The purpose of the review is to explore the transformation of ideas about the relationship of various parameters of self-esteem with subjective well-being, the productivity of educational activity and the success of a professional career. Iinitially, the level of self-esteem (high or low) was considered as the most important parameter. The studies show that people with a high level of self-esteem have more positive self-attitude, their subjective well-being is higher, they are less prone to depression and anxiety disorders, and they show more positive expectations about future achievements and relationships with other people. They are more persistent when meeting failures. On the other hand, the level of self-esteem does affect the productivity neither of the activity nor the quality of the relationship. In addition, high self-esteem is often a heterogeneous category, which includes not only the acceptance of one's ppositive qualities but also narcissistic and defensive components. The contradictory role of self-esteem level has prompted researchers to address other parameters of self-esteem: stability or instability and the contingencies of self-esteem. These parameters are closely related; they affect the subjective well-being and quality of activity and allow shedding lightt on the role of self-esteem in the mental life of a person. The analysis led to the conclusion that the identification and delineation of healthy and neurotic contingencies of self-esteem is a promising area for further research, which can help in the formation of healthy self-esteem in children and adolescents.