People's beliefs about social mobility influence important behaviors and attitudes, and even people's health and well-being. This study explores Filipino adolescents' conceptions and beliefs related to socioeconomic mobility using consensual qualitative research. Participants were asked to write answers to short open-ended questions on why people stay, move up or move down in the socioeconomic ladder. Responses from 177 adolescents (aged 11 to 20) were analyzed to identify domains and categories of core ideas. The consensual qualitative research revealed seven domains: (a) personal factors, (b) beliefs, (c) unhealthy and unethical behaviors, (d) family factors, (e) social, political, and economic factors; (f) social responsibility; and (g) life shocks. Most domains also included several categories of core ideas, most of which were variant across the adolescent respondents. The general and most typical core ideas related to personal/individual strivings and accomplishment, which suggests a general belief in the equity perspective regarding social mobility; although there were also indications of some understanding of the external structural factors that constrain socioeconomic mobility. The range of domains and core ideas suggest an array of conceptual and even ideological themes that may be developing in the Filipino adolescents' understanding of their own socioeconomic aspirations.