Since 1999, rapid growth in transition countries of Europe and Central Asia Region (ECA), driven primarily by productivity gains, has led to a dramatic increase in living standards and a sharp reduction in poverty. Out of a total regional population of about 475 million, about 50 million have moved out of poverty over 1998-99 and 2005-06. Gender issues related to these economic outcomes have not been widely studied in the transition countries of the ECA Region though some important pieces of research have indeed been undertaken in recent years. In this paper we use the Life in Transition Survey (LiTS) dataset, a joint initiative of the European Bank for Reconstruction and Development (EBRD) and the World Bank, covering all the transition countries in the ECA Region. Using a multivariate regression method, we get findings in line with the literature for standard covariates, and interesting transition countriesspecific results. Social capital and perceived change in social capital after the start of the transition is correlated with life satisfaction as well as preference for market economy and democracy make people happier after the transition. We also perform some sensitivity analysis which confirms general findings and unveils some country groups and gender specificities.