Across diverse theoretical orientations, vulnerable self-esteem (SE) is thought to act as a diathesis for depression after life stress. In the present study, the roles of trait-level SE, low SE primed by depressed mood, and labile SE in prospectively predicting changes in depressive symptoms in a nonclinical sample (n = 192) were examined. Results indicated that labile SE predicted increases in symptoms. Furthermore, a 3-way interaction (Labile SE x Academic Stress x Initial Depression) suggested that in Ss who were initially asymptomatic, lability made Ss differentially vulnerable to increases in depressive symptoms after stress. In contrast to labile SE, trait-level SE and priming of low SE were relatively weak predictors of changes in depressive symptoms and did not interact with stress.