This paper aims to understand association between Personality Traits and Psychological Well-being domains in a sample of management students. It is both primary and secondary research involving 706 full- time MBA students. The survey makes use of Goldberg’s Scale (Goldberg, 1993) to measure big five personality traits. Ryff’s Well-Being Scale (Ryff, 1989) is used to measure Psychological well-being. There is an association between personality traits and psychological well-being as per the study. Personality traits namely extraversion, conscientiousness, openness and agreeableness moderately predicted psychological well-being. ‘Openness to experience’ is moderately associated with ‘Personal growth’ and ‘Purposefulness ‘among the MBA students. The study gives insight on how personality associates with well-being domains.