The objective of the present study was to extend previous findings by examining the relationship between emotional intelligence (El) and well-being indicators (life satisfaction and happiness) in a 12-week follow-up study. In addition, we examined the influence of perceived stress on the relationship between El and well-being. Female students from the School of Health Sciences (M = 264) completed an ability measure of emotional intelligence. After 12 weeks, participants completed the Perceived Stress Scale, Satisfaction with Life Scale and Subjective Happiness Scale. Participants with higher El reported less perceived stress and higher levels of life satisfaction and happiness. The results of this study suggest that perceived stress mediates the relationship between El and well-being indicators, specifically life satisfaction and happiness. These findings suggest an underlying process by which high emotional intelligence may increase well-being in female students in nursing and allied health sciences by reducing the experience of stress. The implications of these findings for future research and for working with health professions to improve well-being outcomes are discussed.