Objective The ability to judge other people's personality characteristics and to know how we are viewed by others are important aspects of social cognition. The present study tested the impact of depressive symptoms and low self‐esteem on self‐other agreement and the accuracy of metaperception (i.e., how we believe others view us) across the Big Five dimensions of personality. Method Participants who varied in depressive symptoms engaged in a 10‐minute “getting to know you” interaction in dyads. Ratings on the Big Five personality dimensions, depression, and self‐esteem were completed prior to the interaction. After the interaction, participants rated the personality of their partner and rated how they believed their partner would rate them (metaperception). Results Self‐other agreement was only found on Extraversion, whereas there was significant meta‐accuracy on Agreeableness, Conscientiousness, and Extraversion. Depressive symptoms and low self‐esteem negatively biased metaperceptions of Agreeableness, Conscientiousness, and Neuroticism. Conclusions Depression and low self‐esteem function to negatively bias how we believe we are seen by others in new acquaintanceships and therefore may play an important role in the development of interpersonal relationships.