Abstract: A questionnaire survey was conducted among 376 graduate students using the Perceived Social Adversity Scale, the Maladaptive Perfectionism Scale, the Core Self-Evaluation Scale, the Self-Compassion Scale, and the Center for Epidemiologic Studies Depression Scale. This study aimed to explore the impact of perceived social adversity on depression among graduate students, the mediating roles of maladaptive perfectionism and core self-evaluation, and the moderating role of self-compassion in the relationship between perceived social adversity and depression. The findings indicate that perceived social adversity not only directly affects depressive symptoms in graduate students but also exerts an indirect effect through maladaptive perfectionism and core self-evaluation. Furthermore, self-compassion was found to moderate the direct path of this relationship.