This paper describes the results of a study that examined if psychological entitlement and hedonic well-being mediated relationships between counterproductive work behaviors (CWB) and grandiose narcissism. More specifically, the mediation effects of both types of narcissism on CWB via psychological entitlement and hedonistic subjective well-being (SWB) were examined. This study is based on self-reported, cross-sectional study on 119 working adults. Agentic and communal narcissism were positively related to CWB in parallel way, while simultaneously and indirectly decreasing CWB levels via higher SWB. Current paper is the first attempt to include agentic-communal narcissism model to explain the levels of CWB. The theoretical and practical implications of presented findings are discussed here in terms of the agency-communion model of narcissism and the “mixed blessing” effects of grandiose narcissism on subjective well-being.