Previous studies have shown that immigrants’ levels of life satisfaction tend to be lower than among natives. We do not know, however, whether this is due to the immigration experience as such, or rather is a result of the fact that on average this group is faced with less prosperous living conditions. In this analysis, we use data from a recent Dutch population survey (n=3,925), with an oversampling of first and second generation minority respondents of Moroccan and Turkish origin (n=1,697). While initially we observe significant differences in levels of life satisfaction, these can be almost fully explained by more financial problems and stronger feelings of social isolation among these groups, as predicted by the need-gratification theor...