The article investigates perceived and objective inequalities in Bosnia and Herzegovina, focusing on Republika Srpska amid rising societal tensions, bolstering the secession narrative, and political mobilization. Aimed at identifying objective inequalities that might fuel grievances causing societal upheaval, the findings reveal no significant disparities between Republika Srpska and the Federation of Bosnia and Herzegovina. Despite the absence of objective economic, social, or political inequalities, a perception of disparity persists among Bosnian Serbs, driven by the nationalist rhetoric of local leaders. Hence, the research underscores the gap between perceived inequalities and objective disparities, challenging conventional beliefs about the causal chain from objective horizontal inequalities to social mobilization by demonstrating how unfounded grievances can still drive tensions and secessionist agendas.