According to the literature, among social comparison mechanisms, identification with an upward target would be the most frequent mechanism that students report to use. However, it remains unclear how the identification and the contrast mechanisms contribute to the construction of pupils’ scholastic perceived competence. The aim of this study was to test the two following hypotheses: (1) the more pupils report using downward identification and upward contrast, the lower their perceived scholastic competence; (2) the more pupils report using upward identification and downward contrast, the higher their perceived scholastic competence will be. Three hundred and eighty French-speaking pupils (147 fourth graders and 233 fifth graders) from public elementary schools in the district of Grenoble (France) were met in their school. Pupils responded to a standardized mental ability test and to a questionnaire about their perceived scholastic competence and their utilization of social comparison mechanisms: upward and downward identification and upward and downward contrast. Boys and girls differed on some of the social comparison mechanisms. However, the two hypotheses were confirmed and hold true for both boys and girls. Findings show that beyond the contribution of cognitive abilities, pupils’ responsiveness to these mechanisms contributed to the development of their perceived scholastic competence. One educational implication is the usefulness of analyzing the processes of social comparison as strategies to allow pupils to maintain a positive perception of their scholastic competence.