540 students in grade six from 30 schools and 78 classes. Using structural equation modelling, the students’ perceptions of well-being were investigated at class level using seven items with high reliability. Their well-being was dependent on at least three factors: students’ learning (seven items), student-to-student interaction (six items) and teacher–student relationships as described by students (ten items). Together, these factors explained 72 % of the variability of well-being between classes. The students’ well-being appeared to be significantly different between schools and between classes in the same school. The teachers’ opinions of their classes with the highest class score for well-being were compared with the lowest. The differences in the evaluation of the teachers’ own classes explain a number of critical issues which impact on educational outcomes. Students need to be aware of the combined effects of learning and socialisation.