This study investigated (a) whether performance improvement following upward feedback is related to self-other rating discrepancies, (b)how self-ratings change after feedback, and (c) whether agreement among raters influences performance improvement. Self-ratings and subordinate ratings were collected from 1,888 managers at 2 points in time 1 year apart. Using polynomial regression equations, we determined that managers who overrated themselves relative to how others rated them tended to improve their performance from 1 year to the next, and underraters tended to decline. This is consistent with what would be predicted by self-consistency theory (Korman, 1976). Self-ratings tended to decrease for overraters and increase for underraters, but this effect was not constant throughout the range of self-ratings. Agreement among subordinate raters was negatively related to performance improvement, but this is likely a reflection of differential regression to the mean.