Socioeconomic status (SES) plays a fundamental role in social science research and beyond, serving as an important indicator for understanding societal structures and social inequalities. Measuring SES involves diverse approaches, including objective and subjective measures, raising questions about their relationship and the factors influencing its size. This study investigates the correlation between objective and subjective socioeconomic status (OSS and SSS) and evaluates the effect of study context, study design, and operationalization of the measurement on this correlation. We conducted a meta-analysis, starting with a systematic literature search of relevant databases up to July 2021. Multilevel random effects models were employed to estimate the cumulative effect size of the correlation between OSS and SSS as well as the effect of different moderators regarding study context, design, and operationalization of SES indicators. The analysis included 68 eligible articles with 89 studies and 249 bivariate correlations. The estimated cumulative effect size for the correlation between OSS and SSS was 0.3, with a substantial amount of heterogeneity in the data amounting to approximately 98 percent. The correlation was significantly higher when OSS was operationalized as an index and when income was measured (especially household income) compared to education or occupation. OSS and SSS seem to capture different aspects of socioeconomic status and thus cannot be used interchangeably. SSS appears to be more strongly influenced by income than other indicators.